Marketing: New Product Development and Eaglin Household Appliance Essay

Submitted By fayeaglin
Words: 586
Pages: 3

Michelle L. Eaglin
Household Appliance Development
Professor Cal Hall
November 25, 2012

Developing a new product takes skill, hard work and determination. Along with that you will need to come up with a strategy and develop a plan that will implement all areas of the new product development process. Every firm should realize that the “development of new products is critical to long-term marketing success” (South University online lecture, Wk 4, Para. 1). By implementing and executing each stage of the process, you are insuring that the product will have a successful launch and will not fail. My company, Eaglin Enterprises has been asked to develop a new household appliance that every consumer, male or female would want to own for the home. The appliance that we have decided to create is a kitchen gadget that will do several jobs and take up less kitchen space. The kitchen appliance will have a base which will house the motor and you will be able to change the compartments for each job. The different jobs will include blending for beverages, chopping for ice, vegetables, etc., and grinder. Eaglin Enterprises will use its research and development team along with the collaboration of a technology research group to create an innovative and effective kitchen appliance. During this phase, we will have the R & D team create the plans, implement the design and then create the product. Once the product is built, the team will go thru the phase of solving the complex issues and coming up with ideas to make it effective (Grewal, M., 2012). The next step is screening all the ideas created by the R & D team. In order to be a success, a firm must be effective with the limited resources they have in the beginning to create the appliance. Meaning, you do not want to spend thousands of dollars creating, implementing and marketing a product and the product fails. If this happens, you will have spent a lot of money which could lead you to financial problems. Eaglin Enterprises will have a system that requires the idea to meet specific criteria. The third step is to development of the product. Next we will have come up with the final outline of the appliance. Within the outline we have mapped the criteria for continual…