SUCCESSFUL NEW PRODUCTS
2) CHARACTERISTICS THAT HELP A PRODUCT TO BE SUCCESSFUL
4) YAMAHA FZ
5) UNIVERCELL MOBILES
6) NEEYA NAANA
The world is a competitive battlefield for businesses, where every day new players enter with vigor and the existing ones tighten their grip on the market. But there is one path to creating your own unparalleled world in this battle, and that is by creating and innovating breakthrough products. CHARACTERISTICS THAT HELPS A PRODUCT TO HAVE A SUCCESSFUL BREAKTHROUGH: Meeting Customer need in a genuine way
Make sure product performance measures up.
Proper positioning and differentiation.
Carefully targeted advertising.
Strong product economics.
Ensure strong price-value relationship.
Effective distribution channels.
Being on the right timing.
The following are some of those products which achieved success. PAGALGUY:
PAGALGUY is an online youth community, primarily targeting MBA aspirants in India. Allwin Agnel (MBA Wharton 2008), the founder of PaGaLGuY was featured on the Young Turks program on CNBC in May 2005. The firm was also nominated as one of the ‘hottest start-ups’ in India by the Tata group. While it was not the first player in this space, PaGaLGuY can be credited with using unique ways to pioneer the large-scale development of its online community. PagalGuy gave its users a platform to voice their opinions and receive those of others on varied topics, from B-School entrance exams and choice of BSchools, to the latest happenings in politics and economics that are relevant for MBA interviews. Its high popularity today allows it to generate sufficient advertising revenues to keep the forum free for all users. It has become a catalyst for potential MBA aspirants in India, by providing high value examination preparation content, along with a large and supportive user community that engages in moderated discussions to addresses the concerns of all aspirants.
The Helping Hand
While almost all MBA aspirants applied to the few reputed business schools in India, aspirants were unsure about applying to other schools. Since application costs are high, it is advantageous to apply to select schools where the program is of adequate quality and there is a realistic chance of acceptance. Ranking are an important basis for aspirants to shortlist schools. However B-School Rankings published in major Indian business magazines used criteria that were not entirely relevant for aspirants trying to make this choice. The first PaGaLGuY Ranking of Indian B-Schools, released in November 2007 addressed this issue by combining the individual preferences of its vast pool of MBA aspirants, current students and alumni. The survey of 5500 verified individuals (after removing over thousand duplicate entries), made this possibly the “largest crowd-sourced B-school ranking in history.” This ranking was seen as the more relevant for aspirants trying to shortlist the schools to learn more about and potentially apply to.
The cult status of PaGaLGuY has kept it well ahead of its three major competitors as shown by the comparativereach statistics PaGaLGuY page views are 6.5 million per month in 2011, far higher than the 0.9 million of Testfunda, its next competitor. TestFunda, a test preparation site by IIM graduates has grown in popularity over time and has also published a book on CAT preparation. MBAUniverse (2006) is primarily a content portal and covers MBA events. Another competitor Totalgadha (started in 2006) also operates coaching centres.
Advertising space on PaGaLGuY is often sold out on the news portal and forums, primarily taken by private business schools,...
References: 1) http://www.narms.com/2011/06/nielsen-unveils-12-new-product-success-factors/
7) Article: A Sign of Revolution in Indian Bike Market by Amit Sharma
8) A.C. Nielsen, "New Product Introduction-Successful Innovation/Failure: Fragile Boundary," AC Nielsen BASES and Ernst & Young Global Client Consulting (June 24, 1999).
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