1. INTRODUCTION In order for a product to be successful, the firms have to identify the needs of the customer and make the product according to the needs and within the cost and the time margin. And there exists certain criteria or steps for the development of the product. – Planning – Concept development – Architectural (system-level) design – Detailed design – Testing and refinement – Production design and ramp-up This coursework, detailed about a Mechatronics design model. Section 2 is describing the design methodology.
New product development has its share of challenges. Organizational set up has to be favourable to support new product development. Foremost companies must allocate funds for research and development, the conventional way is the percent of sales technique. Others chose to allow employees dedicate a certain amount of work time on new product development. Companies next have to organize the process of development.
Product Strategy A product is anything that can be offered to the market to satisfy need or want. Our objective is to make ourselves as a great place to eat, where customer can count on mouthwatering food. The strategy will emphasize on the strength of our product. We will position ourselves as aggressive and innovative company that supplies the market with high quality food stuffs. Our main focus will be customer retention for that we are ready to serve customers best from our side.
The product development is the business policy of the organization which includes the development of the new designs and styles within the organization. This process conveys more business to the organization, by showing pro-activeness in design development process by knowing the needs and wants of the cutomers/buyers impresses them. Production merchandiser must keep update to buyer time to time about the product development done by organization. The buyer visits to the factory is one of the key place, where merchandiser can develop some positive confidence on the company by showing their facility and designer teams. This motivates the buyer to give the design development to the organization instead of doing themselves.
Product design is a discipline that’s constantly being shaped and reshaped by designers. Be it Jonathan Ives with his timeless apple products or Charles and Ray Eames with their ergonomic furniture designs, many designers have played and continue to play a significant role in evolving this discipline. However, there are three designers whose philosophy I personally connect with. These designers have influenced my work and aspirations as a product designer. Leonardo da Vinci is the first designer who has influenced me.
Coming up with a new product for an organisation requires an organized guide that gives the organisation an unmistakable procedure to follow. Product development does not necessarily entail having a final substantial product or service without following some phases to reach to the final product or service. Product development incorporates the whole process from coming with the initial idea to conveying the product or service into the market. When an organisation follows several rules or stages accordingly, the product development process will become more engaged and adaptable making the final product to be acceptable by the market. Bruce Tuckman in 1965 identified four stages of group development that can be used to come up with a new product
Pros of Product Orientation: • A small scale business can get benefit if it selects product oriented business model because product oriented business only focuses on its strengths due to lack of capital the company cannot spent its capital on research regarding needs and wants of the customers in the market. They can make their name in the market by selling quality goods at cheap price. • You can outsource any of your
The product life cycle has to do with the life of a product in the market with respect to commercial costs and sales measures . When we say that a product has a life cycle it means that the product sales pass through different stages and that profits rise and fall. The product life cycle takes place over a variety of stages. For this essay, the example of a new flavor of Pepsi will be used, and the first stage is the New Product Development Stage. At this stage, this product is being brought to existence after ensuring that the product will be something that people will be interested to buy.
The product life cycle, in a marketing context, is all the stages of a product 's life span that are related to its promotion and sales. The marketing life cycle is traditionally broken down into four stages: introduction, growth, maturity and decline. Introduction stage The introduction stage is the stage in which a new product is first distributed and made available for purchase, after having been developed in the product development stage. But introduction can take a lot of time, and sales growth tends to be rather slow. Profits in the introduction stage are negative or low due to the low sales on the one hand and high-distribution and promotion expenses on the other hand.
Each product basically will go through four stages which are introduction, growth, maturity and decline of the product (refer to Figure 1 in Appendix 1). The first stage of product life cycle is introduction of product. The new product is being introduced after progress is finished at this stage. According to Dibb et al. (1997), introduction defined as the product’s new