Answer to Question #201940 in Management for Karabo

Question

A) Your organisation wants to broaden its products portfolio by introducing a new product. In order to achieve that, you have requested your cross-functional team to evaluate and oversee the procedures to ensure the new product is effectively developed. 

In view of the presented case, provide a practical elaboration of how the following process will be carried out to develop your new product: (30 marks):

• Sharing of technology between buyer and supplier companies. (5 marks)

Answer 1

1. Meeting users’ needs

2. Know your competition

3. Make a prototype and test it

4. Reconfigure your product

5. Run the numbers

6. Build anticipation by pre-marketing

7. Build a solid supply chain

8. Network and share your product

9. Reach out to the press post-launch

10. Consider public feedback post-launch