The New Products of Clipboard Tablet Company - Essay Example

? BUS599 - Integrative Project, Mod 2 SLP Introduction Clipboard Tablet Company intends to introduce three new products in the business market that comprises X5, X6 & X7. The product i.e. X5 would be targeted to those customers who are not concerned about the performance of the product rather than the price. On the other hand, X6 will be targeted to the customers who focus on performance irrespective of the price of the product offered. Finally, the third product i.e. X6 would target the customers who are conscious towards both the price as well as the performance of the product. Product X5 X5 product would be delivered to those customers who concern more about its price rather than its performance. In this regard, the product i.e. X 5 could be sold at a price of$290 keeping its performance to be almost constant but with a little decline from 2012-2015. This can be better understood with the help of the following table. Source: (Elson, n.d.) It can be observed from the above table that X5 performed well in its growth stage. But gradually, the performance of X5 has been observed to be decline at a minimum rate from its growth to maturity stage. It can be stated that the strategy employed by Joe Schmoe relating to the product X5 is better than Clipboard as Joe succeeded in maintaining steady performance. The financial data of X5 product of Clipboard has been provided hereunder (Komninos, 2002). X5 2012 2013 2014 2015 Sales 1521170 1939864 1742696 1059089 Revenue 441139433 562560659 505381705 307135801 Variable cost 346,152,154 375,821,546 598,751,425 358,694,216 Total cost 457,896,321 331,245,789 304,578,126 256,871,361 Profit 130043864 189381008 161777375 66072456 Product X6 X6 product will be targeted especially to the high class customers who are much more conscious about the quality and performance of the product rather than the price. The company could offer the product at a price of $460 as compared to X5 tablets which was $ 290 dollar. The performance of the product can be better understood with the help of the following table. Source: (Elson, n.d.) From the above table, it can be viewed that the performance of X6 is quite impressive in its introductory stage i.e. in 2012 but fall slightly in the next year. However, the performance has been viewed to be more impressive in the maturity stages. It can be affirmed that the strategy of Clipboard relating to the product X6 is better than Joe as it made constant growth at the maturity stages with a little decline in the year 2013. The financial information of X6 belonging to Clipboard has been depicted hereunder. X6 2012 2013 2014 2015 Sales 1,059,527 1,618,949 2,007,420 1,578,907 Revenue 487,382,302 744,716,491 923,413,185 726,296,995 Variable cost 354,474,689 487,105,945 350,116,782 307,489,042 Total cost 400,134,689 332,765,945 695,776,782 353,149,042 Profit 150,352,448 252,405,545 324,272,694 244,997,705 Product X7 X7 tablets will be targeted to those customers who concern both the price as well as the performance of the product. The price of X7 can be offered at $180 keeping in mind the perception of the customers regarding the product. The performance of the product can be better understood with the following table. Source: (Elson, n.d.) From the above table, it can be stated that the performance of X7 is not quite satisfactory at the growth stage but increased as well as remained constant at the maturity stages. It can be stated that Clipboard successfully managed to maintain a steady growth of X7 product as compared to Joe as the products of Joe showed no signs of growth and remained steady. The financial information about X7 product of Clipboard has been provided hereunder. Development Decision Clipboard would decide the potential of the products on the basis of their performance in the market. All the three products performed differently in the market irrespective of price as well as performance. In this similar concern, it can be stated that the company would have to focus more upon the areas of research and development as well as different technological aspects in order to develop its various products. Moreover, apart from emphasizing upon R&D factor, the company also needs to concern the price as well as the performance of the products in order to comply with the requirements of the customers (Elson, n.d.). Market review The products i.e. computer tablets entered into the business market in the year 2010. Since from their initiation, it has shown rapid growth in the market. Various facets like sleek user interface, extended battery lives, excellent functionality and access to different applications have ultimately made the computer tablets one of the significant computing devices that broadly uses by the customers globally (Infinite Research, n.d). The clipboard company would target the entire tablet market by developing the products like X5, X6 and X7. The company should keep in mind the rapid changing preferences of the customers while offering its products in the business market. As the tablet market did not developed as much, the company should effectively deliver its products concerning both price as well as performance and attain greater market share. Alternate strategy By taking into concern the financial performances, it can broadly be stated that the customers hold diverse perceptions as well as responses about the different products of Clipboard. On the basis of its financial records, it can also be stated that certain portion of the customers are satisfied or impressed with the products that offer by the company that ultimately resulted in fluctuating financial results. In order to cope up with the fluctuating market situations, Clipboard would require adopting certain effective alternative strategies by a greater extent. According to the above table, as the performance of X5 is gradually declining at the maturity stages, Clipboard in this context may adopt certain changes in the features of the product. Moreover, the company can also emphasize upon R & D segment so that the sales of X5 could go higher. As the company succeeded in maintaining the growth of X6 product, the company would have to monitor the progress of the product incessantly as an alternative strategy so that its sales remain to grow extensively. In addition, the product i.e. X7 of Clipboard has been identified to be steady at the maturity stages. The company would require making certain technological changes as well as investing a substantial portion especially in the R&D segment for making as well as preserving the growth of X7 product in future stages (Elson, n.d.). . Brief Discussion of the Report The different products of Clipboard would be targeted to different genres of customers on the basis of the requirements as well as the preferences of the customers. The strategies employed by Joe for Tablet Development Company can be observed to maintain a steady performance of the products. It can also be observed that Joe succeeded to maintain a steady performance but failed to provide constant growth for the products. In this similar concern, the strategies that have been employed for Clipboard had provided the product with visible growth in the business market. Thus, it can be affirmed that the strategies of Clipboard can be considered quite better in comparison with the strategies of Joe as it intended to maintain the level of steadiness rather than growing the products considerably. References Elson, J. (n.d.). Tablet development sim. Retrieved from http://forio.com/simulate/jelson/tablet-development-sim-1/simulation/#p=page0 Infinite Research, (n.d). Worldwide tablet computer market forecast. Retrieved from http://www.infiniteresearch.net/files/Infinite%20Research%20-%20Worldwide%20Tablet%20Market%20Forecast%20Brochure.pdf Komninos, I. (2002). Product life cycle management. Retrieved from http://www.urenio.org/tools/en/Product_Life_Cycle_Management.pdf Biblography Clare, A. (2012). The Rough Guide to Android Phones and Tablets. United Kingdom: Rough Guides. Walker, G. (2003). Tablet pc report. Retrieved from http://www.walkermobile.com/Tablet_PC_Report.pdf Read More