BUKU JAWAPAN PEPERIKSAAN

Examination Answer Booklet

Dengan perkataan BB ONE NINE ONE SIX ONE ONE ONE FOUR
No. Pelajar In Words
Student Number Dengan Angka BB19161114
In Numbers
Kod dan Nama Kursus BG22303 PRODUCT PLANNING AND
Course and Code Name MANAGEMENT
Semester/Sesi SESSION 2-2020/2021
Semester/Session
Tarikh 9/7/2021

ARAHAN KEPADA CALON:

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Nombor Soalan: No. pelajar:
Question Number: 1 Student number: BB19161114

a)
- Background
Background is one of the compenent of PIC in strategic planning of new products.
Identify and analyze the important factors before releasing a new product in the
market. The purpose of identifying this background is to confirm the strategy and
purpose of the project whether it is in line with the strategy or not. This background
element is also more to the question of the company "why do we develop this
strategy?".

- Focus
Next, the company must provide clarity about the environment and technology
owned by a product. Here too, the company must focus on clear technological
dimensions such as core competencies and existing technologies in the products to
be released. Here too, the company must focus on a clear market dimension
whether from customer profits, distribution channels and also customer segments.
The company should also see if the product is suitable and has good potential in the
future.

- Goals- objectives
Apart from that, goals- objectives are also compenent for strategically planning new
products. In this part, a company that produces a new product must know what the
project will achieve either objective in the short term or objective in the goals in the
long term and can be measured through profit, growth, and market share for the
product.

- Guidelines
The last component is guidelines. Strategic planning is important and should have
specific guidelines. In terms of rules set by the situation or by superiors. Guidelines
in terms of the innovation of a product is whether the product achieves the goals
that the company wants, in terms of quality, cost and others.

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b)
-New-to-the world
A company is discovering the latest features that have never been created before in
the market. For example; Polaroid camera, iPod and iPad, HP laser printer,
Rollerblade inline skateboard, P&G Febreze.

-New-to-the firm products

This product is not new in the market but it is in a new category for a company. For
example; P&G's first shampoo or coffee, Hallmark gift item, AT&T Universal credit
card, Canon laser printer.

- Additions to existing product lines

This is a continuation or further expansion of the product line offered to the current
market by the company. For example; P & G’s Tide Liquid, Bud Light, Special K line
extensions (drinks, snack bars, crystals).

- Improvements and revisions to existing product

Adding better elements to a product. For example; P & G’s continuing improvements
to Tide detergent, Ivory soap.

- Respositionings
Re -target products for new uses or applications and also re -target new users or
new target markets. For example; Arm & Hammer baking soda sold as a refrigerator
deodorant; aspirin repositioned as a safeguard against heart attacks; Marlboro
retargeted as a man’s cigarette.

- Cost reductions
The company manufactures new products and has the same functionality for
customers but at a lower price. For example; the product may be new in terms of
design or production.

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c)
- Phase 1: Opportunity Identification/Selection
At this stage, new product opportunities will occur as a measure of ongoing business
operations. A company should propose new products, changes in marketing plans,
new needs or wants in the market and others. This must be carried out carefully,
well assessed and also must be confirmed whether the opportunity can be used or
not and can proceed to the next step. Among the sources of opportunities are, an
underutilized resource for manufacturing process, for operatin and a strong
franchise. The next resource is a new resource for the discovery of a new material
wirh potential uses. In addition, an external mandate and an internal mandate.

- Phase 2: Concept Generation

At this stage, high potential or high urgent opportunities will initiate customer
engagement. At this stage must also ensure and understand how customers want
the problems they faced before to be solved by the product or service. Here, too, a
company must have a new product concept available and appropriate to the
opportunity to produce a new concept.

- Phase 3: Concept/Project Evaluation

At this stage, evaluate the new product concept. Evaluate in terms of technical,
marketing and financial criteria. At this stage as well, ask for permission of the
project proposal for evaluation results and be able to choose the best concept to be
carried out.

- Phase 4: Development
At this stage, combine two tasks namely in terms of technical and also in terms of
marketing. Technically it should follow the effort to design prototypes, test and
validate prototypes well and slowly increase the production required for product and
market testing. In terms of marketing, a company should provide more strategies
and tactics and details on the launch for the marketing plan. The company should
prepare a business plan and set product improvements in terms of services,
packaging, branding and others.

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- Phase 5: Launch
The next stage, commercializing the plans and prototypes from the development
phase. Here also the beginning of the distribution and sale of new products is carried
out. In conducting a product launch program, product launches should be handled
carefully to achieve the goals and objectives set at the beginning of the new product
process in the business plan by a company.

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Nombor Soalan: No. pelajar:
Question Number: 3 Student number: BB19161114

a)
- The New Product Process
It is the process of taking a product or service through concept development,
evaluation, expansion, launch and post-launch. The processes involved are, idea
generation, idea evaluation, concept definition, strategic analysis, product
development, market test, commercial and product launch.

- The Product Innovation Charter

It is a strategy for a new product to ensure that the product is in line with the
objectives and opportunities of the market or not. PICs have 3 major dimensions,
namely, the target business areas include product types, end user activities,
technology and end user groups. Next are the goals or objectives of product
innovation including both quantitative measures and special qualitative targets.
The last dementia is a program of activities to achieve a goal. Should also
identify weaknesses that should be avoided and so on.

- The Product Portfolio

This is a way to evaluate a new product or service offered by a company to be
added to an existing product line. Here too the company must look at financial
objectives and strategies. This element is important in financial analysis because
it provides context and details to a company and especially to the operations of a
company.

b)
- Internal Sources
New Product Employees Company can get idea through their employees. For
example, research and development team (R&D) is the formal department of
any organization to generate new ideas. R&D department research according
to the company’s future plan and then come up with the new ideas which

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 complete its journey with the full idea of the product. For example, most
companies now use web technology to get the ideas from their employees.
Therefore, the company can give reward or gifts to the idea that they pick up
as it could encourage the employees to be more creative and contribute more
in the future.

- External Sources:
 Competitors
Company can analyse the competitors and can find many things which can be
used for their idea generations. For example, the company can do some
research about their competitor as it can give them the idea about what the
company are missing or which thing that the competitors are missing.

 Suppliers
Suppliers can help with the information of the market like a new concept,
technique or materials which can be used for developing new products.

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Nombor Soalan: No. pelajar:
Question Number: 4 Student number: BB19161114

a)
Advantages
- Risk reduction
 Test marketing assists the organisation in developing promotional news
that complements the main release. It lowers the likelihood of a full-scale
launch. For example, during the test marketing period, the product did
not meet a specified number of sales or customer targets. As a result, the
corporation can still save money when launching the product.
- Strategic improvement
 Test marketing allows a company to learn about the knowledge of client
reviews. For example, the corporation can obtain feedback from
customers after they have used the product. As a result, the corporation
will be able to enhance what is lacking in the product, such as packaging
or ingredients, before releasing the official version.

Disadvantage
- Cost
 Even though it is only a test marketing campaign, the cost of doing so is
still high. This is due to the fact that firms typically use focus groups to
test product concepts. To use these focus groups, it can cost thousands
of ringgits, which small businesses cannot pay and may result in a loss.
- Time
 It normally takes 9 to 12 months to see the results of test marketing.
Some people take even longer. This is due to the company's need to
analyse sales and profit patterns while also looking for potential seasonal
trends. During this period of test marketing. The competition may keep
an eye on the test product, which is bad for the corporation.

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b)
- Assess the role or purpose of the brand
If the corporation wants the brand to aid in positioning, it must adopt a
meaningful brand name. For example, the brand is concerned with the
company's offering and image to occupy a specific place in the target market's
Which indicates that the brand must be distinct from its competitors and where
or how the customers may identify them.

- Possibility of extension to a line of products

- Possibility of long-term position in market
- Avoid an irritating or insulting name
- Be careful of regional differences in language
- Allocate enough time to brand selection
- Do not choose the wrong comfort level
- Other pitfalls

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