4. In order to launch a new electronic product which is no-existing in the market, suggest the steps to be followed from the development of your idea to the final implementation of the product?

Sunday, 9 February 2014

4. In order to launch a new electronic product which is no-existing in the market, suggest the steps to be followed from the development of your idea to the final implementation of the product?


In order to design a product which is not existing in the market, we have to consider many factors and then implement it in a sequential way.

Basically in product design , we’ve 5 different product-levels. They are:
• Core benefit                                                                    
• Generic product
• Expected product
• Augmented product
• Potential product.

Core benefit:

• The essential theme of the product.
• Represents the fundamental service of benefits.
• Derived from the consumers need.
• Decisions regarding product should begin with this stage.

Generic product:

• Second level.
• Basic version of the product.
• Typically a rudimentary product.

Expected product :

• Third level.
• Contains the set of ‘attributes & conditions’ that buyers normally expect.

Augmented product :

• Fourth level.
• Includes ‘additional services & benefits’ that distinguish company’s offering from competitors’ offering.

Potential product :

• Top level.
• Includes all the’ augmentations & transformations’ that product light undergo in the course of time.
• Attempts to satisfy all the consumers.

When such a ‘product design ‘ phase is completed, we undertake the real ‘design process’.

Design process.

The design process should consider both the users & transform their needs into a product satisfying these needs.
The design process is a step-by-step process having 6 major levels.


To know these 6 steps in detail click here

Besides all these, the designers and manufacturers should have a clear picture about the life-cycle of the product would be. Such an idea will maximize the efficiency and life of the product.

A typical plot indicating the product life-cycle is shown. It has ‘production /sales’ as y-axis & ‘time’ in the x-axis.



As seen above , the entire cycle is divided into 4 major stages.
1.Introduction.
2.Growth
3.Maturity
4.decline

Introduction

  • initial increase in production.
  • includes taking ‘patents’ for the product.
  • Establishing brand-names.
  • Pricing.
  • Trademark.
Growth

  • More quick production- increase than in the introduction phase.
  • extra features  added  to captivate customers.
  • Advertisements to improve sales.
  • More distribution channels (market places)
Maturity

  • Obtained Optimum production.
  • Add up some extra-features.
  • Reduce price.
  • Differentiate the product from the competitor’s product.
Decline

  • Maintain the product by adding new features.
  • Find new users.
  • Discontinue the product or sell it to any willing firm.

Hence by considering all these major steps, a non-existing product can find its way to the market and become a successful product.

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1 comment :

  1. Good Explanation. It was in depth so i could understand everything that i was looking for electronic product developent

    ReplyDelete