In this report, researcher will be answering two different questions from the assignment. First, the researcher will discuss and suggest some feasible application considerations when developing a new product development strategy for Google Glass. The information which included will be elaborated and discuss with examples. Next question, researcher will illustrate how Google Glass better manage innovation within the organization to stay ahead of its competitor in the industry? The information in question related will be discussed and elaborated in paragraph form. For conclusion, the researcher will be made after the two questions completely done. Final conclusion will be conducted with ways to improve and ideas to put into Google glass.
Discuss and suggest some feasible application considerations when developing a new product development strategy for Google Glass. Market Analysis
The new product development strategy is the strategies in spite of evidence of its success. In new product development, researcher found that many managers hesitate to establish a policy for new product development said by (C.M.Crawford, 1972). The new product development strategy is the first stage need to be done on a company before they launch a new product to the market. In the other hand, there are basic steps need to include in the new product development steps there are concept, ideation, design, test, and release. Due to the research, the benefit after implement those steps to a new product development lead the company to the profits increasing. For Google glass, first the concept need to be define clearly and considerations need to be concern for the new product development. Next market strategy will be market analysis because there are several points need to be analyzing in the market analysis such as target market, market opportunity, and market segmentation. Target market is the main group of user that been targeted who will be using the product which is the Google Glass. In this step, researcher need to understand how to target and what should him/her putting inside new product development strategy. Market segmentation is to differentiate the different type of market and identify which market is having the most potential customer for the new developing product. The company then will target on that market and work on the new developing product. Other than that, market segmentation also ensure researcher know the market trends, size and growth. Researcher need to understand what the market needs first in the new product development. For example, Google glass provides questionnaire and interview questions to the public before them implements functions in the Google glass development. This is to ensure the product will be accepted by public after it launch. The market segmentation method is a must for every product development because it clearly identifies the target users for the new developing product and the correct marketing plan can be run on that particular target users group. Market size and growth needed to identify current sales that made and also the potential sales that will be made can be estimated based on the analysis. Besides, the surveys that done on the customer will be using as one of the methods to identify the size of the market. This strategy is considered important because it may help to estimate the number of potential users that will use the product. On the other hands, it also means that the greater the size of market, there will be more profit that able to make by the Google Glass Company by introducing the product to the public. Lastly, market trend strategy need to be implemented because it shows the response from the public in the new product development (Google glass). Targeted market will be done in this strategy and how it will be affected the market. For example, Google glass will provide new functions and it will beat its competitor similar product development. Customer Needs
References: CLARK, CHARLES H. 1980, Idea Management: How to Motivate Creativity and Innovation, New York, AMACOM.
ELLIOT, G, et al, 2008, Marketing: Core Concepts and Applications, John Wiley & Sons, Australia
HAQLUND E,L, and MATTSON, J, 1995, Analysis, Planning, Improvisation and Control in the Development of New Services, International Journal of Service Industry Management, Vol.6, Issue No.2, pp.34-35
KELLY, P. and KRANZBURG M., 1978, Technological Innovation: A Critical Review of Current Knowledge, San Francisco, San Francisco Press.
TIDD et al, 2009, Managing Innovation: Integrating Technological, Market and Organizational Change, 1st edition, Chichester, Wiley
TROTT and PAUL, 2005, Innovation Management and New Product Development, Prentice Hall.
WALKER, J, 2004, A Step Ahead of the Future, BRW, 17 June, pp.54
ZEITHAML, V, A, et al, 2009, Services Marketing: Integrating Customer Focus Across the Firm, McGraw-Hill
Read more: http://www.ukessays.com/essays/marketing/google-innovation-and-new-product-management-marketing-essay.php#ixzz359WGCBvM
Please join StudyMode to read the full document