Case Study Analysis (REPORT)

It would also examine the role of marketing communications towards generating competitive advantage for business organizations and development of trust and confidence among the customers so as to generate long term profitability and sustainability in the business market. Table of Contents Case Study Analysis (REPORT) 1 Executive Summary 2 Introduction 4 Part 1 4 New Product Development Process 4 Idea Generation 5 Idea Screening 5 Concept Development and Testing 5 Analysis of Business 6 Development of Product 6 Market Testing 6 Product Commercialisation 7 Product Life Cycle 7 BCG Matrix 8 Part 2 9 Marketing Communications Mix- Comparative Analysis 9 References 13 Introduction Business organizations are essentially operating in a turbulent business environment. The aspect of globalisation has increased the average number of players in the market which has intensified the competition among the business organizations. This has intensified the need for ensuring business excellence that leads to creation of competitive advantage. … using a different strategy which includes improvements in the product or service mix as well as use of a marketing communications strategy that helps firms to communicate and reach out to their target audience. The heightened levels of competition in the markets has also enhanced the importance of brand image that is largely important as it is widely being used by consumers to differentiate between the products and service offered by the different players in the market. The present study would analyse the aspect of new product development by including a comparative analysis of different brands. Part 1 New Product Development Process New product development is a comprehensive process that encompasses the aspects of idea generation, idea screening, concept development and testing, analysis of business, development of product, testing the market and finally product commercialisation (Havaldar, 2010, p.188). Idea Generation Idea generation involves conceptualisation of new ideas for a product or service. The success of this stage largely involves garnering large number of executable ideas which can be either obtained from employees or from any other source. The idea must be such that it is largely unique in nature and has the ability to make a mark for itself in the market. In case of Denkit the teachers had two business ideas which were largely unique and innovative in nature as no such product was available in the market. In case of Hovis the company developed an idea that served to augment the present product offering of the organization by introducing new ideas for product development. Kit Kat’s new product development ideas mainly include the aspect of modifications in packaging and design. Idea Screening The next stage in the new product development includes idea

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