Launch Of New Products Research Articles

MARKETING DE NOVO PRODUTO - INOVAÇÃO PARA O PÚBLICO ACADÊMICO, UM ESTUDO DE CASO

The launching of new products on the market is a usual practice for some companies, being actions that guarantee their permanence and the creation of competitive values. The present work aims to present a case study of a company launching a distance education course for teacher education and training with a view to marketing planning. With methodology based on observation, bibliographic research in articles and books, document analysis and context analysis, linked to qualitative research. Thus, the viability of critical data collection for marketing planning is perceived. From the data, it is possible to extract scientific information from the actions taken showing the entire project and development of this innovative product, as well as the tactical and strategic planning for decision making. This work is orientative and serves as an instrument for entrepreneurs and academics in the development of new products and new research, respectively.

A STUDY ON THE REGIONAL MARKET POSITIONING OF BZ RESTAURANT CHAIN COMPANIES: A CASE STUDY OF CHENGDU

BZ Catering Chain Company is a large catering service company that operates authentic Sichuan hotpot. Its headquarters are located in Chengdu. The company’s Dalongyi Hot Pot launched its legendary journey in Yulin, Chengdu in 2013. This paper primarily examines the regional market positioning of BZ Catering Chain Company in the Chengdu market, as well as the upcoming launches of new products. This paper concentrates on the various aspects that BZ Catering Chain Company should take into account, ranging from conducting market research to determining its regional market positioning, and exploring strategies to increase consumer preference for the company's products. Furthermore, it examines the factors that will affect consumers' willingness to buy. This paper examines the BZ restaurant chain's product positioning from the perspective of consumer purchasing behavior. Based on a combination of empirical analysis and marketing environment analysis, BZ Catering Chain Company should position its products mid-to-high-end, focus on product quality, and use price competition as a marketing tool at specific times and in specific regions. After securing initial profits, it should leverage the advantages of high quality and low price to quickly penetrate the market.

Forecasting Customer Actions: Exploring Machine Learning Techniques for Behavior Analysis and Prediction

Modern modelling of today’s consumer behaviour is highly dependent on data mining which mines customers’ data in order to answer specific questions in time. This complexity and uncertainty relating to the consumer be-haviour makes it difficult for us to predict. Therefore, selection of appropri-ate methods is very important. Predictive models can be designed so as to identify specific group or individual actions and thus making them useful marketing tools. However, many models are overly simplistic for they leave out some of the essential factors hence leading to inaccurate forecasting out-comes. Consequently, instead of concentrating on customer behaviour-firm capital structure relationships only a strong association rule mining model should be created using online store data that effectively estimates customer response. Knowing their business clients is crucial when it comes to profitability by aligning the company’s earnings with their concerns. Artificial intelligence (AI) optimizes product location by clustering techniques targeting the right customers. It examines customer behaviour and buying trends utilizing Kaggle’s client membership card records such as Customer ID, age, gender, annual income, spending score among others. This includes basic market analytics based on demographic information like age or income split into groups, however big data superiority over traditional methods cannot be underestimated including machine learning applications such as Customer Seg-mentation Automated Methodology (CSAM), k-means clustering for user segmentation among others. This approach facilitates focused advertising campaigns and development and launch of new products aimed at particular consumer sections.

Research on Moutai Cross-border Product Marketing Optimization Strategies: Taking Moutai Ice Cream as an Example

Purpose - On May 19, 2022, Moutai and Mengniu reached a strategic cooperation, announced the opening of the country’s first Moutai ice cream flagship store, and launched Moutai ice cream in various flavors including original, vanilla and other flavors, achieving growth against the trend. Moutai has entered the high-end ice cream market by engaging in strategic collaborations with Mengniu. However, in the marketing process, since Moutai ice cream is not a traditional alcoholic product, Moutai needs to explore new marketing methods. Design/Methodology/Approach - This article utilizes the 4P theory as a framework to elucidate the present status of Moutai ice cream products, encompassing pricing, distribution channels, and promotional strategies. Secondly, it highlights the issues and underlying reasons in the marketing of the Moutai ice cream brand. Finally, specific countermeasures and suggestions were proposed regarding brand value, brand culture, cross-border channels, and communication methods. Findings - Summarizes the existing problems such as product cross-border impact on brand value, the launch of new products that fails to continue the image of Moutai, the limitations of radiating target consumer groups, and the lack of interaction between Moutai ice cream and consumers, etc., and puts forward specific issues. Countermeasure suggestions. Research Implications - The research in this article has enhanced the cross-border marketing capabilities of Moutai ice cream, which is significant for improving the sales level and brand influence of Moutai ice cream. It also provides reference and guidance for other companies in the industry regarding their brand’s cross-border strategies.

Direct and indirect effects of degree of interdisciplinarity on firms' innovation performance: The moderating role of firms' capabilities

AbstractCombinations of heterogeneous knowledge from different scientific domains may drive highly innovative outcomes. Our study investigates whether firms can benefit from interdisciplinary research and development (R&D) activities by also reflecting on the potential negative consequences of increasing complexity of outcome validation activities at later stages of innovation processes. We explore which resources and organizational capabilities may influence the efficacy of interdisciplinary R&D activities. We examine whether the available financial slack, collaborations with universities, and a high betweenness centrality in scientific networks may promote the flexibility, scope, and efficiency of knowledge integration, and thus moderate the direct and mediated relationships between the degree of interdisciplinarity (DoI) of a firm's R&D activities and innovation performance. To test our hypotheses, we performed an analysis of medical technology firms that are highly dependent on interdisciplinary R&D. We collected a panel dataset of R&D activities and successful market launches of new products from 79 large medical technology firms between 1997 and 2021. The measurement of a firm's DoI is based on a novel approach involving neural networks in a bibliographic data graph. Our results suggest that firms can improve their innovation performance if they conduct interdisciplinary R&D activities. However, higher levels of DoI also increase the complexity of the required outcome validation, which reduces a firm's innovation performance. We also found that high levels of financial slack help to overcome barriers of implementing interdisciplinary R&D activities. Collaborations with universities, and good access to knowledge in scientific networks, further foster interdisciplinary knowledge application in new product development.

Using Novel Multimethod Evaluation Approaches to Understand Complex Food System Interventions: Insights from a Supply Chain Intervention Intended to Improve Nutrition

BackgroundA “food system” approach to improve diet quality by intervening within areas such as food supply chains is gaining prominence. However, evidence of such interventions’ impact, and understanding of appropriate methods to evaluate them, is lacking. ObjectivesWe present an impact evaluation of an intervention that aimed to increase consumption of nutritious foods by supporting food-producing firms in Kenya. In doing so, we demonstrate how multiple methods, including those from other disciplines, can be used to evaluate a complex food systems intervention. MethodsFour methods focused on food-producing firms and their management, including a survey of intervention participants (n = 83 individuals), a “laboratory-in-the-field” experiment (n = 83 individuals), baseline/endline data on firm performance (n = 71 firms), and semistructured interviews (n = 19 firms). Three methods focused on consumers in neighborhoods targeted by a supported firm: a randomized field experiment tested effects of making a supported product exhaustively available on consumers’ purchases and consumption (n = 1295 consumers); 3 discrete choice experiments (n = 1295 consumers) tested factors influencing consumers’ willingness to pay for foods with relevant characteristics. ResultsAmong firms, we saw suggestive evidence of increased networking and business relationships, while laboratory-in-the-field experiments indicated the intervention might foster cooperation among participants. Qualitative interviews suggested that the intervention enabled firms to increase production, improve management, increase revenues, and lower costs. Baseline/endline data confirmed a positive effect only on the launch of new products and hiring workers. In the field experiment, consumption of the supported product increased in areas where it was made available relative to a control group, but this did not increase overall consumption of the food type or dietary diversity. ConclusionsResults showed positive signs of the intervention improving firm-level outcomes but limited impact on consumers’ diet quality. The evaluation also demonstrates how diverse methods can be used to evaluate complex interventions.

중국 패스트 패션 기업의 시장지향성, 정보공유, 신제품개발 유연성, 제품 모듈화, 개발성과 간의 구조관계에 관한 연구

This study defines market orientation and strategic information sharing as essential aspects of new product development, and aims to understand how the comprehensive activities of these factors affect the flexibility and performance of new product development. In addition, it aims to address the importance of market orientation and information sharing in rapidly developing and launching new products for companies currently operating in the fashion industry. The results derived from are summarized as follows. First, it proved that market orientation had a statistically significant positive effect on the flexibility of new product development. Second, strategic information sharing had a positive effect on the flexibility of new product development. Third, it was confirmed that the mediating role of product modularization in the 'market orientation→product modularization→new product development flexibility' path was not statistically significant. Fourth, the mediating effect of product modularization in the 'strategic information sharing→product modularization→new product development flexibility' path was statistically significant. It recognized the importance of market orientation and information sharing in the rapid development and launch of new products to companies operating in the Chinese fashion industry, and ultimately provided useful implications for improving new product development performance through modularization of product production.

Postmodern organizational theory: empirical substantiation and practical application

The sports industry today is not only an important component of the socio7cultural life of the population, but also an open platform for the development of entrepreneurial projects in sports. Entrepreneurial activity in the sports industry includes the development of new ideas, the implementation of business plans and the search for investors to introduce new directions. Currently, the requirements of the markets for goods and services to enter them are quite high, there is high competition for consumer attention and a fairly short time for the launch of new products and services. Therefore, when implementing a new project in a shortened timeframe, entrepreneurs, including in the sports industry, face a difficult task: to take into account the existing critical factors when developing a new direction and reduce the risks during the implementation of the project. In this regard, managerial decision–making skills and the ability to calculate their consequences come to the fore.

Effective management decisions as a factor in the development of organizations in the sports industry

The sports industry today is not only an important component of the socio-cultural life of the population, but also an open platform for the development of entrepreneurial projects in sports. Entrepreneurial activity in the sports industry includes the development of new ideas, the implementation of business plans and the search for investors to introduce new directions.Currently, the requirements of the markets for goods and services to enter them are quite high, there is high competition for consumer attention and a fairly short time for the launch of new products and services. Therefore, when implementing a new project in a shortened timeframe, entrepreneurs, including in the sports industry, face a difficult task: to take into account the existing critical factors when developing a new direction and reduce the risks during the implementation of the project. In this regard, managerial decision-making skills and the ability to calculate their consequences come to the fore.

Marketing problems of creating a new product

The concept of business management is primarily implemented through marketing. To promote new products to the market, special emphasis is placed on the importance of marketing technologies. One of the biggest challenges in creating a new product is identifying and understanding the target audience. Without a clear understanding of consumers' needs, wants, and pain points, it is difficult to develop a product that resonates. Companies must conduct thorough market research to gain insight into their target audience and gain a comprehensive understanding of their preferences, behavior, and demographics. By understanding these factors, companies can create marketing strategies that solve the problems of a specific consumer segment. Developing a unique value proposition is another major challenge when creating a new product. It describes the unique benefits that a product or service provides to potential consumers. It is important to create an offer that will stand out in a crowded market. This requires a deep understanding of audience needs as well as competitive analysis. By developing a new product, companies can differentiate their product and interest potential customers. Value for the consumer, expressed in additional benefits, is associated with a certain level of novelty of the product. Therefore, when introducing a new product to the market, there are risks due to its characteristics. Creating awareness and demand for a product is the last task in forming a new product. This requires the use of an integrated marketing strategy that includes various methods such as advertising, public relations and social media marketing. Companies must create customer personas to understand the needs and behavior of their target audience. By creating widespread awareness and informing the market about a new product, companies can create demand and stimulate sales. The authors examined the possible reasons for the unsuccessful launch of new products, which do not allow enterprises to compete effectively and ensure a stable position in the market. Key marketing problems that often arise when creating a new product, the spread of errors and ways to eliminate them are highlighted.

Special Issue on Application of Artificial Intelligence Techniques in Production Engineering

Artificial intelligence (AI) techniques have been behind disruptive innovations in every industry. Based on AI techniques, large amounts of data can be converted into actionable insights and predictions. Manufacturers have frequently faced different kinds of challenges, such as unexpected machinery failures or defective product deliveries. Still, the adoption of AI techniques is expected to improve operational efficiency, enable the launch of new products, customize product designs, and plan future financial actions. Recently, manufacturers have been using AI techniques to improve the quality of their products, achieve greater speed and visibility across supply chains, and optimize inventory management. Given that the attention and interest in AI techniques has been growing rapidly, it is time that the current state of the art of their practical applications be presented. The main aim of this special issue is to bring together the latest AI research and practical case studies of AI techniques in production engineering. This special issue features 10 papers related to not only operation automation but also sophisticated skill transfer in manufacturers. Their subjects cover various advancements, such as failure diagnosis, product estimation, process planning, operation planning, and workpiece fixturing in the area of machining. Moreover, the authors boldly strive to apply AI technologies even to complex systems in manufacturing fields such as laser-assisted incremental forming, injection molded direct joining, and parts assembling. We thank the authors for their interesting papers submitted for this special issue, and we are sure that both general readers and specialists will find the information the authors provide both interesting and informative. Moreover, we deeply appreciate the reviewers for their incisive efforts. Without these contributions, this special issue would not have been possible. We truly hope that this special issue triggers further research on AI techniques in production engineering.

Using a complex measure of product innovativeness to explain abnormal financial returns

PurposeBy examining the impact of product innovation on abnormal financial returns following the launch of new products, this study aims to test the explanatory power of a new compound measure of product innovativeness (Ganbaatar and Douglas, 2019).Design/methodology/approachIt is a longitudinal study in which the authors used the compound product innovativeness score (CPIS) for the first time to measure product innovativeness. The abnormal financial returns are estimated through the event study design, where four different models are used. Artificial neural network analysis is done to determine the impact of the CPIS on abnormal returns by utilising a hexic polynomial regression model.FindingsThe authors find effect sizes that substantially exceed practically significant levels and that the CPIS explain 65% of the variance in the firm’s abnormal returns in market valuation. Moreover, new-to-the-market novelty predicts 83% of the variation, while new-to-the-firm (catch-up) innovation insignificantly impacts firm value.Research limitations/implicationsThis paper demonstrates how the CPIS, an objective and direct measure of product innovativeness, can be used to gain more insight into the innovation effect.Practical implicationsImplications for the business practice of this study include the necessity of relentless innovation by firms in contested differentiated markets, particularly where technological advance is ongoing. Larger and mature firms must practice corporate entrepreneurship to renew their products on a continuous basis to avoid slipping backwards in their markets. Innovation leadership, rather than following the leader, is also important to increase competitive advantage, given the result that innovation followship does not produce abnormal financial returns.Originality/valueIn this study, the authors focused on the effect of product innovativeness on firm performance. While the literature affirms a positive relationship between innovation and firm performance, the effect size of this relationship varies, due largely to the authors contend to simplistic measures of innovativeness. In this study, the authors adopt the relatively novel “compound” measure of product innovativeness (Ganbaatar and Douglas, 2019) to better encapsulate the nuances of both technical novelty and market novelty. This measure of product innovativeness is applicable to firms of all sizes but is more easily applied to entrepreneurial new ventures and SMEs, and it avoids the shortcomings of prior firm-level and subjective measures of innovativeness for both smaller and larger firms. Using a more effective analytical method (Artificial Neural Network), the authors investigated whether there is a “practically” significant effect size due to product innovation, which could be valuable for entrepreneurs in practice. The authors show that the CPIS measure can very effectively explain abnormalities in the stock market, exhibiting a moderate effect size and explaining 65% of the variation in abnormal returns.

Organizational flexibility and pioneering behavior: the indirect effect of market dynamism in tourism firms

Flexibilidad organizacional y comportamiento pionero: el efecto indirecto del dinamismo de mercado en empresas turísticasResumenPropósitoEl objetivo de este trabajo es comprender el papel moderador del dinamismo del mercado en la relación entre la flexibilidad organizacional y el comportamiento pionero en las empresas de turismo de Arequipa, Perú. El estudio pretende profundizar en los antecedentes de la orientación pionera, entendida como una postura estratégica que favorece la creación y lanzamiento de nuevos productos al mercado.Diseño/metodología/enfoqueEl estudio empírico involucró el análisis, mediante regresión de mínimos cuadrados parciales (PLS), de 306 encuestas administradas a gerentes de empresas turísticas. La mediación también se realizó utilizando el método de “bootstrapping”.HallazgosLos resultados muestran que la flexibilidad organizacional tiene un impacto positivo en el comportamiento pionero, mientras que el dinamismo del mercado media positivamente en esta relación.Implicaciones practicesEl trabajo aporta interesantes aportes teóricos y empíricos para la gestión de empresas del sector turístico. Las empresas deben desarrollar capacidades para reconfigurar sus procesos y productos para implementar y explotar adecuadamente las innovaciones generadas en sus organizaciones. Además, las empresas turísticas deben mejorar su desempeño mediante la creación de nuevos productos y/o servicios, alineados con los cambios en los hábitos de compra y consumo de los clientes.Originalidad/ValorEl estudio pretende profundizar en el trasfondo de la orientación pionera entendida como una postura estratégica que favorece la creación y lanzamiento de nuevos productos en el mercado. También propone que el dinamismo del mercado es un factor a considerar en la mejora de esta relación.

Success Factors for Product Development and New Product Launch Projects

The paper discusses the success factors influencing product development design and product launch projects. The lives of people and businesses have been threatened and affected by the global COVID-19 pandemic for more than two years. Knowing these factors can help us make the right decisions and develop an effective project plan and matrix. Nowadays, project management is a very important part of work in companies of different sizes. Project management can be seen as applying innovation processes in an enterprise. The authors conducted quantitative and qualitative research on 544 companies in the Slovak Republic. The research focuses on aspects of project management and individual success factors. The data obtained by the questionnaire survey were processed by statistical methods, where the authors chose the nonparametric Kruskal-Wallis test as the basic method and the Wilcoxon two-tailed test for independent sample data sets. An essential variable in the sample of enterprises surveyed was, in particular, the sector of the economy in which the enterprise surveyed operates. Two key factors were considered when developing the product – employee education and the implication of social responsibility. The study’s uniqueness lies in surveying all types of enterprises, irrespective of their size, line of business, and financial turnover. The percentage distribution of the maximum use of CSR among the surveyed companies in each sector was most positive in the Logistics industry. Training and certification of employees are primarily one of the most important factors to ensure an increase in the success of those projects aimed at launching new products on the market; in the case of the surveyed sample, this is more than 40% of enterprises. Based on the sub-results, we can conclude that enterprises place more emphasis on new product development projects and the environmental concept of CSR. Still, the launch of new products or services is underestimated by the project management of enterprises. After more than eight years, the research has shown an increase in the importance of using social responsibility in management processes for new product development. A breakthrough finding is comparing the use of CSR in small businesses in Slovakia to global trends in which we perceive the dominance of multinational corporations. Enterprises are advised to focus specifically on new product launches and detailed planning.

Виведення нових косметичних продуктів на ринок: досвід міжнародної компанії L’Oreal Group

The aim of the article is to summarize the experience of an international company – the world leader in the perfumery and cosmetics industry – on the applied aspects of an effective combination of innovation activities and the introduction in practice of a comprehensive step-by-step system of managerial decision-making on the introduction of new products to the market. The article examines the effective combination of marketing and innovation activities in the L’Or?al Group, summarizes the practical experience of applying the strategy of diversification of the brand portfolio in the L’Or?al Group to develop and introduce new products to the market. It is proved that diversification is carried out in the assortment, geographical, distribution directions, allowing to create a unique model of research and innovation in the cosmetic industry, in which the main developments and research are carried out in research centers located in different parts of the world. It is noted that in research activities, L’Or?al Group experts are especially vigilant in five areas: human health, environmental protection, ethics, fair trade, and attention to the social and public impact of innovations, which creates an additional image advantage of the company over competitors. As a result of the study, it is determined that the organizational structure of the international company L’Or?al Group is built on the basis of allocation of four main subdivisions: consumer products; professional products; active cosmetics; luxury products, that creates unique competitive advantages for the company when introducing new products to the market. It is proved that a hundred years of experience in the commercialization of innovations, intensive activities on updating existing products and developing new ones have made it possible to create in the international company L’Or?al Group a step-by-step standardized plan for the launch of new products, which is used by each subdivision of the company, in each of its branches. It is substantiated that a clear step-by-step process of introducing new products to the market, taking into account both global trends in the formation of consumer demand and regional features of meeting consumer needs in each country, is a carefully planned complex process, in which the leading departments of the company play their role at a certain stage.

A production inventory model for high-tech products involving two production runs and a product variation

<p style='text-indent:20px;'>This paper explores a production inventory model considering two high-tech products of the same kind. One is the primary product and the other is the updated version of that primary product. Due to continuous development in technology, the life-cycle of some high-tech products, like, smartphone, tablet, laptop, etc. have become shorter. We witness the launching of new products more frequently in this field. This prompts the manufacturers to release an updated or pro version of their existing products after a certain time to compete in the market. The reputation of the primary product (in terms of quality and performance) plays an important role in generating the demand for the updated product. Due to the short life-cycle of the products, the proposed model considers only two consecutive production runs. One for the primary product and one for the updated product. Here the demands of both the products depend on the respective selling prices. Moreover, the demand of the updated product is also dependent on the quality of the primary product. Shortages for the primary product are allowed. Those shortages are backlogged partially with the updated product. Also, the possibility of imperfect production during regular production runs is considered. The selling prices, production rates, and the production run times for both the products are considered here as decision variables. Due to the complexity in the resulting optimization problem, the quantum-behaved particle swarm optimization technique is applied to derive the optimal profit. The concavity natures of the profit function are shown graphically. A numerical illustration is presented for the economic validation of the model. Finally, sensitivity analysis of the optimal solutions concerning the key inventory parameters is conducted for identifying several managerial implications.</p>

Winners and Losers: An Introduction to Product Management

Managers are essential in the strategy-making process and often use the launch of new products to aide in the advancement of their selected organizations. This article links current management curriculum with the role of the product manager, introduces students to the concepts of strategy and product management, and encourages students to think about the importance of new products. This is accomplished through an open-ended exploration of product design, pricing, and target market reactions while providing the opportunity to foster teamwork and creative thinking in the classroom. This exercise gives students the opportunity to analyze a product and pitch their product in the role of a product manager. During the exercise debrief, students learn how their given product was viewed by a target market and are challenged to think about what makes a successful strategic decision.

Knowledge management and innovativeness effects on product innovation in the textile context of Brazil

The main goal of this research is to examine the relationship between knowledge management processes, innovativeness, and product innovation in the Brazilian textile sector, based on a theoretical model that represents the positive impact that knowledge management processes have on innovativeness and product innovation. The proposed theoretical model was operationalized through a survey conducted with 157 Brazilian textile industries. The results showed that knowledge management processes impact product innovation through innovativeness. We concluded that when launching products, according to market trends and based on knowledge acquired, stored, and applied, companies seek to update their product portfolios based on the launch of new products, innovating to differentiate themselves from the competition and enhance better market and economic-financial results in the markets they operate.

The launch of new products: New technology driven firm-user interactions with key opinion leaders for single and multiple interactions

The launch of a new product is key to any firm’s success. Meanwhile, key opinion leaders (KOLs) have unique advantages in launching a new product in the supply chain, because they can interact with potential users, build customer relations, and enhance user satisfaction via the new technology in online platforms. This paper investigates how KOLs affect users’ utilities and demand as well as firm sales in launching a new product of consumer goods and trendy new product manufacturing industries. It examines the single and multiple dynamic firm–user interaction (FUI) strategies that are the key factors changing the supply chain. Several findings were obtained. 1) When the KOLs’ market influence is high, companies should adopt the FUI strategy to gain the KOLs’ assistance. 2) When users are not intent on buying new products, firms need to interact with users more frequently to increase the latter’s utility and demand. 3) The network externalities of online platforms and users’ preferences for new products are the key factors of dynamic FUI strategies. 4) For multiple interactions, the firm’s profits increase first and then decrease with the increase in the number of FUI. We enrich the literature on the supply chain’s new product sales strategies, improving firms’ new product sales performance, and increasing the success rate of new product development. Numerical experiments also demonstrate the impacts of model parameters on the optimal product selling strategies.

NEW PRODUCT DEVELOPMENT AND MARKET LAUNCH IN COSMETICS INDUSTRY

Even today, industrial companies are struggling on new product development and market launch. This article reviews the theoretical aspects of new product development and commercialization processes and the factors determining their success. Overviewed Baltic States cosmetics industry market and trends. The study focused on the success factors of new product development and market launch processes in the cosmetics industry. The aim was to identify and analyze the success factors of cosmetic product development and market launch processes and to provide a solution model. Identified factors prevailing in the development and launch of new products in the cosmetics industry sector and the connections between them. Investigated the influence of these factors on the success of new products in the market. The paper presents the results of a survey of companies in the Baltic cosmetics industry. Based on the results of the research, a model for the development and launch of new products for the cosmetics industry is presented.