Principles of Marketing: New Product Development

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Dexit Inc. is a business that focuses on electronic payment systems for retail transactions. The nature of the business would start with purchases and tinkle down to petty cash purchases, pre paid purchases, and electronic purchases (Exhibit 1) .The Dexit platforms run on Radio Frequency Identification (RFID) technology. Consumers would use their “tags” at a retailer store’s terminal. This terminal is linked to Dexit’s server which would be able to read the “tag”. From here the server will be able to go into the consumer’s prepaid account, which would limit the consumer’s sending to the amount within the account. Even with this broad industry we have are branding themselves as an exclusive e-payment company. The core product

The traditional view of marketing is that the firm makes something and then sells it. A) Will not work in economies where people face abundant choice. B) New

In this case, you and your classmates play the role of the marketing department in a firm involved in new product development. This case we link each other in different department and position. We have different duties. How to coordinate our ideas in company,

John Doe, a typical parent of a toddler going to purchase a box of cereal, must first decide a few things before he will become in possession of the cereal. First he must choose at which store he will shop. Next, he must decide what type of cereal to purchase. And finally, he must choose a brand of the particular style of cereal to buy. All of these decisions can surprisingly be influenced by companies. In fact, most of the time consumers are unaware that they are being controlled, so to speak. Many tactics are employed, and many of the tactics are quite imaginative. This manipulation serves to not only increase a company’s profits, but also it serves to make the brand more recognizable. The game of product marketing is remarkably complex due to the influences on consumers through product design, product advertising, and product placement.

In 1958, the Rocket Chemical Company created the commercialized the consumer market for home lubricants by preparing and packaging the aerosol WD-40 for sale. This effectively created the home lubricant market, giving WD-40 a monopoly on their newly created space. The success of Wd-40 began to truly shape in 1961 after Hurricane Carla, where victims needed to recondition rusted and water damaged machinery and vehicles, a job perfectly suited to WD-40 but no other product on the market. By 1965, WD-40 sales represented the vast majority of the company’s revenue and manufacture of other products

Suppliers – entities that provide the materials used by an enterprise for its production or operations

Healthy Potion is a business that specializes in producing a unique healthy beverage. It is in a good developing situation and has made considerable profits from its current business activities. However, the business that has reliance on one single product and single operation system might have difficulty in sustainable development in the long run. Therefore, it is significant for the business to work out plans for business diversification with improvement of its risk management for the future growth. This case study report will provide strategic analysis and strategy for new business development using SWOT analysis as well as some recommendations funds raising.

2. Given the industries in which Cisco competes, what are the implications for the major types of buying situations?

The huge market is available in the metro cities as there are large number of professionals found in these cities so there are lot of opportunities in these cities so we will mainly focusing on these cities.

New products are a vital part of a firm’s competitive growth strategy. Leaders of successful firms know that it is not enough to develop new products on sporadic basis. What counts is a climate of a products development that leads to one triumph after another. It is commonplace fro major companies to have 50percent or more of their current sales in products introduced within the last 10 years. Some Additional facts about new products are: • • • • • Many new products are failures. Estimates of new product failures range from 33%90%, depending on industry. New product sales grow far more rapidly than sales of current products, potentially providing a surprisingly large boost to a company’s growth rate;

Target Market: We aim to target our product to women living in metropolitan cities like Karachi, Islamabad, and Lahore who are constantly on the move as students or working women.

4) PlayStation gaming company should to create that type of glasses in which there is facility of watching television and playing different type of games. This type of glasses will provide advantage to the people to watch different types of movies, program and play different type of exciting games during traveling.

A G E N E R A L O V E RV I E W O N

“Marketing is the development and efficient distribution of goods, services, ideas, issues, and concepts for chosen consumer segments” (Kurtz & Boone, 1984, p. 8).