This report, which is a part of the Marketing Module of the course curriculum, aims to bring out the learning of the students with respect to new product development process. It includes both primary and secondary research data analysis and decides upon the viability of the new…
For the primary data gathering and analysis, a questionnaire was designed and survey conducted. The data gathered from the survey was then analysed. From the analysis it was derived that a mobile phone which includes computing as well and is priced low is the need of the hour, mainly for foreign nationals residing in Australia.
To further strengthen this conclusion, industry/ competitor’s analysis and PESTL was also done. The above mentioned analysis also yielded favourable results. The next step was to work on the SWOT of the organization and decide the marketing mix. It is found that organization is strong in technology and pricing but suffers from the lack of a brand image as of now. To overcome this brand positioning was also decided.
Main challenge that confronted the students, while preparing this report, was during the primary research phase. Seeking cooperation, from what constituted the sample, and urging them to give correct answers to the questions was time intensive exercise. Nevertheless, it definitely enabled the students to realize the hard ground realities. It gave a feel of what real marketing is like and was definitely an enjoyable experience inspite of all the hardships.
After going through the process of new product conceptualization and development, it is realized that launching a multi technology device (MTD) for foreign nationals residing in Australia would be profitable venture. MTD is a combination of mobile phone and computing technologies. As per the forecast on the basis of past trends in the Australian telecom industry at least 35% international students, 30% households and atleast 10% of the 18-65 age bracket people would purchase the MTD.
Since SWOT, PESTL, primary research and secondary research all point to the viability of the project, it is recommended to go ahead with the new product concept of launching the mobile phone based on the research undertaken by the students.
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