CONSTRUCT-it Equipment When Michael Williams, operations director of Antwerp-bas

Question

CONSTRUCT-it Equipment

When Michael Williams, operations director of Antwerp-based Construct-it Equipment looked at future prospects for his business, he didn’t like what he saw. The company’s main revenue came from hiring out pneumatic hammers to the construction industry. But, in the next few years, these hammers will be phased out when new noise and environment regulations come into effect in Belgium.

Michael Williams decides to take the initiative by developing a new environmentally friendly hammer which makes less noise.

1. write an essay to advise Michael Williams on how he should manage the new product development process.

Explanation / Answer

Every product has its life cycle just like humans. After age of amturity it starts declining and may lead to death but death can be prevented by rejuvinating the product with new featires, modifications, adaptation to changes in environment etc. henc ecreating a new ife for the old yet adapted/changed product again starting from birth to further stages of life.

Similar to what is written above, Michael williams thought to rejuvinate the old product, hammers by molding it nito new enviornment friendly less noisy hammers.

This development of this new product has to undertakes various steps and has to counter various challenges. The followings are the steps that need to considered for having successful development of the new product - less noisy, enovironmental friendly hammer -

1) Idea generation and evaluation - this stage involves generating the idea for new product. It has already been decided by Williams. However he should not be quick in orede to pick up with this new project. Before new idea generation it is require to have brainstorming sessions with experts, managers and other talent of the organization. Willian should discuss this idea of creating the new product in a meetiing aith all repsonsible and senior managers (technical, production, sales, environemnatl analyst, legal managers) to discuss whether this idea could be beaten up with any other idea of any other adaptation or any other strategy or they should continue with this idea of creating environemnta friendly less noisy hammers.

2) Concept definition- If this idea of creating new hammer is being brough to further process then later stage would be to test for technical feasibilty, product design and market potential. Technically is it possible, if yes then would it be cost efficeint, does company can acquire new techniques covenientky and cost effectively, how the hammer wil be designed what would be the specification like it can have automatic processing of hammering with a sheet beneath to reduce noise. It could e made of things sustainable in use and it could be reculce as well. All these specification consderations should be amde here. Market potential should be analyzed. It should be studied whether in future will there be demand for hammer actually be it of any type, or would there be other alyternatives convenient to use as substitute for hammer. will it be easy to persuade customers for new hammers by winning thei trust. All current customers like the idea.

3) Stratgey analysis - this is setting the hwole project into the framweork of our business. It would be first identified whether this new concept meet our objective, vision and stratgey. For example if the competitive edge of our company is to give quality and the new hammer has less quality it is not in parity with our competitive advantage.. Weather the company has enough fund for this investment will it be fruitful to acquire new funds to undertake this project.

4) Product development and testing - it involves creating the prototype of the new hammer. Here physically the product should be produced and should be test for all parameters like is it less nosiy, is it enviornment freindly, does it hammer sproperly like a traditional one, has it quality.

5) Market testing - after having a successful product development and testing, market should be test also. The hammer should be rectify according to distributor, customer and other relevant interested party's feedback. Like on basis of a customer its design could be change to have more convenience in operation.

6) Commercialization and product launch will be the last thing to do- here the price of the hammer wil be decided. It would be benficial to decide the price of the hammer on basis of value based pricing. here marketing plans shoyld be finalized involving decdinig how distribution should be done, it would be feasible to distribute to customers directly to have less cost involved and to reduce the price. marketing channels like local advertising to specific market channels, personnel promotion shoudl be use to promote.

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