MBA 1st Year Business Report Case Study 5 Questions With Answers Notes Study Material Notes Case Study Notes Questions With Answers.
Case Study 5
You, as a Marketing Manager have been entrusted with the task of conducting and prepa market research to know the market potential of a new product which your company is.’ intending to launch in the market in near future. Prepare a draft of Business Report.
Ans. Draft of a Business Report
A business report prepared through a market research to know the market potential of a new product to be launched in the market, is as follows:
1. Introduction: The report presents the challenges the industry is facing, as increase in the competitive environment are forcing shorter product lifecycles and increasing COSP evaluates the impact that these complexities have on the product development process and locus few recommendations that organisational executives should consider to reduce their time-omare and increase their return on investment for new product introductions.
2. Executive Summary : In the first phase of the report, there is the general introduction about the new product development. In the next part, we take into account the methodology used for research. As consumer product manufacturers are under increased pressure to grow revenues and improve operating efficiency, challenges in meeting growth targets include changes in consumers’, demographics, increased competition in mature markets, increased spending on services and the rise of private labels and the low success rate of new brands.
3. Methodology: The quantitative research done for this report involved an extensive and highly structured survey amount consumer product executives with new product experience. A total of 91 completed interviews were obtained, 63 conducted by mail and 28 via the Internet. While reaching and obtaining research cooperation from executive-level audiences is extremely difficult, responses from study participants were found to be very open, honest, thorough and insightful. Hence, through this review, we derived a need for our product to be launched.
MBA 1st Year Business Report Case Study 5 Questions With Answers Notes
4. Findings: We found some interesting differences between highly successful product launches and less successful ones. Highly successful product launches are much more apt to be described as exciting, creative, rewarding and proactive experiences than are their less successful counterparts. The launch activities of highly successful products were also more apt to be characterised as evolutionary, systematic and synergistic, while those of less successful products were more likely to be described as reactive, unpredictable, political and ego-involving.
Our findings suggest that there are so many elements to consider in launch planning that often times, the basics can be overlooked. The four P’s of marketing-product, price, promotion and place are shown to be critical to the success rates of products in the market. A focus on building the brand is important.
The message is clear, if there is a need of product, the product launch can support business growth initiatives, superior products/services innovation and effective cost management through the integration of product/service life cycle management activities with customers, suppliers and service providers.