EMSM TP19 – Dana Lin
Team is Ready but Say NO to Project TKO
After Project Baton, was the Bella India team fully equipped to lead a new product development project? Was Project TKO the right one to tackle? I think Bella India team is fully equipped to lead new product development especially for India market. However, Project TKO is not the right one to tackle.
Why is the team ready for India market? Because there is big market demand and Bella India team has all the knowledge to meet the market requirement. For market demand, the EKG equipment market in emerging economies were expected to have 10% growth per annum as both the need and ability to pay for better cardiac care increase, and India is one of the fast growing markets.…show more content…
This means the demand is lesser but the competition is stronger. If Bella India wants to develop a new product for a new market, I suggest they focus their investment on the product segment that is growing and competition is smaller. Among the growing product segment, I think 6/12-channel is the potential segment to develop because its projected growth is the biggest and by 2017, it will be almost 3 times bigger than it is now (2010). And there are only 4 main players and market share is almost equally spread on 3 of them. This may imply that their products are similar in function and pricing. With Bella team’s innovative design of mobile connectivity which also gives their new product advantage to compete with these 6/12-channel main market players.
What's more, the TKO is planed to incorporate a digital image and communications (DICOM) is not a right choice, either. Since this is not critical in the near term, it's not necessary to add this feature at this time. This feature can be developed as a wave 2 stage or an upgraded version to sell in another time when the market is able to use and buy. More features add more cost. The challenging of the new product development is not only time but also cost. Because there are a lot of competitors are working on similar products already, if Bella India team wants to have first mover advantage, they have to complete production before anyone else. And take