Developing New Spectacles Management Case Study Essay (Case Study Sample)
Prepare a 500-word document in current APA format, which discusses how you would overcome challenges using the principles (at least 2) discussed in the first five (5) chapters of the textbook and also identified within the case study.
Developing New Spectacles Case Author: Ian Chaston Online Pub Date: March 06, 2016 | Original Pub. Date: 2009 Subject: New Product Design & Marketing, Small Business Management Level: Basic | Type: Indirect case | Length: 506 words Copyright: © Ian Chaston 2010 Organization: | Organization size: Region: Southern Europe | State: Industry: Manufacture of wearing apparel| Manufacture of computer, electronic and optical products Originally Published in: Chaston, I. (2010). Developing New Spectacles. In Entrepreneurial management in small firms (p. 139). London: SAGE Publications Ltd. ISBN: 9781848600256. Publisher: SAGE Publications Ltd DOI: http://dx.doi.org/10.4135/9781473939004 | Online ISBN: 9781473939004 © Ian Chaston 2010 This case was prepared for inclusion in SAGE Business Cases primarily as a basis for classroom discussion or self-study, and is not meant to illustrate either effective or ineffective management styles. Nothing herein shall be deemed to be an endorsement of any kind. This case is for scholarly, educational, or personal use only within your university, and cannot be forwarded outside the university or used for other commercial purposes. 2020 SAGE Publications Ltd. All Rights Reserved. This content may only be distributed for use within Embry Riddle Aeronautical Univ. http://dx.doi.org/10.4135/9781473939004 SAGE © Ian Chaston 2010 SAGE Business Cases Page 2 of 3 Developing New Spectacles Abstract This case study considers how new product development is managed in SMEs, as demonstrated by the Italian spectacle industry. In particular, there are a number of influential factors acting on the new product development process, which can go some way to ensure ongoing success. Case Case aims: To illustrate some of the variables which can influence the effectiveness of the new product development process in small firms. Due to location inside the EU and sector labor costs, the Italian spectacle (or eyeglass) industry is in no position to compete on the basis of low price. Ongoing success is critically dependent on positioning their products as fashion goods. This means there is strong pressure to continually update and introduce new designs with at least 30 percent of product lines being replaced every year. This situation makes the sector an extremely interesting candidate for research on SME sector new product management (De Toni & Nassimbeni, 2003). The start point in creating a new spectacle product is the generation of a new design. This new design provides the template from which to construct a prototype to evaluate both the esthetics of the design and the viability of manufacturing the new product. A common problem which can emerge is poor interaction between designers, the marketing team, and the manufacturing group. As a result, delays occur in decision-making. In some cases, a lack of a close collaborative working relationship can result in the new product evolving into a completely non-viable proposition. A further complication in some firms appeared to be an orientation towards emphasizing the importance of product functionality in terms of the role of improving users' vision. As a result, the issue of the esthetics aimed at maximizing consumer appeal of the new design, sometimes became forgotten or neglected in the battle to ensure new product development schedules were not disrupted. To be able to manufacture the new design, raw materials, components, and sometimes even new machine tools will need to be acquired. A problem which can emerge is poor collaboration between the company and suppliers. Delays occur while appropriate components are sourced or designs modified to reflect the need to utilize an alternative, lower cost input. Some of these problems could be mitigated by the use of computers to link together members of the spectacle supply chain. At the time of the study, there was an unwillingness of the firms to start utilizing IT to improve inter-organizational communications. The last phase of the new product development process is the effective management of the market launch. In the spectacle industry there is a significant time lag between a product being shown to the market, distributors making a stocking decision, and goods finally being delivered. Another error which can occur in the industry is for a company not to initiate communications with the market until product manufacturing is about to commence. This will inevitably lengthen the time taken to successfully establish the new product in the market. The solution is to maintain closer links with distributors, and involve them in the new product development project much earlier. Reference De Toni, A. , & Nassimbeni, G. (2003). Small and medium district enterprises and the new product development challenge: evidence from Italian eyewear district. International Journal of Operations and Production Management, 23(5/6), 678–698. http://dx.doi.org/10.4135/9781473939004 SAGE © Ian Chaston 2010 SAGE Business Cases Page 3 of 3 Developing New Spectaclessource..
Developing New Spectacles
Developing New Spectacles
Discuss how you would overcome challenges using the principles (at least 2) discussed in the first five (5) chapters of the textbook and also identified within the case study.
The first thing I would do is invest in product positioning. Product positioning is a process that marketers call upon when they are trying to explicate the attributes of their products to their target audience. The information that marketers give out or share with their target audience has to be based on the needs of the customers. The goal of the above is to motivate customers to take action and buy the product. I believe that doing product positioning would help ensure that the Italian spectacle industry is able to compete favorably. Product positioning offers a business the opportunity to learn their target audience and to deliver products that meet their needs. There is a lot of research that goes into product positioning, and here is where the marketing team is able to learn about the specific needs of customers. For example, the idea of positioning the spectacles as fashion goods could help drive up sales. If the target group is teenagers and young adults, the spectacles could be advertised or marketed as part of trendy wear. C
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