...[pic] FACULTY OF SCIENCE & TECHNOLOGY MAY 2015 EBTD 4103 NEW PRODUCT DEVELOPMENT MATRICULATION NO. : 850919085881001 IDENTIFICATION NO. : 850919-08-5881 TELEPHONE NO. : 012-278 1322 E-MAIL : mnoridham@oum.edu.my LEARNING CENTRE : Shah Alam Learning Centre TABLE OF CONTENTS PAGE NUMBER 1. INTRODUCTION OF THE SELECTED COMPANY ................... 2 2. LITERATURE REVIEW ON THE VARIOUS STAGES IN A PRODUCT LIFE CYCLE …………………………………………………......... 3 3. ANALYSIS OF THE SELECTED PRODUCT ACCORDING TO THE STAGES IN THE PRODUCT LIFE CYCLE .......................................................................................... 5 4. RECOMMENDATIONS TO THE COMPANY ON HOW THE COMPETITIVENESS OF THE SELECTED PRODUCT CAN BE IMPROVED ................................. 8 5. CONCLUSION ......................................................................................... 8 6. REFERENCES ......................................................................................... 9 1. INTRODUCTION OF THE SELECTED COMPANY 1. The Nestlé company history The history begins back in 1866, when the first European condensed milk factory was opened in Cham, Switzerland, by the Anglo-Swiss Condensed Milk Company. In Vevey, Switzerland, our founder Henri Nestlé, a German pharmacist, launched his Farine lactée, a combination of cow’s...
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...be. This Report will represent a number of facts and statistics regarding Nike and the sports industry. As the demand for technology and new innovations of products increases, it is Nikes duty to meet the needs and wants of their customers. Nikes mission with this report is to identify what their customers wants, what is missing in the market and how Nike can motivate and encourage everyone to become ‘the best athlete they can be’. This investigation will be carried out over the duration of one year before Nike releases a new product into the market. 2.0 Environmental Scan 2.1. Nikes Organisation In order to fully understand what Nikes customers want, Nike must first consider their strengths and weakness of the company. It is important to minimize the weakness and maximise the strengths and advantages of NIKE. Another aspect that Nike needs to consider is the opportunity and the threat that Nike is facing. (Appendix A for full table) (Nike Facts (SWOT) Strengths analysis, 2008, Randy Peterman, Reference 2) Nike main strength is its ‘Swoosh’ logo. This logo is recognisable in at least 160 countries worldwide. With the growing demand in technology Nike has the opportunity to expand their market and response to this demand. Although, Nike profits do depend largely on the market of footwear and is constantly under threat by new competitors entering the market. 2.2 Competitors Industry With a growing demand for sportswear we must be aware of all our competitors....
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...Developing, Manufacturing and Selling A New Product Risk Management Douglass Turner BUS4090 November 8th, 2015 Risk Identification In developing this new project for Cola Enterprises LLC, we have taken an overall view of the project in its entirety and have identified several risks. The purpose of this section is to identify the risks, assess each of the risks for severity, plan responses accordingly and develop monitoring programs for each identified risk. This is by no means an absolute solution based document as risks and unforeseen issues may come up during the execution of this project. The overall intent of this document is to be responsive enough to react to any other risks that may occur with robust monitoring and a cross-functional project team. Ingredient availability will be a risk due to the fact that the ingredient combinations used will put additional demand on potential suppliers. Ingredient suppliers have been narrowed down to three possible supply points according to Cola Enterprises approved supplier listings. These vendors supply the same ingredients to two competitors already and have mentioned that increased demand may be an opportunity at the quantities we have provided based off of demand forecasting. Processing equipment is the next potential risk as the current processing equipment in place does not have the capability to proportion finished beverage at the ration required to make a cost effective yield. Other current equipment including...
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...aggregate patterns of behaviour...................................5 1.3 Accelerated modification and diversification of the product portfolio………………..….6 1.4 Pervasion of automobiles with digital technology..............................................................6 1.5 Increased pressure for innovation and flexibility in development and manufacturing…...6 1.6 Strategic levers……………………….................................................................................7 1.6.1 Brand management...........................................................................................................7 1.6.2 Customer relationship management……………..............................................................7 1.6.3 Core competency management…………………….........................................................7 1.6.4 Software management.......................................................................................................7 1.6.5 Quality management.........................................................................................................7 1.6.6 Product development management...................................................................................7 1.6.7 Expansion management....................................................................................................8 2. Brand Management Process In...
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...For 85 years, the Williams Machine Tool Company had provided quality products to its clients, becoming the third largest U.S.-based machine tool company by 1990. The company was highly profitable and had an extremely low employee turnover rate. Pay and benefits were excellent. Between 1980 and 1990, the company’s profits soared to record levels. The company’s success was due to one product line of standard manufacturing machine tools. Williams spent most of its time and effort looking for ways to improve its bread-and-butter product line rather than to develop new products. The product line was so successful that companies were willing to modify their production lines around these machine tools rather than asking Williams for major modifications to the machine tools. By 1990, Williams Company was extremely complacent, expecting this phenomenal success with one product line to continue for 20 to 25 more years. The recession of the early 1990s forced management to realign their thinking. Cutbacks in production had decreased the demand for the standard machine tools. More and more customers were asking for either major modifications to the standard machine tools or a completely new product design. The marketplace was changing and senior management recognized that a new strategic focus was necessary. However, lower-level management and the work force, especially engineering, were strongly resisting a change. The employees, many of them with over 20 years of employment at Williams...
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...communications equipment that provided the interface between telephone networks and computers. AT&T Paradyne, in 1994 employed approximately 3,000 team members and generated about $500 million in sales. The company faced intense competition in all of its market segments —digital service units, modems, network management systems and services, multiplexers, and channel extension devices. No competitor had more than one-third of any market, each product market had a different leader, and, in most cases, five or six competitors represented 95% of the market. The company's headquarters was located in Largo, about midway up the western (Gulf) coast of Florida, in a 525,000 square foot facility. Product research and development were done both at the Largo facility and at AT&T Bell Laboratories facilities in Middletown, New Jersey. Total Quality Management AT&T Paradyne's General Management Team (GMT), consisting of the President and direct reports, launched a Total Quality Management program shortly after the AT&T acquisition in 1989. The GMT created a Mission Statement: "To be recognized by our customers as the leader in providing quality data communications products and services worldwide." All team members carried the AT&T Paradyne Values card (see Exhibit 1). The card was also shared with customers and suppliers, and the statements on the card were posted...
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...Introduction to Supply Chain Management Supply chain management (SCM) is the management of an interconnected or interlinked between network, channel and node businesses involved in the provision of product and service packages required by the end customers in a supply chain. Supply chain management spans the movement and storage of raw materials, work-in-process inventory, and finished goods from point of origin to point of consumption. It is also defined as the "design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronizing supply with demand and measuring performance globally." SCM draws heavily from the areas of operations management, logistics, procurement, and information technology, and strives for an integrated approach. Supply Chain Model Supply Chain Management addresses the following areas: * Distribution network configuration * Distribution strategy * Trade-offs in logistical activities * Information * Inventory management * Cash flow Supply chain execution means managing and coordinating the movement of materials, information and funds across the supply chain. The flow is bi-directional. SCM applications provide real-time analytical systems that manage the flow of products and information throughout the supply chain network. Supply Chain and Bullwhip Effect The bullwhip effect (or whiplash...
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...Maynila Submitted to: Prof. Carlos Sison Production Operation Management II Submitted by: Ronaliza M. Dimapilis BBM-MBA Best Practices in Product Management Product management is an important role within any company, especially in a startup where the product is still evolving. Part cat herder, part strategist, and part analyst, if one thing is certain about a Product Manager, it’s that they need to constantly be on their toes and ready to rally a team behind a decision. The challenge of a Product Manager is to provide a solution to our consumers — one which can be translated into product requirements that are actionable for developers and designers. One of the greatest challenges also of a product manager is not only to give solutions to your customer needs & wants but also to give a highly sustainable and profitable Product to your organization or company. When I started my career as a product manager 3 years ago, things are quite different from what they are decades ago. Lucky we, that there were a lot of books or training courses, there were a lot of associations, blogs, or newsletter that are readily available and easy to access because of internets and social media. That could help us and gain some insights about product management. Let me share to you what I have learned about the best practices of product management from the book of “ 42 Rules of product management” written by Brian Lawley and Greg Cohen of 280 Group press. 1. Rules...
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...BE440 BRAND MANAGEMENT ASSESSMENT COURSEWORK Brand extension (or stretching) is a strategic concept which relates to managing the brand portfolio. In addition, it can be understood as a process by which the practices of branding extend to social contexts beyond the traditional business domain. Critically analyse the purpose, implementation, advantages and disadvantages of brand extension. Illustrate your argument with at least two practical examples of brand extension. By Mr. Olan Kaewwichit Brand extension (or stretching) is a strategic concept which relates to managing the brand portfolio. In addition, it can be understood as a process by which the practices of branding extend to social contexts beyond the traditional business domain. Critically analyse the purpose, implementation, advantages and disadvantages of brand extension. Illustrate your argument with at least two practical examples of brand extension. Companies must carefully manage their brands. First, the brand’s positioning must be continuously communicated to consumers. Major brand marketers often spend huge amounts on advertising to create brand awareness and to build preference and loyalty. For examples, General Motors spends nearly $820 million annually to promote its Chevrolet brands. McDonald’s spends more than $660 million. (Top 100 megabrands by total measured advertising spending, 16 July 2001, p.s2.) Such advertising campaigns can help to create name recognition, brand knowledge and...
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...Career: Now-a-days, the word career has become a buzzword because of its increasing significance. The word career comes from the Latin word "cararia", which means “track for wheeled vehicles ". As a person leads his life in a particular occupation it is compared to cararia or career. So, A career is an occupation undertaken for a significant period of a person’s life and with opportunities for progress. With the increase in education among people, the use of the word career and the intensification of consciousness of the need for building a successful career are increasing. As a result, the aspects of building a career have expanded to a great extent. Now a person can pursue his career in numerous sectors such as Marketing, Information Technology, Engineering, and so on. But with the expansion of business around the world, the popularity of Marketing as a career is increasing day by day as it is a significant part of all kinds of businesses. Marketing: Marketing, one of the vital parts of Business, refers to the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Now, business organizations largely rely on marketing to save their existence in the market increasing margin. Marketing is used to identify the customer, satisfy the customer, and keep the customer. Marketing makes extensive use of social sciences, psychology, sociology, mathematics...
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...Factors which influence decision making in new product evaluation q Muammer Ozer * Department of Management, City University of Hong Kong, 83 Tat Chee Avenue, Kowloon, Hong Kong Received 16 October 2001; accepted 7 November 2003 Available online 31 December 2003 Abstract New product development is indeed very important for companies. However, developing new products is a risky and uncertain process. In order to reduce the risks and uncertainties, companies need to evaluate their new product initiatives carefully and make accurate decisions. Although the outcome of a new product evaluation decision can be influenced by the environmental uncertainties that are beyond a companyÕs control, companies can successfully improve the accuracy of their new product evaluation decisions. This article presents an integrated framework for understanding how various factors affect decision making in new product evaluation and provides guidelines for reducing their negative impacts on new product decisions. The results indicate that the quality of new product evaluation decisions is affected by four major sets of factors, namely the nature of the task, the type of individuals who are involved in the decisions, the way the individualsÕ opinions are elicited and the way the opinions are aggregated. Ó 2003 Elsevier B.V. All rights reserved. Keywords: New product evaluation; Research and development; Production; Marketing 1. Introduction 1.1. Background New product development (NPD) has been an important...
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...JOB DESCRIPTION (Channel Management Specialist) Job Title: | Channel Management Specialist | | Date: | 09.06.2012 | | | | | | | | Name: | vacant | | Written by: | A.S.M. Rafiq Ullah | | | | | | | | Reports to: | Head of Content & Applications | | Approved by: | | | | | | | (Jobholder) | | Division/Dept: | Commercial Division/Product/Content & Applications | | Approved by: | A.S.M.Rafiq Ullah | | | | | | (Immediate Superior) | | | | | | | | 1. JOB PURPOSE With the ambitious target for IBB Services going forward, the existing channels must be optimized and new channels developed in order to reach the targets. This role shall focus and strengthen channel management within Content & Application team , give better support to sales channels and create sufficient push to reach targets It shall support all the channels in GP (Direct Sales, Distribution, Customer Service, CLM, Self Service Digital&Social Media(WEB and WAP), Self Service/Marketing(USSD, SMS, MMS, IVR, OBD) with the Content&Applications portfolio. | 2. ORGANISATIONALCHART 3. PRINCIPLE ACCOUNTABILITIES List the expected end results that must be achieved in order to fulfil your job purpose and the activities that help in achieving these results. EXPECTED END RESULTS | MAJOR ACTIVITIES | Channels that achieve their targets | * Follow up sales goals for the channels including acquisition and retention...
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...Article Overview: The persistent success of technology based companies depends on their proficiency in creating next generation products and their derivatives. They found that most of the companies were unable to complete such projects on schedule. The companies also had difficulty developing the derivative products needed to fill the gaps in the market that their next-generation products would create. The root cause problem was in the product definition phase and not spontaneously; all the successful companies have learned how to handle the technical and marketplace uncertainties in their product definition processes. Paper describes the actions of companies used as best practices which can improve the definition phase of any company's product-development process. They have grouped the techniques into three categories and carefully lay out the steps that companies need to take as they work through each stage. They can help companies capture new markets without major delays and tools used by managers facing the uncertainty that goes with developing products for a global marketplace. The product strategy being first step to create a clear map of company’s product stream for next 2 years. The challenge is to keep no holes for competitors to exploit opportunities. This step defines the product streams to include both products and their derivatives and it may not be final and can be revised at various miles stones in future. The second step to develop project organization which...
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...plans to authorize national rollout of a new product, Sweet Dream, to complement its established frozen specialty dessert, LaTreat. Challenges To find the challenges, I had analyzed the SWOT factors in order to better ascertain whether Paradise did the right thing in order to pursue their goals and the recommendations are based on these factors. Internal External Strengths 1. Using the market data. 2. Positive results from the test markets for Sweet Dreams brand. Weakness 1. Focusing more on LaTreat 2. Senior Management go by gut feeling rather than market research data 3. Not using data to the fullest by the Product Manager 4. Less testing markets used for Sweet Dreams Opportunities 1.Growing markets 2.Use of market research data 3. Launching a fighter brand SO Implications & Scenarios 1). Strengths – Paradise is already using market research data for studying their products performance Opportunity – Paradise has vast information and data available from the market, which can turn the tables towards Paradise products. Its high time that Paradise utilizes this research data optimally and subsequently gain revenue and market share as well as make decisions for the launch of new product Sweet Dreams as fighter brand. The market is growing and it is the right time for the Paradise Foods to focus on launching the new brands. WO Implications & Scenarios 1). Weakness – The senior management at Paradise do not take the insights from...
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...1. What is product management? - The organizational structure within a business that manages the development, marketing and sale of a product or set of products throughout the product life cycle. It encompasses the broad set of activities required to get the product to market and to support it thereafter. 2. Why is it product management is important in the field of marketing? -Product management is important in the field of marketing so that you can define, develop, deploy and maintain products and services. 3. Give at least 10 breakthrough innovations that change our lives. a. Air conditioner – Cooler than electric fan great for hot climates. b. Electronic Mail – you can get your mail instantly c. Electronic Load – more convenient than prepaid cards because of its cheaper denominations and it is readily available everywhere. d. Mobile Phones – easy to carry than telephone and communicate. e. Digital Camera – easier way to view your picture right after you took it. f. Foldable Umbrella – you can carry it anywhere without any hassles. Fits easily in your bag. g. Automobiles – more easy to use for starters because of its automatic transmission/ h. Play Station Portable – you can carry it anywhere and you can get games just by downloading it. No need for Cd’s i. Washing Machine – easy way to wash clothes. No need to use your hands. j. MRT/LRT – easiest way to roam around Manila without getting caught...
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