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New Product development - Essay Example

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The company has an expanded objective that would oversee that the operations are in line with the realized objectives. A business analysis shows that the company has an upper hand in terms…

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New Product development

The market industry is indicated by a well-documented five forces analysis that well states the position of the company. The marketing development is described by the marketing mix policies that define the segmentation of the car. This leads to the required launch of the car in the effective UK and EU market.
Solectrica car is a new brand of cars from Pessan Motors Ltd. This is a car that develops sufficient use of energy as different governments strive to reduce the rates of pollution to the environment. Industrialized countries have increasingly polluted the environment and with time, there is bound to be less sustainability to the environmental issues that are coming up (Fırat, 2013). There has therefore been a constant call to shift to energy saving machines especially the machines that are continuously done. Factual information shows that a single car generates half a ton of carbon dioxide within a very short time span. It is also estimated that there are 500 million cars in the world. The number is bound to double to more than a billion by 2030. This also means double pollution. There is rampant knowledge about use of environmentally friendly cars in the UK and therefore sensitization about the need to generate this type of car to capture this rapidly growing market.
Solectrica cars are supposed to aim for this high reduction and there is even hope that some governments will effectively create regulations that will reduce manufacture of cars that are either using solar power or electric energy. This is the prime concept behind development of the Solectrica car that will utilize use of electricity and solar charging and avoid use of fuel that pollutes the environment.
This paper seeks to develop a comprehensive review of this product development in the UK market. In view of the same, the paper will cover a collection of issues. It will generate a recommendation for the need to have such a car in the market ...
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