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environmental and hence is not agreeable with this testing.

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  • "environmental and hence is not agreeable with this testing. (peta.org, 2010; July14)Motorola can be acknowledged as one of the best examples of efficient consumerconcept testing which involves the consumers at the right level. The research teamhas d..

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  • "environmental and hence is not agreeable with this testing. (peta.org, 2010; July14)Motorola can be acknowledged as one of the best examples of efficient consumerconcept testing which involves the consumers at the right level. The research teamhas designed the concept to measure the customer satisfaction level in certainaspects; safety testing, ecological anxiety issues, reliability, product performanceand all this complimented by regulatory compliance testing services. (2010; July 14)The service sector follow the same pattern alike the product development process.The service industries that are widely used are Banking, Telecommunications,Insurance, Media and Transportation. Positioning the service is an essential decisionwhich in actual differentiates the testing from that of product concept testing. (D. W.Cowell, 2010; May 6) For instance, the transportation industry is found to showvirtual images prior to the development of a service. The travel and tourism industryis observed to be best placed directly besides competition while other companies arefound to have formulated strategies by not dealing with the direct competition andhence serving the abandoned market place. It is however tough to evaluate theconcept testing in banking sector; the stress level or the problems been faced byconsumers is tested on the basis of previous experience. As reported by TracyCorrigan, (2010; July 09) the meaning of concept testing has transformed to stresstesting as due to the sovereign debt crises. These tests are aimed to understand theconsumers and thus involving them in order to reduce the stress level by the bankingcorporations of Europe.BUSINESS ANAYSIS31 Google`s biggest strength is its financial position and so is the case for Apple. One ofthe biggest barriers to a successful product development is lack of financialresources. In order to carry out the desired plans, it is necessary for a firm to befinancially sound. As backed by Cooper and Kleinschmidt (1995), from thegeneration of idea to the development of product a firm has to go through variousfinancial transactions and hence a firm should evaluate its financial positionaccordingly. Internet has proved to be an effective tool to analyse the financialstrengths of a firm due to its capacity of massive reach. (Ozer, 2003; Teo andChow, 2001)After the screening process, a firm must be able to identify its problems and thedesired solutions. The involvement of consumers can be analysed with the help ofSWOT or PESTEL or both depending the type of product or environment. Forinstance, a company may need data ranging from market conditions, market shares,and tax systems to political scenario in different countries. (Bakos, 1997) Googlewould appear and operate differently across various countries because the demandsare never the same. (Andrew B. and Conor McKeon, 2010; February 02) SonyVaio has different key functions in laptops in Thailand than it has in India. Thesebrands are possessed by a strong financial strength and thus their assessmentprocedure. The company should be prepared for accepting the change; the analysismay lead to a conclusion of not introducing the plan. The organization must acceptthe facts and should re-define the plan in order to avoid failure.MARKETING And COMMERCIALIZATION32 Lack of research has been found in case of marketing and commercialization assignificant aspects in the NPD process. Recent news highlighted the launch of PepsiMax in India after its success in various countries.(Anuradha Shukla, 2010; August03) This may look similar to concept testing but in actual is related to find theresponse of the consumers through promotion campaign.The overall judgement canonly be made on the basis of consumers` response after they are provided with thedeveloped product. The level of consumer involvement becomes the matter ofconcern in promotion. How can consumers be involved in the marketing andcommercialization process? This requires the marketers to adopt the innovativemarketing mix by considering the different aspects vigilantly. The past research has shown that a high level of uncertainty in adopting the productdespite of successfully laid plan.Gourville (2005) acknowledges the failure onaccount of the poor marketing process. However others contradict this by stating thata substandard design or marketing cannot be held accountable for the failure ofentire NPD process. (Tim Berry, n.d) The highly competitive market makes thingstougher. Sony`s Beta format was highly superior to its rival VHS but still laggedbehind and failed on account of their decision of not enabling the standardisedformat. The global leader Apple has also faced some product failures and is stillfighting for higher market share. The modern marketers are aiming to enhance the consumers` involvement inmarketing and commercializing their products. As argues earlier, the consumersdemand are fulfilled by producers on the basis of their voice, Stuart Elliott (2006;October 9)acknowledges the consumer to take a control over the products meant forthem. As quoted by a top executive of P&G, “consumer holds the highest power” (A.G. Lafley) P&G is well known as a dictator about how the consumers should noticeits products. He further adds that consumers can be interacted with modern digitaltools and satellite radio. Most firms are found to be interacting with its consumersthrough social networking websites as part of their marketing strategy in order toidentify what its consumers believe and think. In other words, the consumers arenow participating in commercializing the product.Pringles snacks were found to beanimated by a consumer and uploaded on YouTube. Further, other gave a statementof consumers being in charge and firms tend to be successful with a higher rate ofconsumer involvement in the marketing step. (Stephen F. Quinn, Senior VP, Wal- 33 "

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