New Product Generation

2768 WordsOct 5, 201412 Pages
NEW PRODUCT DEVELOPMENT PROPOSAL An assignment in Marketing Management Submitted to Prof. Semila Fernandes BY Avik Chattopadhyay 13020841 Jerin George 13020841078 Neha Venkateshan 13020841 Priyanka Manchanda 13020841097 Srushti Shah 13020841107 Suraj Garg 13020841116 SECTION B BATCH OF 2013-2015 TABLE OF CONTENTS 1. Introduction to the product and company mechanism (stage gate) 2. Identification of opportunity 3.1.1. Theory 3.1.2. Opportunity recognition 3.1.3. Opportunity Development 3.1.4. Opportunity Evaluation 3. Categorizing the new product 4.1.5. Disruptive…show more content…
The company has a strong R&D that can incorporate the nano technology into clothes. The capacity and some structure would need to be revamped. Steps in opportunity identification framework as discussed : During the evaluation of capabilities the risks were also identified and the product would fall in a moderate risk zone, with a good potential. CATEGORISING THE PROPOSED NEW PRODUCT: The company, with the introduction of this product will create a disruptive innovation. It can be a kind of Blue Ocean Strategy, which will have huge implications for the market of detergents. DISRUPTIVE INNOVATION AND CREATING A BLUE OCEAN: A distinctive aspect of Blue Ocean Strategy is that instead of looking to serve existing prime customers in the existing market place, it is largely concerned with modifying a product or service offering, and establishing new market space by targeting dissatisfied customers and non-customers, the potential customers for the new venture. Blue Ocean Strategy provides an approach to conceiving ventures that allows you to reconfigure your product or service offering and its market. A disruptive innovation happens in the same segment such that it throws the competition off balance and enters an untapped market. Here, with the introduction of self washing clothes, the company plans to have an overlap of these two techniques. IDEA GENERATION: The company was looking for a breakthrough product. Hence, the idea generation
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