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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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