Steps in Introducing a New Product in the Market Case Study

Steps in Introducing a New Product in the Market - Case Study Example This particular case was assigned to illustrate the notion that the success of a new product in the market mainly depends on the company’s ability to uphold customer demands as well as interests. In order to carry out successful research about product development, a four-step process can be adopted. The first step is idea generation which is followed by concept screening which is related to conducting surveys about the purchasing behaviour of the targeted people. The third step is related to product development and testing and this can be done through focus groups. The fourth stage is the quantification of the volume where the company estimates the likely sales volumes of the new product being introduced into the market. The other issue why the case study was assigned is related to the fact that the success of a new product in the market depends on measures that are put to satisfy unmet demand. The other issue is that a company should not be complacent after introducing a successful brand in the market. The company ought to be innovative so as to be in a position to keep pace with the constantly changing consumer trends. This helps the organization to stay ahead of the other rival competitors who may also offer the same products in this particular market. This entails that the company that has launched a new product should continue carrying out market research so as to be able to gather information about the interests of the consumers. The major challenge of launching a new product in a competitive market is that it may be difficult for the company to project realistic sales volumes that can sustain its operations. Over and above, it can be observed that a holistic approach should be taken when a company intends to launch a new product into the market. It is imperative for the organization to carry thorough market research so as to be in a position to satisfy the interests of the customers.

A Quantitative Analysis Essay Example | Topics and Well Written Essays - 1000 words

A Quantitative Analysis - Essay Example In addition, it also markets products meant for kids, and even other athletic and recreational uses, such as baseball, cricket, lacrosse, outdoor activities, tennis, volleyball, walking, and wrestling. To add on, it sells sports clothing and accessories. Lastly, it sells a series of performance equipment, including bags, socks, sports balls, eyewear, timepieces, digital devices, bats, gloves and other protective equipment (Miller, 1992). The sources of market for the company include various strategic stores for the already mentioned activities. However, there exist other retail accounts through the enterprise owned retail stores and Websites of the Internet, who are very direct to consumers (Ramaswamy, 2008). It is comparatively important to mention that the Nike company was formed in 1964 and that the headquarter in Beaverton, Oregon. This report gives the most recent quantitative analysis and goes further to explain the various financial analysis that puts the company ahead in terms of its performance. The investigation has shown that financial results for its fiscal 2015 quarter two ended on November 30, 2014. The quarter results demonstrate that the company is on the growing side and that the power of the portfolio is what unlocks the growth (Parker, 2015). Net working capital involves the discrepancy between the current assets and current liabilities. Examples of current assets are cash and inventories. This can be in the resources this company has not forgetting accounts receivable not yet seen in money form. It is always used to determine the net worth. However, the calculation also involves the current liabilities the company has. It is not the case of Nike Company that has more assets compared to liabilities. In totality as an analyst, in order to make networking capital run smoothly the management structure should be well established so as to know when to lend or buy for the Company success. Based on the financial records below, it clearly depicts