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New Product Introduction - Case Study Example

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New Product Introduction

This has resulted in building up of largest customer base in Australia with a very high brand recall and brand loyalty in market. With this high level of growth, customer base and good cash reserve, company is looking forward for expanding its business.
With its long existence in market it has developed a very good insight of customer behavior, expected pattern of security breach and response actions. In its course of business it has to use some gadgets and infrastructure for sensing and monitoring security breaches, which are normally sourced from third party at a cost and which many a times do not meet full requirement of client.
With already existing customer base, which is having latent demand for more advanced security appliance as well as high potential new customer base, XYZ Corp has decided to have technological tie up with ABC International, the market leader in US and UK market in Security Appliance, for diversifying into the security appliance sales in Australia.
Current portfolio of services offered by XYZ Corp includes uniformed security officers and control rooms manning for office and home security, celebrity security, bodyguards and event and venue crowd controllers. Out of these, office and home security services contribute about 55 percent of its total turn over. It is providing security assessment, planning, execution of security plan and manning of control room at customer premises. Generally control rooms are provisioned at big office premises and residential societies. For individual residential units and small offices only uniformed security guide are provided.
In control rooms, CCTV views are available for security personal for all venerable areas as well as central walkie-talkies are also available for communicating with field officers. In case of any breach of security which has gone unnoticed from field officer, control room immediately communicate over walkie-talkie with them, who in turn take remedial action. This set up works cost effectively for big customers who want to secure a larger area but smaller offices and residential units still find it costlier.
As per the survey conducted by Australian Bureau of Statistics (ABS), One in twenty Households in WA was victim of Break-in. AAMI says that one in twenty Australians do not take any security measures to protect their home when they go on holidays, Almost half of Australians do not investigate or call the police when they hear a home alarm and one in five people don't warn their neighbors about thieves in the area after they've been burgled.
Further, NSW Fire Brigade says that Cooking equipment was the most common equipment reported involved in ignition; Smoke alarms were not present in 68% of residential building fires attended by the NSW Fire Brigade and 42.8% of all fires were started in the kitchen or cooking area.
Above findings suggest that Australians are either not protected or are using inadequate sensing or monitoring equipment for security.
This gap analysis, coupled with good cash reserve and large customer base, prompted XYZ Corp to go for a technological tie up with ABC International for sophisticated Home Automation System. Company will use its existing expertise for operation of central control room and its fleet of mobile security vans.

2.1 PRODUCT DESCRIPTION
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Summary

XYZ Corp is a well established player in the field of security services having experience in dealing with wide range of security services like uniformed security officers and control rooms manning for office and home security, celebrity security, bodyguards and event and venue crowd controllers…
Author : corrineroob
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