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New Product Launch
New Product Launch
Student Name
University Name
Unit Name
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Contents
Research Topic    3
Background    3
Aim    3
Scope    3
Research Methodology    4
Ethical Considerations    6
Literature Review    6
Time Schedule    12
Limitations    12
Appendix    14
Research Topic
Background
Nowadays market, well-planned as well as good product strategies are critical to helping you succeed in the marketplace. Companies around the world are more competitive than ever in order to launch new or unique products and gain strong position in entire market. Every year company launches a large number of new products. All these products do not have a competitive advantage and eventually become another high cost for company (Baker & Bourne, 2014).
Aim
The aim of this study is to launch a new product for the Company X. Company X is new company that creates innovative products for the industry. It is the mission of the company to develop new and unique products and provide customers with multiple benefits, and it is also the one main advantages. As new product launch is an ongoing process and X is continually developing its innovative product portfolio, the committee believes it is necessary to build a product launch process in a clearly defined gradual process that is smooth and easy to communicate and follow internally. The experience and knowledge gained during this work in the international business research can be used to help Company X establish this process.
Scope
The focus of this study is on the product development as well as startup process and the steps to adopt and develop a product launch method. These steps can be used as a list that a company can edit and modify anytime based on product type and company’s strategic decisions. There are various reasons why the structured product launch and startup process is required within a company. There are three reasons why it is necessary to introduce structured products. First, the structured approach allows the decision process to be fully defined, making it possible for everybody included in a team to easily understand the decisions basis and reduce the likelihood that the unsupported decisions will move forward. Second, all significant issues will be included in a product launch as these steps displayed in the list, which will as well serve as a reminder. Third, structured methods are often self-documenting because the responsible team records decisions for future reference during process execution. When training new employees, they are also good for the company because practical documents are available for educational purposes.
Research Methodology
Research method
The approach taken by this product-oriented research is qualitative research. Qualitative research is used when expectations are unknown and the re-searcher wants to define the problem and develop a method of the problem. Qualitative research examines this issue more deeply than quantitative research, and researchers can collect more detailed knowledge or information. The study focused primarily on literature review and in-depth interviews. Authors use a variety of reliable sources, such as magazines, books, online articles, and other Internet resources to create product release models. Since the end result of this paper is tangible products rather than research, theoretical commentary plays an important role in this study. After reviewing the theory and understanding the main stages of the product release process, the authors analyzed the product release process that X Company applied during the past five years. In theory, only the applicable information that applies to the company's business case is analyzed and then compared to the existing methods that X has followed so far (Beretta, Björk & Magnusson, 2017).
Data collection process
The most important single data comes from the theoretical and internal analysis of the company's existing materials. The first is an interview with management and a research and development team. The purpose of the interview was to gather detailed information about the company's cu
ent product development process and the future vision of the product release process. All internal related materials and research related to product release are subject to review. Secondly, a literature review is introduced. Literature research focuses on the entire product release process, using a phased door model that matches company's product strategy furthermore cu
ent development model (Cooper, 2009).
Data analysis
After reviewing the literature from various sources, the authors analyzed the cu
ent status of Company X. Compare existing materials such as product development plans, marketing plans, sales materials and other related documents, as well as literature recommendations. Competency research is used in conjunction with R&D and management teams to better understand how the company manages the product release process and what is expected to evolve in the near future. Based on the work experience of the company's authors, other important data is very important to the results of this article. In connection with the company X product launch, feedback received with customers, end users and sales partners during the meeting has been collected and used as the "customer voice" for the company's X product release model. All collected data were first analyzed and then co
elated with literature recommendations (Cooper, 2009). Therefore, the final recommendations are based not only on the literature review, but also on the support of partners and end users to make the results effective and reliable.
Go to the study sample, which is the process by which a participant will choose from the relevant complete demographic structure of the survey. Samples from the population are people or things that can respond to the survey. Different types of sampling methods are potential and non-probabilistic sampling methods that include further sub-methods. This particular study will use a sample approach that includes the possibility of selecting each sample unit. The non-probability depends on the choice of the sample researcher. We will use a simple random sampling method to select the study. The company's employees are involved in the research population.
For research purposes, a sample size of 100 is randomly selected from the population. The sample size indicates that the research objectives are fair enough to represent the population frame of the study.
Ethical Considerations
Researcher ensures that all ethical issues are properly observed. Respondents will be notified in advance of the purpose of the study and will be licensed prior to including them. The company from which the sample was taken will also be informed of the study and will be licensed. Researchers will follow...