Marketing Development Of New Product Development

The NPI process is intended to facilitate product development within Juniper, from concept definition through to end-of-life. Each product requiring a new model number is associated with an NPI Program unless an exception is granted by the ERT. The NPI Phase Exit Requirements document, J3.02.P15.M01, provides detail of the key cross-functional requirements for each phase to proceed to the next. Additional requirements may be embedded in other I2O business processes. An NPI team will manage the product development through the various phases of the NPI process. An exit review is required to transition between phases. The NPI process is more precisely called the Phase Gate (NPI) I2O

Innovations form the main sources of competitive advantages and are always of significance for the growth of a company. Companies or organizations put their greater efforts in improving their performance by finding new ideas and knowledge on the best way of beating their competitors and therefore give satisfaction to their customers. There are various factors involved in the innovation design system which can be either internal or external.

Sol. Q2. A) New Product Development (NPD) is defined as the process of bringing a new product to the market on the Business and Engineering fields. It can be also defined as the process of developing a product for sale from a market opportunity. There are various methodologies to develop a product are:

Product Development as a marketing technique is where a business develops a new product to sell to existing customers. Such as, if a customer buys a Playstation game and then buys the expansion pack that offers more

- Product Development- product development is composed of existing markets and new products, it occurs when an organisation with a current or existing market undertakes a strategy of creating a new product which provides

Because the external environment of any company is ever-changing, opportunities must be sought and taken to succeed and continue to compete in the marketplace. Such opportunities can be derived from a variety of reasons (such as new regulatory restrictions or internal mandates), so taking the time to properly identify prospective opportunities for product development is absolutely crucial for an advantage over existing and potential competitors (Crawford, Di Benedetto, 2015). While many companies' products are in a position where they could likely continue to thrive as they are, seeking and taking new opportunities to sustain product growth could pay off in the long run.

Innovation includes making and marketing of novel. These challenges in various combinations make innovation output an extremely uncertain process. Therefore, a useful and significant way to deliberate the innovation process is the management exercise. “Innovation” is not invention or creation. Innovation is making an effective product that is recognized by the audience in the market. “Linear models of innovation” are an explanation of the process of innovation. It is an incremental and unidirectional procedure from applied and vital sciences. This essay will revolve around strengths and weaknesses of linear model and its suitability in current business setting. For “linear models”, flow of knowledge is essential in the

All this is possible when we are fully aware from those risks and profits which are associated with that product or service. Product development and market research play an important role to make that product useful and profitable in existing market.

Company G’s mission is to improve the quality and convenience of people’s lives and they have done so with their latest small appliance, the espresso maker. It fits their goals by reducing its size with innovative design solutions and ergonomics that will put Company at the forefront of the industry. It will save time and money and ease the daily morning grind for consumers.

The product that will be developed will be new and other companies will take the benefit from the result experience and learning of development of new product.

According to the calculations based on these assumptions and data, even if the product quality is below the expectations, minimum business requirements can be achieved. So, financially it is a profitable product and TruEarth should launch it.

Next, the cooperation between management and employees is important which the employees can be supervising through the senior manager. The act of supervise enable the management to plan the activity of the employees by giving they task in order to help innovation process. The firms also need to pay attention to the new technology such as machine that will help the firm to produce the product. The firms need to identify the technology able for them.There are some success factors that can help this process run effectively. Alignment between NPD and strategy is important. This is because the strategy plays a big role for further actions, it must be determinant and realistic and not only that the cooperation between the projects is crucial so that we can wider the information needed. Next is an early and well-defined product definition. This is the phase where the producer knows about everything pertaining to the products. The products must be well defined to avoid negative circumstances and impacts. Furthermore, beneficial external cooperation with others

Of the many strategies and initiatives that companies engage in, new product development and product introductions say more about how well a company orchestrates its many systems, processes and strategies internally. The new product development and introduction process is responsible fro over 60% of the revenue of a given company (McNally, Akdeniz, Calantone, 2011). The importance of orchestrating branding, marketing strategy, new product development, the product launch, and after sales and service into a single unified strategic initiative is critical for a company to earn back their investment (McNally, Akdeniz, Calantone, 2011).

This is defined as the development and introduction of a product not previously manufactured into a marketplace or the presentation of an old product into a

“A change to a product that a company offers in the marketplace-or introducing an entirely new product- is the most easily recognized type of innovation because consumers see the changes fist hand” (Tony, Marc & Robert, 2012, P35). In the increasingly competitive global business environment, new products are effective strategies to maintain their competitive advantage. Products have their own market life-cycle, any product will have a significant decline in sales of the aging period. It is difficult to avoid the profits decrease even you promote the products. A new product which adapt the market the need is very important and product innovation is necessary for companies. According Poter (1990), product innovation is to produce something different that the market has never seen, that is an improvement on what is currently available to customers at that moment. Another term that can be used to refer to product innovation entails a product being significantly improved in respect to the use of the machine or service that has been improved (Cassiman & Martinez-Ros, 2007). Various improvements can be implemented on a product in order to improve its functionality. The product can be improved, either through hardware or software. Its functionality can also be improved depending on the specific use of the product.