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New Product Development and Managing Innovation
June 2022 Examination
Q1. Dabur India Ltd is one of the largest FMCG companies in India. It is also World’s largest Ayurvedic and Natural Hair Care Company. Dabur today operates in key consumer product categories like Hair Care, Oral Care, Health Care, Skin Care, Home Care and Foods. The coronavirus pandemic has brought a change in demand dynamics with consumers increasingly seeking Ayurvedic products that build immunity.
You are the Product Development Manager and have been given a target of introducing at least 30 new products across their different product categories in the next one year. Identify different ways you shall consider introducing new products (Hint: Give some examples of the type of products you would like to consider from the product categories). Also, since the time period is short what type of “product development” model you shall use and why? (Hint: Compare some common product development models studied in the class and explain the benefit of the one that you will choose) (10 Marks)
Answer 1.
Introduction
Marketers may look into new possibilities by developing unique services and items. Once established items cannot speed development, an organization desires to produce a service or product to expand its market, expand income, and generate significant profits. A nicely-planned producing manner optimizes organization manufacturing operations. Amongst a number of the factors to recollect seem to be the integrity of company products, the constancy of their companies, the competencies of business staff, and what sort of stuff business plant or place of job could produce in such a specific time frame. Concerning small companies, the overall product design, and improvement
Q2. You and your friend have worked on the idea of a unique two-wheeler that runs on electricity. This can be mainly used for B2B purpose by all the delivery companies like Swiggy, Zomato, Tata 100mg and other Online E-commerce platforms. The potential for the product is huge, however, you need to be very sure of the Product Performance before you approach the VC for funding for commercial scale manufacturing. To ensure that the actual product meets the predefined quality standards, you need to do testing at various stages of NPD. Explain all the different types of testing you will be doing during the different stages of NPD of your product. What shall be your final step before
you approach VC to fund the project. (10 Marks)
Answer 2.
Introduction
Product design does not cease every time a business releases the primary-ever item. It’s occasionally vital to upgrade contemporary products or perhaps amplify the product variety. Product design is performed regularly in expanding businesses. Growing an idea and turning that right into a feasible, marketable item or brand isn’t an easy undertaking. Customers need to be inventive at the same time as additionally
Q3. In the last 3-4 years, with easy and cheap access of internet, there has been significant rise in various OTT platforms, which got accentuated due to the pandemic in 2020 – 2021. This has affected the DTH market significantly especially in the Tier 1 cities in India.
a. Considering the concept of Product Life Cycle, where would you put the DTH/Television sector in their lifecycle? Explain each phase of the lifecycle and justify your answer with examples. (5 Marks)
Answer 3a.
Introduction
Product life cycle planning is the process of planning strategies to preserve a sustainable commodity constantly. The phrase product existence cycle represents the length of existence while a commodity is being offered to customers and when this is pulled from this marketplace. The product’s life span is split into four sections: “introduction, growth, maturity, in the end, decline”. Marketing and operations
b. Giving examples, explain how some of the Television network companies are evolving by new product development and attracting more consumers than ever before. (5 Marks)
Answer 3b.
Introduction
Despite extensive technological innovation required to carry analog looking into most people, TV became visible as a curiosity. Reputation remained slow because television was where customers’ favorite packages had been usually broadcast. This idea did not take off until after the mid-1960s when many radio transmissions converted to TV programs. Fundamental brands are increasingly diverting their advertising revenue from radio and more in the direction of TV to increase the people with such a selected plan or
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