A new product is not produced in a vacuum. It needs lots of cooperation and participation among the developing team members. For creating a new product you need a team of Operations, Marketing and Finance. It is proposed that the team should be cross functional, which will be easy to manage and will save time. Yes time is the most significant factor in new product development if your competitor makes it before you he will capture the market. In this case a perfect example would be Dawn Paratha and bunny’s Paratha. Dawn made it before bunny and captured the market. The last but not the least product should be made according to specifications of customers other wise it will definitely fail.
Friday, December 18, 2009
Subscribe to:
Post Comments (Atom)
2 comments:
No creativity is absolutely ORIGINAL, psychologists would testify that. But i fail to fully comprehend the last part that products should be according to the specification of the customer, of course if you ignore that you'll be committing 'marketing myopia'; yet how can we meet a customers specification if we're not in customization business. What the product has to be all about, to a great extent, is solving the problems of customers at large in a 'human-centered' and most practical and feasible manner. Medical syringe being the best example.
Umer every product is made according to the specification of customers who are target even in mass production.even a medical syringe is made on customer specification
what should be size of the needle
what should be properly packed etc
Post a Comment