The process of product development involves generating the product through a SWOT analysis, screening the product idea by considering carefully the competitors idea as well, testing the concept and finding out where the product will work best, carrying out business analytics and marketability tests to analyze progress, product development and commercialization. Most of the established and global companies have walked their products through all the processes above and enjoy the self-brand marketability that come with it. Failure in the attainment and sustainability of the above processes can result into the failure of a product generation and marketability among target audiences.
Unilever is a major global company that specializes in the production of sanitation, health and food products. One of their major global succeeding products is Omo, which is also marketed under the name Persil in some countries. Omo has been in the market as long as anyone can recall and is popular among cleaning detergents as a liquid, powder, capsules and sachet forms. With effective marketing and product development strategies, Omo has permeated across all countries and become a preferred detergent among consumers.
Costics Caffeinated Soap
Costic Incorporation came up with their unique soap with a wide range of flavors for the consumers. Additionally, it offers therapeutic benefits. A good market analysis by the company ensured that it was picked up overwhelmingly in the market.
A good market analysis by both small and established companies helps achieve product development success. For the large company, continued product sustainability and reinvention ensures it lasts longer in the market. A brilliant idea with a competitive edge for the startup companies ensure they create and maintain a rapport and sustainability of their products
Product failure results form an assumption or complete ignorance of some of the essential product development process. This results in the product being scrapped off the market or just rebranding to another name to save the situation.
In the middle of 1990 the product and service offered the Microsoft users connection to the internet through television sets. Well, the product picked up perfectly until the company could not maintain revenue streaming, with the high consumer servicing costs. Later the brand owner, Microsoft dropped it. The service and the related products did not take much care in analyzing its progress and product development process; hence the failure came upon them.
This yoghurt was a result of the decision of the magazine producer and writer, Cosmopolitan to link its magazine readers with the pleasure of enjoying drink. From the time of its release, the product took just less than 2 years to be wiped off the market completely. Due to the improper analysis of the market, the company inappropriately targeted and misjudged the market and even overpriced its products resulting into an eventual failure.
It is therefore clear that the failure of the products resulted from their lack of product sustainability as in the case of Microsofts WebTv and also total misjudging of the market by the new yoghurt company developed by Cosmopolitan
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