THE IMPORTANCE OF DEVELOPING AND LAUNCHING PRODUCTS II: The importance of developing and launching products:1.The development and launch products help business exist.2.The development and launch products help businesses increase profits.3.The development and launch products help businesses to develop, increase market share, improve its position on the domestic and abroad market.
VIETNAM UNIVERSITY OF COMMERCE FACULTY OF ENGLISH _________________________________________________________________ GROUP DISCUSSION ENGLISH 1.3 Topic : THE IMPORTANT OF DEVELOPING AND LAUNCHING PRODUCT Group: Class: Teacher: Group preparation assessment : No group Preparation assessment: List of students ( in the order of presenting ) N o Name ( For students ) ĐÀM VĂN ĐẠI PHẠM HUYỀN THƯƠNG NGUYỄN THỊ ANH THU ĐÀO THỊ HỒNG NHUNG Comments ( for teacher only ) Mark NGUYỄN THỊ HƯƠNG MEETING MINUTES – GROUP 2: Time: From 2.00 pm to 4.00pm Place: Cantin ký túc xá Members: All members in group Comments for discussing: THE IMPORTANT OF DEVELOPING AND LAUNCHING PRODUCT Xây dựng dàn ý cho nhóm Thế phát triển sản phẩm Tại phải phát triển sản phẩm lợi ích Thế mắt sản phẩm Tải lại mắt sản phẩm tầm quan trọng việc làm Conclusion: Các thành viên giao nhiệm vụ thực Duties for members: N o Name Perform ĐÀM VĂN ĐẠI Nhóm trưởng .Thiết lập đề cương , phân chia nhiệm vụ cho thành viên , Phần I part II , Tổn hợp . Chỉnh sữa ngữ pháp PHẠM HUYỀN THƯƠNG Thư ký . Làm slide , Part III , ghi chép họp NGUYỄN THỊ ANH THU Làm Part II phần II , bổ sung ý kiến chỉnh sửa ngữ pháp ĐÀO THỊ HỒNG NHUNG Làm phần mở đầu , Chỉnh sửa ngữ pháp NGUYỄN THỊ HƯƠNG Làm Part II phần III .Chỉnh sữa ngữ pháp , Làm slide Head of the team ( Signature and name) name) Secretary (Signature and MEETING MINUTES – GROUP 2: Time: From 2.00 pm to 4.00pm Place: Cantin ký túc xá Members: All members in group Comments for discussing: Thu sản phẩm người xâydựng khung cho Conclusion: Bài văn hoàn chỉnh gồm : Mở, Thân, Kết Xây dựng lời giới thiệu Duties for members : All idea of members in group Các thành viên nộp xây dựng cách mở . Thư ký ghi chép ý kiến tổng hợp Chốt lại nội dung mở Thống khung đưa cho bạn hoàn thành cá nhân . Chốt time nộp hẹn lịch họp tiếp Head of the team ( Signature and name) Secretary (Signature and name) MEETING MINUTES – GROUP 2: Time: From 2.00 pm to 4.00pm Place:Cantin ký túc xá Members: All members in group Comments for discussing: Thêm bổ sung ý kiến cho hoàn chỉnh Conclusion: Hoàn thành hoàn chỉnh phân công người thuyết trình. Hoàn thành Slide thảo luận Duties for members: Huyền Thương ,Hương : Phụ trách mảng slide Phân công bạn thuyết trình . Chỉnh sửa hoàn chỉnh Chốt time để tập dượt ăn khớp slide Chuẩn bị câu hỏi phản biện câu trả lời cho câu hỏi phản biện (Mỗi cá nhân tự chuẩn bị cho phần mình) Head of the team ( Signature and name) Secretary (Signature and name) MEETING MINUTES – GROUP2: Time: From 2.00 pm to 4.00pm Place: Cantin Ký túc xá Members: All members in group Contens for discussing: Tập dượt Conclusion: Chốt thảo luận người giao nhiệm vụ cho phần thảo luận nhà chuẩn bị Duties for members: Từng người thuyết trình kết hợp slide trình bày buổi thảo luận. Rút kinh nghiệm tổng kết việc làm. Kết thúc chuẩn bị. Head of the team (Signature and name) Secretary (Signature and name OUTLINE OF THE IMPORTANCE OF DEVELOPING AND LAUNCHING PRODUCTS PART I. INTRODUCTION - Introduction about the development of new products of the enterprise PART II. RATIONALE I. The importance of developing new products 1. The product life cycle 2. Product is basic determinant 3. New products are essential to growth 4. Factors supporting and impeding new product development 5. Increased consumption selectivity 6. Resources and environmental considerations II: The importance of developing and launching products: 1.The development and launch products help business exist. 2.The development and launch products help businesses increase profits. 3.The development and launch products help businesses to develop, increase market share, improve its position on the domestic and abroad market. III: How to develop and launch products - Provide solutions to development of new products of the enterprise PART III : CONCLUSION - Summary about the development of new products of the enterprise PART IV : EXERCISE PRACTICE - We choose products of samsung is the phone to discuss this issue THE IMPORTANCE OF DEVELOPING AND LAUNCHING PRODUCTS PART I. INTRODUCTION New products which take the form of new applications, of new innovations and the brand-new ones are important factors in the success and the development - survival of businesses. Coping with fierce competition in the market constantly, with constantly changeable needs of customers and with the advances in technology, a business has to have a strategy to launch new products as well as to improve current products to stabilize profits. "These new products are essential to viability. If we not continue to grow, we will "die" . To develop, businesses must continue researching, improving, developing and advertising new products to make differences if businesses want to survive long in the market. Developing new products is the main controlling tool of profit, it maintains competitive advantages and ensure the survival of the business. The development and the launching of new products in the market is extremely expensive and not every product has the ability to hold it on. As Patrick Barwise and Sean Meehan wrote in the book “Simply Better” : "Innovation for the sake of its own benefit is meaningless, but continuous innovation for improving performance based on the common advantage is essential to maintain the success of the business." Today, the new products bring many new opportunities and great success for businesses, especially in the field of technology (laptop, smartphone, ), fashion - cosmetics, functional foods . Besides, they also bring many risks. Many empirical studies show that the failure rate of new products is quite high, particularly in the consumption market. "A report by Nielsen said: Only out of 100 new products launched in the Southeast Asian market achieves the criteria of successful innovation for distinctiveness, relevance and reliability, according to a report on " Breakthrough Innovation ". In addition, researches on 2,500 consumption products are launched in the market in 20 categories leading “Fast Moving Consumer Goods” (FMCG) in Malaysia, Indonesia, Philippines and Thailand by Nielsen shows unexpected results of investments into new products business. Accordingly, there is less than 2% of these 2,500 products on meeting the basic criteria for a successful product launching. Only 10% of new products which meets the requirements is suitable for a retailer to continue to add into sales product catalog after the first year”. In Vietnam, the products produced in most of the businesses in our country is still hardly competitive and not attractive enough even for the domestic market. So : "Why are the products of our country still hardly competitive like that?". One of important reasons is that the mission “Research & Development” (R&D) and the launching of new products are not taken seriously in the enterprises. According to the Business Services Association (BSA, 2011), the results of research and vote for Vietnamese high quality consumption goods at the end of 2010 showed that 80% of consumers complained about the lack of novelty of Vietnamese products. Around the world, in addition to the tremendous success of Apple, Samsung is the failure of Blackberry, and Nokia in the smartphone market, are clear evidences to the importance of the development and the presence of new products. PART II. RATIONALE I. The importance of developing new products 1. The product life cycle Like humans, each product has its own life cycle. They grow, decline and finally they are replaced. From birth to death, the life cycle of the product can be divided into five stages : Introduction, growth, maturation, decline and rejection. Two points related to the concept of life cycle help us to explain why product innovation is extremely important : Firstly, the current products of each company eventually become obsolete, while the intensity of sales and our market share is reduced by competitive products. Secondly, when the product becomes old, its profits will generally decrease. If these products are not replaced and innovated, the profit, the intensity of sales, and the market share of the enterprise will be reduced. And then, the company will kill itself. 2. Product is basic determinant New products are essential for the maintenance for margin of the company. When profits begin to decline while sales keep increasing, it is obligatory for the company to increase advertisements and its sales efforts or to cut down on the price or to both two things to continue the sales growth during the maturation stage of the product in fact of fierce competition. These promotional efforts and price reduction lead to a decrease in profits. In this case, managers should rely on profits to build strategies of product and the introduction of new products at a reasonable time will enable enterprises to maintain the desired level of profitability. 3. New products are essential to growth Commands for managing innovation often refer to “Innovate or die”. This attitude of innovation has become a philosophy. Furthermore, various studies have shown that recent developmental departments are the ones that have orientated for the new product in advance. To survive and grow, businesses must improve and develop new products to create products that are unique, innovative and consistent with the needs of consumers. 4. Factors supporting and impeding new product development Several external factors will promote the development and introduction of new products including : • The rapid development of advanced science and technology that raises more new demands; • The requirements and increasingly stringent selection of customers for different types of products; • Ability to replace one another of the products, shortened life cycle of products; • Status of increasingly tough competition in domestic and international markets… At the same time, the influence of outside and inside the enterprise can impede the development of new products: - The barriers outside including high costs for capital invested into innovations of product, the laws of the state, and high labor costs. -Internal factors include: the short-term profitability, lack of appealing motivations in managing new products, the lack of a new product orientation affected by the improper marketing research, delays in making decisions for new products, and the lack of a new product strategy. - Another obstacle is that managers not want to risk and to accept risk which is commensurate with the cost spent. 5. Increased consumption selectivity In recent years, consumers have more right to choose products. When the income distribution of customers increases and the products have become more abundant, many more demands of customers are satisfied. While customers have more and more choices in products, the market is full of these products, they can be products simulated from other products, or the relatively innovated products. This situation may result in situation of difficultly consumed products. And the best measure in this case is launching brand-new products. 6. Resources and environmental considerations Many companies, enterprises have begun to realize the lack of raw materials in the 70s of this century. Generally, we are realizing that the supply of many natural resources is limited and irreplaceable. These two state clearly indicates the importance of making new products. The market factors will significantly affect the decisions about products, simply because we can not waste our natural resources. As a result, the business must constantly innovate and perfect themselves in all aspects : production labor source, management of production and business, quick responsive behaviors to the fluctuations of business environment, profit human resources effectively, especially the talents in science and technique. II: The importance of developing and launching products: 1.The development and launch products help business exist. If businesses don’t notice the development and launch of the product is important, they will be left behind. The development and launch products help businesses to promote the sale of products, and to exploit the potential of the market. So, the production and business is better. That help businesses improve and confirm the role and position themselves in the market. Therefore, the development and launch of the product as well as the expansion of the market is an important activity for any businesses, it contributes to the success or failure of the business activities of business. 2.The development and launch products help businesses increase profits. This is a basic and natural for every business. When the development and launch of the product is done well and effectively, consumers will know your business more, they will choose the product of your business instead of other products. And is there anything more wonderful when increased product sales? The profits of your business will increase significantly. 3.The development and launch products help businesses to develop, increase market share, improve its position on the domestic and abroad market. In the economic conditions in the country, the region and the world is more volatile as today, the competition between businesses is very large. Therefore, businesses are faced with more competitors on the domestic and foreign. In order to exist and develop stably, businesses must always consolidate and develop their market as well as develop and launch their products. When the products of your business are chosen by more customers, so the reputation of the product as well as the business will increasingly. this helps businesses develop stably and long-term. III: How to develop and launch products - Businesses can develop products according to different directions: • Improve existing products; • Development of new products relative; • Development of new products and eliminate absolute unprofitable products. The process of developing new products include: Step 1: The discovery / search ideas Step 2: Screening ideas Step 3: Review and develop ideas Step 4: Marketing Strategy Step 5: Analyze business Step 6: Product Development Step 7: Testing the market Step 8: The Commercialization of products Developing new products is not an independent work, it involves strategy, policies, infrastructure, enterprise resources. Development of new products tied to support consistency with the entire operation of the business. Consider and evaluate many of the ideas and products, including aspects of market demand should be respected and always aiming at. Because of the lack of creative and innovative methods, no exact purpose will only cause damage. There are steps to launch a product. That is: Step 1. Research the competition - Learn to seriously evaluate competitors is very important if you want your new product success and get the maximum amount of a minimum period of time. Let's analyze, evaluate the company currently offers products or services similar to your idea. Step 2. Target your ideal customer - To introduce successful products need to focus on a very specific niche market. This way, customers will receive immediate value you're providing that you not need to be too strenuous. You have to understand what makes the impression customers. You need to have the intuition to understand the conversation in the first place clients when they need urgent a product or service that meets the market yet. Step 3. Identify core values - From the results of two studies on important, now is the time you created the concept of your core values. Simply list all the features that the product or service you have. Besides inserting the key advantage that features provided. And in the third column, write the greatest benefit. Now you rank them in order of importance to customers. The best way to this is to ask the customer. An online survey will quickly give you the answer. Next, you write the concept of core values values in 140 characters or less. This is the key to the key difference to your target customers and buy your unique advantages. Step 4. Define marketing strategy - When launching a new product to the market you need to develop a clear strategy with measurable goals. The key to this strategy is that you implement tiered product launch. First you start introducing new products to a small group of customers. Next give greater number of customers. And third, you focus financial resources to launch a campaign launched aggressive products to all customers in their market by integrating with external partners to promote sales for you to list their customers. Step 5. Spreading products - Once you have optimized the ability to provide sales and channel selection, you will have an order to provide products that can be placed almost on autopilot. You know what really is the value of each customer in your list. To increase the number of clients, the problem simply increase traffic by buying advertising package PPC PART III : CONCLUSION All of us realize the importance of developing and launching products have an important role on how the success or failure of a product.If a product has a proper development strategy and best suited to it, plus strategy launched and introduced it would be reasonable consumer widely known and used received well brings success such large profits for businesses. Almost all of the new products now emerging as the marketing must be launched to people known to many as a means of advertising through newspapers, television, cinema advertising, billboards, posters … In summary we see that to produce a new product and want products that have a place in the market are known, it can not ignore two important step is to develop and launch products. PART IV : EXERCISE PRACTIVE ( We choose products of samsung is the phone to discuss this issue ) I: Development strategy of Samsung phones. Samsung is one of the group produced the world's largest smartphone. Samsung continuity for the products of high quality cheap smartphone suitable for all consumers. Recently, Samsung officially launched two new super phablet the Galaxy Note and Galaxy Note Edge. In particular, the Note Edge leave much impression on the world of technology by the way out in changing device screen.But Samsung still frequent testing selected solutions to the market, as previously typically have curved screen Galaxy or Galaxy Round Alpha metal edges are step by Samsung trial, should the case this time Note Edge many people feel anxious about the level of finishing of the product. Samsung's development strategy is to reconcile everything and plenty of product launches can. II: The process of launching Samsung's products includes 1. Determine the business's strategy: In order to develop, every business must be directed to the future with a goal to be achieved, and the challenges to achieve that goal. And that goal called business's strategy. The business's strategy is the series of activities which designed to create a competitive advantage of the business. It is not just a plan, an idea, but it is the business's philosophy. Samsung is no exception! Samsung follow a simple business philosophy: dedication talent and technology to create products and services, there by contributing to a global society better. To achieve this goal, Samsung put a high value on people and their technology. Besides that, Samsung also operates under five principles set out by the company, including: - Comply with legal and ethical standards. - Maintaining organizational culture purity. - Respect for customers, shareholders and its employees. - Always interested in environmental, safety and health. - As a business with social responsibility. And reality has proven growth strategy and five principles of Samsung are completely correct. In the period 2009-2013, Samsung continuous release of new products, sales of high, such as: 2009 - Samsung's brand value ranked 19th in the world according to the list of The Best Global Brands 2010 by Interbrand. 2010 - Becoming the No. global electronics sales. - Introduction Galaxy series smartphone with Android operating system. 2011 - Begin construction of factories in Additional LCD Screen 7.5g Changzhou, China. 2012 - 9th ranked among the top 100 brands worldwide brand is worth 32.9 billion dollars. - Segment LCD screen has been switched to Samsung Mobile Display. 2013 - Introduction Galaxy S4 on the global market. 2. Prepare the marketing strategy for business's product: The marketing strategy is targeted at the number of products, market share in the market… When the project about the product is adopted, Samsung's marketing department must be prepared one marketing strategy for the product, and it must ensure the following three requirements: - Description of size, market structure and behavior of customers in the target market, which is expected to establish the location, target of sales, market share and profitability in the years ahead. - Present a common view of product distribution and marketing costs estimated for the first year. - Presentation of the future goals of the indicators: sales, profits, opinions about longterm strategy for the product. 3. Produce of products; launch products on the market: After testing the market, business will have a clearer basis to decide whether to mass produce the product or not. If the mass production was adopted, business have actually started to implement the plan for the production and marketing strategy for the product. In this time, the decision regarding the launching products on the market is very important. Specifically, during this period, business need through the decision: - When starting the official launch of its products in the market? - Is it launched somewhere? - Is the focus sold to customers who are you? - How our products are launched? What the active support to sales promotion? In addition, Samsung also plans to add a few accessories for the product launch activities such as: • About the product: - Contacting customers and introduce, customer care. - Do sales job, provide product information, promotions and prices for customers. - Persuading customers to buy products to achieve high business performance. - Maintain good relationships, good, long-term, sustainable customer. • Relations with the press: To give valuable information to the media to attract the attention of customers. To build the clip advertising the program aired on TV, appeared in magazines, on the Internet . There is such a new product to help go deeper into the mind of the customer. • The integrated communications: Communication activities both inside and outside develop strongly knowledge customer for products. Besides, Samsung should research the opportunities that competitors such untapped sales through new distribution channels, supermarkets, shopping centers . III: The Finally Samsung's sales are rising. In quarter 2/2012, Samsung earned 42.2 billion dollars, up 21% compared to the same period last year, profits reached $ 4.6 billion, up 48%. Nearly every part of Samsung are witnessing growth, private business mobile communications and ICT growth to 60%, operating profit in the media and electronic communications increased by 124%. We can say, Samsung is the special phenomenon in the mobile market. According to recent data from analyst Michael Walkley, Apple and Samsung share 108% of the profits earned in the previous quarter in the mobile segment. The popularity of Samsung has been confirmed as the previous month, the airline announced that it had sold 10 million Galaxy S3 in less than months. Of course, Samsung faces many obstacles. Firms benefit from the decline of Nokia and RIM, but no threat hovering that Google may soon launch the "absolute surprise" Android market reversal. Must also mention that Samsung is stuck in a copyright dispute with Apple persistent. Anyway, Samsung has found its way into every household penetration of refrigerators, washers, TVs and many other products. In other words, Samsung has created a "brand" are "touts" very high and unlikely to be confused, resonates with many clients on strategic market thanks to appear "anytime, everywhere "around. [...]... important, they will be left behind The development and launch products help businesses to promote the sale of products, and to exploit the potential of the market So, the production and business is better That help businesses improve and confirm the role and position themselves in the market Therefore, the development and launch of the product as well as the expansion of the market is an important activity... important : Firstly, the current products of each company eventually become obsolete, while the intensity of sales and our market share is reduced by competitive products Secondly, when the product becomes old, its profits will generally decrease If these products are not replaced and innovated, the profit, the intensity of sales, and the market share of the enterprise will be reduced And then, the company... management of production and business, quick responsive behaviors to the fluctuations of business environment, profit human resources effectively, especially the talents in science and technique II: The importance of developing and launching products: 1 .The development and launch products help business exist If businesses don’t notice the development and launch of the product is important, they will... more and more choices in products, the market is full of these products, they can be products simulated from other products, or the relatively innovated products This situation may result in situation of difficultly consumed products And the best measure in this case is launching brand-new products 6 Resources and environmental considerations Many companies, enterprises have begun to realize the lack of. .. contributes to the success or failure of the business activities of business 2 .The development and launch products help businesses increase profits This is a basic and natural for every business When the development and launch of the product is done well and effectively, consumers will know your business more, they will choose the product of your business instead of other products And is there anything... development of advanced science and technology that raises more new demands; • The requirements and increasingly stringent selection of customers for different types of products; • Ability to replace one another of the products, shortened life cycle of products; • Status of increasingly tough competition in domestic and international markets… At the same time, the influence of outside and inside the enterprise... 7: Testing the market Step 8: The Commercialization of products Developing new products is not an independent work, it involves strategy, policies, infrastructure, enterprise resources Development of new products tied to support consistency with the entire operation of the business Consider and evaluate many of the ideas and products, including aspects of market demand should be respected and always... competitors on the domestic and foreign In order to exist and develop stably, businesses must always consolidate and develop their market as well as develop and launch their products When the products of your business are chosen by more customers, so the reputation of the product as well as the business will increasingly this helps businesses develop stably and long-term III: How to develop and launch products. .. for the product, and it must ensure the following three requirements: - Description of size, market structure and behavior of customers in the target market, which is expected to establish the location, target of sales, market share and profitability in the years ahead - Present a common view of product distribution and marketing costs estimated for the first year - Presentation of the future goals of. .. inside the enterprise can impede the development of new products: - The barriers outside including high costs for capital invested into innovations of product, the laws of the state, and high labor costs -Internal factors include: the short-term profitability, lack of appealing motivations in managing new products, the lack of a new product orientation affected by the improper marketing research, delays . dượt Conclusion: Chốt bài thảo luận và mọi người được giao nhiệm vụ cho từng phần thảo luận và về nhà chuẩn bị Duties for members: Từng người thuyết trình kết hợp slide và trình bày như buổi thảo luận. Rút. chỉnh Conclusion: Hoàn thành bài hoàn chỉnh và phân công người thuyết trình. Hoàn thành Slide thảo luận Duties for members: Huyền Thương ,Hương : Phụ trách mảng slide Phân công các bạn thuyết. For students ) Comments ( for teacher only ) Mark 1 ĐÀM VĂN ĐẠI 2 PHẠM HUYỀN THƯƠNG 3 NGUYỄN THỊ ANH THU 4 ĐÀO THỊ HỒNG NHUNG 5 NGUYỄN THỊ HƯƠNG MEETING MINUTES – GROUP 2: Time: From 2.00 pm to