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Essay Available:
Pages:
11 pages/≈3025 words
Sources:
20 Sources
Style:
Harvard
Subject:
Business & Marketing
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 53.46
Topic:

Product Innovation, Launch And Marketing

Essay Instructions:

Focus on a new (hi-tech or non-hi-tech) product already developed but not yet marketed by a company. Demonstrate how you are going to market this product in the most effective manner.
advice on assignment:
Focus on the launch strategy
The launch strategy must be presented mainly from the product and innovation management perspective
You can choose a product that was launched in Country A but not yet launched in Country B which you have chosen for your assignment. If this is the case, it is your responsibility to prove or nearly prove that there is no spill-over of the product and its related information from Country A to Country B
Important points you should note:
1. This assignment is individual-based, and contributes to 100% of the total mark for the module.
2. Maximum number of words: 3,000 excluding references and appendices (if there are any). Write down the number of words on the front page of the assignment.
3. Leave aside 500 to 800 words elaborating the main academic theories / concepts (at least one, at most two) that you are using for this assignment.
4. Each assignment will be assessed based on (1) the appropriateness and completeness of the academic perspectives you have used; (2) the ability to apply academic knowledge to practice; (3) the amount of effort you have put; (4) the soundness of your arguments; (5) the organisation of your work.
Academic perspectives:
Lectures/lecture handouts/textbook
Journals, such as:
Creativity and Innovation Management
European Journal of Innovation Management
International Journal of Innovation Management
Journal of Product Innovation Management
Technovation
Reading list
Key textbook
Crawford, C. Merle and Anthony Di Benedetto (2014) New Products Management, 11th edition, Boston: McGraw-Hill.
Other important textbooks
Lehmann and Winer (2004) Product Management, McGraw-Hill.
Trott (2011) Innovation Management and New Product Development, 5th edition, Financial Time Prentice Hall.
Other supplementary textbooks
Barabba, Vincent and Gerald Zaltman (1991) Hearing the voice of the market: competitive advantage through creative use of market information, Boston: Harvard Business School Press.
Bruner II, Grodon C. and Kumar, Anand (2005) Explaining consumer acceptance of handheld Internet devices, Journal of Business Research, Vol.58, p.553-558.
Cooper, Robert G. (2001) Winning at New Products, Cambridge, Massachusetts: Perseus.
Fleming, Michael C. and Joseph G. Nellis (1994) Principles of Applied Statistics, London: International Thomson Business Press.
Hisrich, Robert D. and Michael P. Peters (1984) Marketing Decisions for New and Mature Products: Planning, Development and Control, Columbus of Ohio: Charles E. Merrill.
Kennedy, Peter (1998) A Guide to Econometrics, Malden, Massachusetts: Blackwell.
Kress, G. and John Snyder (1994) Forecasting and Market Analysis Techniques, Westport, Connecticut: Greenwood.
Lilien, Gary L. and Arvind Rangaswamy (1997) Marketing Engineering – Computer-assisted Marketing Analysis and Planning, Reading of Massachusetts: Addison-Wesley.
Makridakis, S., S.C. Wheelwright and V.E. McGee (1997) Forecasting: Methods and Applications, New York: John Wiley.
Rogers, Everett M. (1995) Diffusion of Innovations, 4th edition, London & New York: Free Press.
Shiu, Eric (Ed.) (2014) Creativity Research: An Inter-Disciplinary and Multi-Disciplinary Research Handbook, Routledge.
Tidd, Joe, John Bessant and Keith Pavitt (2005) Managing Innovation: Integrating Technological, Market and Organisational Change, 3rd edition, Chichester: John Wiley & Sons.
Urban, Glen L. and John R. Hauser (1993) Design and Marketing of New Products (2nd edition), Englewood Cliffs of New Jersey: Prentice Hall.

Essay Sample Content Preview:
PRODUCT INNOVATION, LAUNCH AND MARKETING Name: Course: Tutor: Institution: Location: Date: PRODUCT INNOVATION, LAUNCH AND MARKETING For a significant period of time now, product innovation and development of new products have been relevant topics in the fields of business administration and marketing. Innovation and new product development is viewed by scholars as a fundamental process of research and management that is aimed at relevant results of financial success and popularity of the product in subject. Therefore, when a company introduces a new product in to its market, it is its responsibility to devise ways of managing the product’s innovation, select reliable launch strategies of the product in different locations of demand and the best forms of marketing the product by providing its background, financial and performance information to the people. In this paper, SafeHom Company has an aim of introducing a high technology home security system called Guarant Secure in a country in Africa, called Malawi. The accumulative literature review on the topic of innovation management and new product development, and on the product under review, proves the hypothesis that although it might be significantly expensive for a company, the innovation and marketing strategies are the most important stages that guarantee the success of any product in the market. Theories of New Product Development. This part of the paper discusses the main concepts of new product development that will apply in innovating, launching and marketing the product. The first concept deals with the innovation of the product. In this context, this theory is used to explain the innovation process of the product during the early stages termed as the idea generation stage. Other additional definitions in this stage include idea screening, development of concept and concept testing (Trott, 2011). In detail, this stage represents the creation and development of the initial idea that triggered the interest to make Guarant home security camera and its other related products before the actual making of its physical form. This is the point that SafeHom creates an abstract of the funding process and the total cost of the product. This stage is hugely theoretical as it entails thorough research on the nature of the product, an analysis on the type and the approximate number of people or audience that would find the product useful and worth buying. Basically, in this stage, the company is concerned with the type of our product, the changes that have occurred in the field of home security system ever since the last invention and the improvements that should be made on the current model to attract more customers (Trott, 2011). The second theory denotes and explains step-by-step processes of new product development that the company will use to make the actual product. This concept visually represents the activities using a number of models that capture the exact activities that the company will use to fulfil the actual innovation, development and marketing of Guarant Secure. Although the previous versions of the same model cover numerous other numbers of stages of product development, dynamics have proved that this eight-stage model is the standard one covering the exact stage...
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