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Analyse Of Industry Essay

3728 words - 15 pages

combine ex int analysis decide strategic option for growth . ansoff product mix( based on rational approach) to identify strategic option and devide strategic option into four broader classification -market penetration, product expansion ,market expansion, diversification
product development is expansion of product range and market development is expansion of customer base both help strategy development and implementation and basically consider based org capabilities and strategy
product and market options
the ansoff product -market matrix
increase, develop new product and market based on experience ,capabilities fist do what you have experience and capabilities and let it exhausted ...view middle of the document...

this done by making product that are closely related to existing product . adding product feature (packing or pack size) 2 expanding product line (flavor products ) new generation products - compatible new technologies ( long self life products) 4 introducing new products (monthly magazine instead news paper) cross selling is offer additional products to supplier which keep away from related product providers aspect
service development new service for existing markets
market development existing product for new markets
unrelated diversification
other approaches to product and market innovation
new product development
important for revenue growth and survival in the market , productivity enhancement , can charge higher price and higher margin
issues-1 developing wrong product- irrelevant product or overtaken by technology or competitor,2 inadequate planning and control- cost over run, poorly design 3 schedule delays ,performance issue ( does not meet customer requirements
key success factor for new product development
cooper and klein research factor underline successful new product and found top five determinants
new product dev will be a strategic capability if done with following five
1 understanding user needs - by research need to get clear about their needs and what they value and unmet needs ( customer does not know what they exactly need so need A product that they believe they want. customer don’t know what does not exists in product they know what they need or a context within which his needs exists
2 marketing and publicity - need a team who embodied the image of product and market it successfully
3 efficiency of development - more efficient the development( more R&D) less issues in product
4 efficient use technology and external communication -updated knowledge is insight to market and use of wide range of social media help to promote the product- ( connect +delivery strategy)
5 seniority and authority of managers (begin with CEO - research and development ,implementation of new product take place with proper seniority, authority and dedication of top managers and collaborative approach with staff-
stages for new product development
1 Consumer acceptance & marketing risks Communicating the new product with target consumers
2 Organization & project mgnt risks Organization and management of the project
3 Product technology risks Stability of the product, while in storage in production plant, in shop/warehouse, during transportation or at home
4 Manufacturing technology risks Quality & safety requirements of Production system (facilities & personnel)
5 Supply chain & sourcing risks Constant and predictable quality of supply by suppliers
6Public acceptance risks Possible negative external reactions by key opinion formers or interest groups
7 Manufacturing technology risks Adequate Production means (equipment and tools) available when needed
8 Product technology risks New...

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