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Id No: -PRBE/084/11
Detail design
Product launch
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while developing product design specifications, at the time of development of prototype along with
detailed design phase.
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risk of market uncertainty. Having a clear strategy is crucial to both a successful launch and
managing the product in the early stages of its life-cycle. Even a superior product may fail due to
poor product launch strategy. If products launch strategy matches with actual market conditions
then product launch becomes successful. There are a lot of elements to manage simultaneously to
achieve a successful launch. Moreover, it involves parameters such as branding, quality,
positioning, packaging, pricing, advertising, supply chain and distribution, manufacturing
elements, and inventory. Factors such as seasonality, retailer’s demand, sales force needs, and
market trends, innovation of new technology and government regulations can affect timing of
product launch. Profit maximization requires a detailed knowledge of both customer requirements
and market, and competitive pricing. It assumes an exact knowledge of product’s cost to perform
an accurate and meaningful profit margin analysis.
Conclusion
The overall conclusion from the article is that, Product design and development is an essential
activity for firms competing in a global environment. These activities drives organizational success
because they directly and significantly impacts nearly all of the critical determinants for success.
Customers demand greater product variety and are quick to shift to new, innovative, full-featured
products. In addition, customers make purchase decisions based on a growing list of factors that
are affected by product design and development. Safer and longer lasting products lead to
enhanced warrantee provision, which, in turn, impact customer satisfaction and warrantee repair
costs. Finally the paper gives a generalized frame to follow for product design and development
processes together.