Coca-Cola – Product Development
This project sets explore the wireless technology growth and its impact on the growth on the economy of two of the world’s major economies: The United States of America, and the United Kingdom. The research will concentrate on the features of the high selling mobile phone companies in the UK by setting up two questionnaires, one for the consumer and the other for the manufacturer. The thoughts of retailers (as a proxy for mobile phone developers) are compared to those of general consumers to see whether the consumers appreciate similar devices and have the same appetite for new functions as the retailers predict.
While technological advances have improved features and services, it ...
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...has analogically increased the misuse of this system for criminal benefits as well. To consider the potential damaging effect of wireless technology on the economy the questionnaire asks for the opinion of individuals and retailers of the dangers of malware and its awareness. The limitations of the research does not restrict the additions or reduction of inputs based on the ever changing market situation due to a sharp shift in mobile technology, or more likely to the availability of respondents to the questionnaire.
A representative sample of consumers is necessary, however if it is difficult to find sufficient retailers, a number of industry representatives are potentially available such as mobile designers or developers or others with a leading role in the wireless technology industry. The research seeks to provide an insight in to the way wireless technology changes over time and the possible growth potential, considering that the inclusion of new features require acceptability and in turn generate high volume of sales to have any sort of impact on the economy. There are three aspects that require serious post-mortem here:
Development of business Possible employment opportunities from this Product development involves a lot of planning. There is no point in developing a product that may be highly technical, if there are no market for them or if the present market standing and reputation becomes obsolete in the near future. If true customer satisfaction is the company prerogative, hen there must be a serious debate on whether the company can and will invest in technological product development In order to do so, the first and foremost objective would be to analyse the organisational capability and resource availability to match customer demands.
The organisational heads need to address the following issues before proceeding with product development: Understand the perceived strengths and weaknesses of the product in question Weigh the customer’s options on why they will buy, or won’t buy Assess the ability to produce and develop these products over a long period of time, keeping in mind the customer’s needs and demands Factors that can hamper future production An organization must place its customers before self.
It is therefore desirable to view the product in the context of what customers value rather than the organisation. A reason why many reputed organisations falling by the wayside is due to their ineptness in ignoring customer needs, and engages in image changes to glamorise themselves and their products. In the cause of the customer, it is necessary to examine in detail, the nature of product(s) and activities of competitors (Richard Pettinger, p. 215-217, 2004). Algeiser Software Pvt. Ltd. is a company of national repute.
Despite its size, the company has been able to grow steadily in a highly competitive market. The list of growing clientele is testimony of its product reliability and user friendliness. With the advent of foreign companies into the Indian market, Algeiser finds itself fighting a new kind of competition, a global brand and ample financial resources to attract the best talent in the country. This has brought worries to many smaller organisations, who risk losing their brain to lucrative financial offers.
This is why Malhotra has been entrusted the job of seeking alternative means to fight for market presence in the country as well as abroad. Malhotra is faced with the situation of rethinking his marketing and development operatives. In order to do so, Malhotra had to answer some strong queries. His company now had to fight for international recognition first, quality was a prerogative, backup was deemed a necessity, and lots of money to finance R&D, the only way to stay in front. This led him to debate on the possible solution to this problem.
With the advent of the big players, Algeiser had no other option than to go in for co-production, involving a foreign participant. Certain points that had to be addressed were: Markets had to be created to sell the new product Product is market-led; the organisation identifies gaps in market, and produces in anticipation of filling gaps A customer’s relationship with an organization is built on trust and reliability. A customer’s relationship strategy fundamentally reshapes the thought process of an organization to build a strong customer base.
Focusing on people, business processes, performance management systems and technologies are sure ways to satisfying customer needs. With an effective Customer Relationship Strategy, an organization can: Identify, acquire, retain and develop more profitable customers Align the business, marketing, and sales strategies with customer care Achieve a customer centric organization with a clear contact management strategy (Hitachi Consulting, 1994). No product or company can survive competition or sustain its identity without asserting itself on two basic components in marketing: Image, and people.
If not managed properly, these components can break a brand. Brands and people have to be owned, nurtured and developed by an organization. They are the ultimate differentiators and value creators. Companies such as Pepsi, Coca cola, Levis, and Cadburys are a few examples of well managed brand companies, whereas Enron and Anderson are the adversaries. So powerful is this medium, that unless harnessed properly, sustainability, popularity, and growth are at risk.