Photo Drive
Testing and Market Research
The Photo Drive Plus should be tested prior to launch, to ensure that the product is commercially viable. To fail to perform market testing would be taking a significant risk, given the amount of money that it takes to produce the product and execute the launch strategy. There are several different approaches to market testing. One is to make a prototype and test that with members of the target audience, another is to visit trade shows, and another is to simply compare the product to others on the market (No author, 2012).
Comparing the product to others on the market is not a viable strategy when there are no direct existing competitors against which to benchmark. The Photo Drive Plus is a unique product, and while that can help it in the market, this also makes it more difficult for the company to determine whether or not the product is truly viable. Additional testing is going to be required. A trade show is an interesting idea, but for a new company there is significant risk that if the idea is good, all potential competitors will know about the product and move with their own versions quickly. Building first mover advantage is going to be critical to the success of the Photo Drive, and any strategy that reduces this advantage should be avoided.
Thus, the best strategy for testing the Photo Drive is to create a prototype and test it with a small group of target market members. This group can be quite small and local, but it should include both vendors who would sell the product and end users who would buy the product. This is because both groups are going to be involved in the process of making this product successful, and because these groups will be able to give different types of...
Growing Market Share at Olympus When you can buy a Barbie doll that doubles as a video camera, I think that it's official that anything can be a camera. -- Jason Griffey, 2012 The heyday of amateur single lens reflex cameras and developable film has passed, replaced by increasingly sophisticated cameras in all types of handheld wireless devices, especially smartphones. Some camera manufacturers have responded to these trends in different ways,
MARKET ANALYSIS & PRODUCT INNOVATION Market Analysis and Product Innovation: Facebook Inc. In an increasingly competitive environment, business organizations must remain innovative. They must deliver offerings that resonate with the ever changing needs of the consumer and the operating environment (Akbar & Tzokas, 2013). This often calls for product innovation, which has been marked as a crucial driver of competitive advantage in the contemporary marketplace (Song & Chen, 2014). Nonetheless, product innovation
66). Furthermore, social software will only increase in importance in helping organizations maintain and manage their domains of knowledge and information. When networks are enabled and flourish, their value to all users and to the organization increases as well. That increase in value is typically nonlinear, where some additions yield more than proportionate values to the organization (McCluskey and Korobow, 2009). Some of the key characteristics of social software applications
Wireless Broadband Technology Overview of Wireless technology Presently it is quite evident to come across functioning of a sort of wireless technology in the form of mobile phone, a Palm pilot, a smart phone etc. With the inception of fast connectivity in the sphere of commerce it is customary and useful to operate from central locations communicating with the remote branches, conducting conferences in remote places, discussing with every body at every
Kodak decided to implement this initiative after conducting market research on the costs of printing at home. According to a study by InfoTrends, the greatest obstacle to printing at home is the cost of ink and supplies (Kodak, 2007). Another printer from the new line, the Kodak EasyShare 5300 offers a 3-inch color LCD display that enables photo viewing and cropping directly from the printer, with a memory card slot
Project Management: Case Study in Managing a Complex Shipyard Project in Singapore Background of Complex Shipyard Construction Project Company background Project Overview and Objective Work Process of Building Construction Issue Analysis in Shipyard Construction Project Management Literature Review of Project Management Issues in Scope Management Methodology of Scope Management Lessons Learned from Scope Management Issues in Cost Management Methodology of Cost Management Lessons Learned from Cost Management Issues in Human Resources Methodology of HR Management Lessons Learned from Human Resource Management Case Study in Managing a
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now