...(2006), new product design can be defined as “a creative activity using market and company information to produce a 2 or 3 dimensional product that satisfies the consumer and aids company profitability”. Ulrich and Eppinger (2003) stated the process to develop new product need contributions from all the functions of a firm. Peters et al. (1999) develop a model to explain the new product design and development (NPDD) process. It was consisted of 4 stagse. First, pre-design/development, the phase to identified business opportunity. Second, design and development process, the phase to convert business opportunity into viable activity. The third, post design development consisted...
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...experience. From the very beginning they welcomed me cordially, which made my internship and my job much easier and enjoyable. I warmly thank them for their support. And, lastly I would like to thank all the respondents of my survey at desk of the Branch. Out of their busy schedule they made time for me and provided me with useful information. I thank all of them for their cooperation. Executive Summary JANATA Bank Limited offers to explore the world of progressive Banking in Bangladesh. It is a state owned commercial bank and is catering the need of the mass business people. Janata Bank was born with a new concept of purposeful banking sub serving the growing and diversified financial needs of planned economic development of the country. JANATA Bank Limited (JBL) is the second largest public commercial bank among the others public bank in Bangladesh. The Bank has set up a new...
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...THE PATTERNS OF SUCCESS IN PRODUCT DEVELOPMENT KIVANC UNCU Applied Business Research And Communication Skills Dr. Peggy Bilbruck June 21, 2014 ABSTRACT Getting a successful result in product development can be considered a typical purpose for any R&D business. The purpose of the paper is to make a good solution the differences of success at R&D project levels. Using the verification from industrial example, the paper shows that the sophistication of the concept of achievement in product development. The paper finalizes that there is often just an indefinite correlation between aspects of R&D success –financial, technical and project management. The main idea of the paper is on the development of investment products for the paper industry. Keywords: R&D success, product development, Performance measurement INTRODUCTION Industrial research and development (R&D) uses science and technology to create new things or it improves products or processes for profit making companies. Product development, which is a very important part of R&D, can see the situations that are expected to improve a company’s competitive advantage and increase future success in periods. R&D management has been an essential point with the increase in investments. At the same time, performance measurement also has been an important contribution to increase of product development. Comparably, the research usually has been used a theory by companies instead...
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...Product Innovation Best Practices Series Best Practices in the Idea-to-Launch Process and Its Governance Reference Paper #45 Robert G. Cooper and Scott J. Edgett Compliments of: Stage-Gate International and Product Development Institute Inc. This article appeared in Research Technology Management March-April, pp 43-54 For information call +1-905-304-8797 www.stage-gate.com © Product Development Institute Inc. 2000-2014 Product Development Institute Inc. and Stage-Gate are registered trademarks. Logo for Product Development Institute Inc. used under license by Stage-Gate International Logo for Stage-Gate used under license where appropriate. Best Practices in the Idea-to-Launch Process and Its Governance A study of new-product development practices at 211 businesses provides insights into best practices in both the idea-to-launch process and its governance. Robert G. Cooper and Scott J. Edgett OVERVIEW: Most firms now use some form of idea-to-launch process such as a Stage-Gate® system. The question is: Do these processes really work? And what are the elements of a best-in-class idea-to-launch system that really make a difference? A second and related question concerns the governance of the idea-to-launch model. Sadly there is a lack of hard evidence as to what governance structure works best and just what its impact is, if any. This article reports the results of an American Productivity & Quality Center (APQC) and Product Development Institute (PDI)...
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...WINNING BUSINESSES IN PRODUCT DEVELOPMENT: THE CRITICAL SUCCESS FACTORS A formal new product process isn’t enough—you need a high-quality process, a clear and visible strategy, enough people and money, and a respectable R&D budget. How does your program rate on these 10 metrics? Robert G. Cooper and Elko J. Kleinschmidt OVERVIEW: 2007 is Research-Technology Management’s 50th year of publication. To mark the occasion, each issue reprints one of RTM’s six most frequently referenced articles. The articles were identified by N. Thongpapanl and Jonathan D. Linton in their 2004 study of technology innovation management journals, a citation-based study in which RTM ranked third out of 25 specialty journals in that field (see RTM, May–June 2004, pp. 5–6). The benchmarking study reprinted here was originally published in 1996 and has been updated with its author’s reflections. Their study of 161 business units uncovered the key drivers of new product performance at the business unit level. Ten different performance measures were gauged, including percentage of sales by new products, profitability and success rate. The ten gauges were reduced to two key performance dimensions—profitability and impact—which defined the “performance map.” Nine possible drivers— including strategy, process, organizational design, and climate for innovation—were investigated, and four key drivers of performance were identified; namely, a highquality new product process, the new product strategy for the business...
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...Journal of Business Research 55 (2002) 389 – 400 Benefits associated with supplier integration into new product development under conditions of technology uncertainty Gary L. Ragatza,*, Robert B. Handfieldb, Kenneth J. Petersenc a Department of Marketing and Supply Chain Management, Eli Broad Graduate School of Management, Michigan State University, East Lansing, MI 48824-1122, USA b North Carolina State University, Raleigh, NC, USA c University of Oregon, Eugene, OR, USA Abstract In many industries, firms are striving to integrate material suppliers earlier into the new product/process development process. This involvement may range from simple consultation with suppliers on design ideas to making suppliers fully responsible for the design of components or systems they will supply. In this paper, we develop and test a conceptual model of the effect of elements of the supplier integration process on cost, quality, and new product development time, under conditions of technology uncertainty. Technology uncertainty is operationalized here, as the degree to which the product or process technologies employed in the project are new, complex, and/or rapidly changing. The results suggest that technology uncertainty have a negative impact on cost results, but no direct effect on quality or cycle time. The results also show that certain elements of the supplier integration process are more likely to be employed under conditions of technology uncertainty, leading to significant...
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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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...Case Study TruEarth By Michele McKimmy Marylhurst University July 5, 2012 Professor S Abstract In the fight for competitive market share it is important for a company to bring new product to the market. TruEarth Healthy Foods, a maker of 100% whole grained gourmet Italian meals achieving great success with Cucina Fresco pasta, observed a decline in market share due to competitors offering like products. The company looking for new venues looked into launching a new fresh made pizza line in order to be competitive with its leading competitor as well as subsequent companies with a lower grade product such as Kraft and Nestle. TruEarh took great care in their research and development of the new product leading to analyzing the value and success of launching the pizza product line. Case Study TruEarth Case Questions: Keep in mind... what is the market need? How was the market segmented and what trends influenced the segmentation? 1. Why was Cucina Fresca pasta successful? How would you compare the pizza opportunity to that for pasta? How would you compare the actual product development process for each? 2. Using the forecast model for pasta shown in Exhibit #5, what is your forecast of the demand for pizza? Hints: the necessary data is contained in Table B and Exhibit 7. There is a significant difference in the "likeliness to buy" results for past TruEarth customers and non-customers. Actual penetration of the Cucina Fresca parent brand may range from...
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.... Building better supply side relationships in order to bring products to market faster . Introduction: In literature the systematic approach to the integrated, synchronised design of products and their related processes, including manufacturing and support is known as Concurrent engineering. Concurrent engineering as an approach is intended to cause the developer of goods and services from the outsets to consider all elements of the product life cycle, from the products’ introduction to its inevitable decline (Winner, et al., 1988). Concurrent engineering (CE) as a concept has been made more aware in the more recent decades in terms of business practice and in literature. It is widely understood in many industries, from automotive, and material construction, as a common term for developing new products in a cross functionally integrated manner primarily through the use of multifunctional teams in the case of this literature with suppliers and overlapping previously existing sequential activities (Pawar. et al., 2002). Immediately visible results of successful CE implementation are improved quality, reduced time to market and reduced life cycle. Over the recent years, case studies documenting the successes and failures of CE have arisen, many highlight the importance of reduced time to market and the role of the purchasing department in doing so. In the previous literature, the use of CE in its early years benefitted companies in the automotive and aerospace industries...
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...Critical Thinking Case Study GEN/480 University of Phoenix Lisa Stansfield To the CEO of AcuScan: Here is a last report that I have devised for you which explains the up-to-date circumstances at AcuScan and a few suggestions and actions that ought to be taken and the reason. Chris Martinas, VP of Product Development and Pat Lambert, the new Director of Marketing have been collaborating on a new product that has to be initiated by the final part of the year. The new product happens to be the iScanner, which they have previously promoted except it will have new features, which makes it new and more advanced. The two of them have been figuring out a way to lower the budget by 15% and try not to not dismiss current employees. They have the funds of 400 K to use and have to convene with the right departments to launch the project. There was a problem through the emails among Pat Lambert and Kelly Thomas, Chief Engineer of Product Software. Kelly designed the original iScanner that was the groundbreaker in the developing retinal scanning security business. After discussing with you about the making of the product and not going outside 400K, Chris emailed Pat and Kelly on the way to do that and the way they could reach the deadline in August. The initial reply to that email was from Pat Lambert, the email was very optimistic and stated how Lambert did not think that it was going to be an issue to generate. The email after that was from Kelly saying that the team was placing...
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...Phoenix Material Case Study Assignment Assignment Overview PREPARE A REPORT FOR THE CEO OF ACUSCAN ABOUT THE SITUATION DESCRIBED IN THE GEN 480 CRITICAL THINKING CASE STUDY. YOUR REPORT SHOULD INCLUDE THE FOLLOWING TWO PARTS: 1. Part One: Respond to the specific questions on the worksheet that follows (100 points possible). 2. Part Two: Write an executive summary for the CEO of AcuScan. (100 points possible). PART ONE: USE THE CASE MATERIALS TO COMPLETE THIS ASSIGNMENT. Analysis 1. Describe all assumptions seen in any of documents provided in the case study. For full credit, provide AT MINIMUM: four to six assumptions held by Kelly; six to nine assumptions held by Pat; two to three assumptions held by Cliff; two to three assumptions held by Chris. a. Kelly- the Senior Engineer is perhaps the most realistic of the employees. The statement in the February 19, 2003 email explaining, “I can design one feature completely and make it work by August," is credible (UOP, 2003, p. 17). After all, the same email explains that programming involves much more than key strokes. It involves planning, testing and quality control (p. 17). In the previous February 19, 2003 email to Chris, Kelly explains how difficult it is for the programming staff to maintain existing services and find time for something new (p. 16). While programming staff was dramatically reduced in the year prior, Kelly’s belief might be partially fallacious. If the new project utilized the current...
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...Case study “Extending the product life cycle” Answers by Lyazzat Bayetova 1 . Using current products familiar to you, draw and label a product life cycle diagram, showing which stage each product is at. 2 Suggest appropriate aims and objectives for a small, medium and large business. Business | Aims | Objectives | Small | Attract more customers | Reach 10% of return on investment in first year | Medium | Increase profit | Reach 5 million sales by the end of the year | Large | Expand internationally | Increase market share by 15% by the end of the year | 3 Explain the difference between market orientated routes and product orientated routes in Ansoff’s matrix Market orientated routes includes market penetration and market development. Market penetration is when a company grows its sales without changing its product. The company may spend more in advertising or promotion. Market development is when a company enters new market with same product. For example, expanding geographically, demographically or introduce new use of the product. Product orientated routes includes product development and product diversification. Product development is a strategy that suggests firms to develop new or modified products to the same market. Product diversification occurs when a company offers new products to new market. In conclusion, the difference between these orientated routes is change in market or in product. Market orientated routes focuses on sales of same product in...
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...Francis Shirriff. Over the years, a number of Ontariobased wineries were established, eventually amalgamating into three large companies. In 1993, these companies; Cartier, Inniskillin and T. J. Bright, merged together to form Vincor. As of 2004, Vincor was the world’s eighth largest producer and distributor of wine and wine-related products. Case Background Vincor: Project Twist details the decisions that Vincor’s marketing team had to make in order to create a new alcoholic beverage to bring to the market. This task was challenging due the fact that “what’s trendy today may not be trendy two years from now,” as stated by Vincor’s marketing manager Kelly Kretz. Key Issues and Decisions The key issue in this case was coming up with a concept for a new alcoholic beverage product. Decisions to be made in regard to the product included: product characteristics, positioning, target market, branding, packaging and distribution strategy, pricing, and promotional strategy. Vincor was already a well-established player in the wine industry, holding 16% of the refreshment market in 2004 with their VEX and Growers Cider brands. Creating a successful new cooler could help Vincor gain an even larger share of the $230 million refreshment industry; however, reaching success in such a highly competitive market was a significant hurdle to...
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...into the Ansoff matrix as it relates to Berber Food case study and identify the relevant market possibilities and opportunities. I also would like to add to your view on Diversification, apart from Mr. Kelly previous experience was with several multinational companies than sold a range of products; another good point to consider is why the company enters new markets with new products?When this happens there must be a certain level of confidence (capital, resources, customer needs analysis etc.) and proper risk assessments with viable solutions in place in order to successfully penetrate new markets. Hi Renne , Great post your definition on growth strategy is very detailed. While I wish to agree with your strategies of the fruit cups, water , milk etc. in the market region since we both share the same view that the marketing strategies to expand on the product development strategies In the Caribbean regions is a good source of market penetration which would also help in the sales and promotion pricing strategies for Berger line products. While I agreed with some of your growth strategies, like the introduction of fruit cups, water and milk in your product development strategy and expanding the market in regions, I think our responses varied. The market penetration strategy you suggested of extending sales to a new age group of toddlers is really a market development strategy as it is the existing product, but for a new market. Good market penetration strategies may include...
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...Saxonville sausage co. Case study | Overview What is the current situation? Saxonville Sausage company is currently loosing it market share on its various leading product lines produced except for one Italian sausage brand namely Vivio. However Vivio represents 5% of the company's total revenues. A new marketing director, in the company is currently in the process of undergoing a research to identify opportunities and possible market expansion strategy. The research result ended up with two marketing concepts that are almost equally viable and thereby put the management team in a dilemma on which of this two option to consider. TOWS matrix strenght weakness- Entire family enjoys the product - Weak brand name ( Vivio )- Rivals offer frozen sausage - Consumed rarely on special occasion- Easy to cook and quick - Niche segment on the northeast - Meal maker Threat Opportunity - cannibalisation - many local rivals ? | * The TOWS matrix helps us identify the possible opportunities embedded in this market. When cross analyzing strength, weakness and opportunity we can understand that the company finds itself with the following opportunities. * Product share is growing * Repositioning...
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