Portakabin case study 4/4/2013 Xingyi ZHANG 1. Describe the different techniques that organizations might use in order to develop new product ideas. ? Market research, the systematic process of collecting and analyzing primary and secondary data about customers and their relationship with products and brands. ? Research and development, the process of convincing, developing and testing possible new products. ? ? Monitoring the actions of competitors. You can get inspirations from your rivals. Identifying a gap in the market, which is a place within a market where nobody has sold before.
Market research and further segmentation of markets helps to identify new groups of customers. ? ? Direct feedback from customers. Technological developments. Using latest technology to make R&D process better. 2. Explain the alternative marketing strategies that an organization could undertake in order to develop business opportunities. ? Market research, the systematic process of collecting and analyzing primary and secondary data about customers and their relationship with products and brands. Market is where demand and supply meet and it’s also where business exists.
So knowing the market better can bring the company more chance to make more profits. ? Providing a variety of benefits beyond the basic needs of customers. Serving the total product more effectively through more add value. ? Based on Ansoff’s matrix, four alternative marketing strategies are suggested. They are market penetration, product development, market development and diversification. a) Market penetration. This can be chosen when a company wants to sell established products in established market. b) Product development. This involves developing new products for existing market. ) Market development. This strategy entails finding new markets for existing products. d) Diversification. This involves moving new products into new markets at the same time. ? Technological developments. The using of up- to-dated technic helps to increase efficiency and the quality of goods and services. ? Feedback from customers and accessing the overall customer proposition. The better you know about your customers, the better you can service them, so the customer satisfaction will be higher, which means more business opportunity. . Analysis the benefits that a customer gains from an organization that adopts a total product approach to their marketing of goods and services. ? Effectiveness and efficiency. A total product approach provides a one-stop-shop to meet all kinds of needs. This means that customers no longer had to source additional services from other suppliers, which means there will be no additional cost or time outlay. ? Getting better goods and services and higher satisfaction than they have expected.
Total product approach not only meets the needs of customers but also dig their desires and create wants, so it can bring customers the satisfaction out of their imagination. 4. Evaluate how a total product approach to an organization’s marketing strategy enables it to develop products that meet customer needs more effectively. ? Adding value for each customer. Not simply meet the customers’ basic needs, but also provide a variety of benefits beyond that. ? Creating wants and demands. Through providing more and better goods and services, the customer will eventually find new needs and wants.
For example, actually many people don’t need an iPhone but they just buy what other people have. ? Extending the provision within the existing market or even finding a gap in the market. For example the Portakabin not only provide a building shell, they also provide a range of service that complimented the building and produced “ready to go”working environments. So they now have extra services like air conditioning. ? One-stop-shop. This means that customers no longer had to source additional services from other suppliers, which means there will be no additional cost or time outlay.