X-: Breaking the Barriers of Sound with New Product Development - Essay Example

Task: X Breaking the Barriers of Sound with New Product Development The paper seeks to present an analysis of the case study of a Company that produces music playing devices suitable for athletes. X-! Company is enthusiastic about developing waterproof music playing devices for individuals who prefer listening to music while taking part in any sporting activity. The company experienced a problem with the brand. Initially, the product was produced based on the waterproof concept. It was a challenge for the company to broaden the target market based on the initial concept.

Nevertheless, a solution to the challenge was found. Below are answers to the case questions. Question 1 & 2 - The X-! product is unique and different from others. The uniqueness is drawn from the fact that it is weather proof, sweat proof and water proof. That means that water does not compromise the headphones functionality. The technology has made it possible for divers and other individuals spending time under water listen to music. Initially, X-! product targeted aquatic athletes. These included triathletes, surfers and swimmers.

The H2O Audio product was successful, which motivated the company to take a step that would see the target market expanded. After undertaking a series of activities to rebrand, the name H2O audio was rebranded to X-! “breaking the barriers of sound”. The target market for the products included all athletes (hikers, kayakers, swimmers, fitness activities like gymnasium, weightlifters, snowboarders, etc.) (Kerin, Hartley & Rudelius 267). Question 3 - The new product development process adopted by X-!

involved the new product strategy development, idea generation, screening and evaluation, business analysis, the development, market testing, and commercialization. The new product strategy development stage involved conducting an environment scanning. In the process the company studies the products available and identifies the new product that can be used together with the existing ones (business opportunity). During the second stage, the idea generation, the company seeks for ideas from employees, co-workers, volunteer athletes.

The company also uses open innovation for idea generation. During the third stage, screening and evaluation, X-! Company conducts a feasibility study to determine which idea is achievable given the level of the company’s resources. During the fourth stage, business analysis, the company conducts analysis such as break-even and other projections. During the fifth stage, the development, the company produces a prototype that can be used for further analysis like aesthetics and dimensions, functionality tests, etc.

During the sixth stage, market testing, X-! Company relies on armature athletes for feedback on the product’s functionality. Other sources of feedback are through online resources. The last stage is commercialization. The company sends a message to the market through its salespersons and retails stores about the availability of a new product. After which, the production begins (Kerin, Hartley & Rudelius 268). The process of new product development adopted by X-! Company is similar to the described in figure 10-3.

In both cases, there are seven stages with similar activities (Kerin, Hartley & Rudelius 257, 268). Question 4 – X-! product was successful due to the following reasons: first, the company avoided inadequate marketing evaluation. Second, the company avoided targeting the wrong group. Third, the company avoided products with less appealing attributes. Fourth, the company avoided inadequate advertising campaigns. Last, the company avoided a weak implementation of the marketing plan (Perez par. 1). Question 5 – Swanson’s says that X-!

is a solution Company. I have a suggestion of a product that I would present to them for evaluation. If the company still prefers targeting the athletes, they should evaluate the feasibility of developing water proof, weather proof and sweat proof wristwatch that measures the heart beat rate. The primary problem faced by the company was expanding the target market since the basic idea upon which the H2O Audio product created was associated with the aquatic environment. Most retail store managers were not familiar with the product’s use in a dry environment.

Other stores were viewing the company as Swim Company. The strategy adopted by the company to over the challenge involved X-! expanding the initial concept, waterproof, to waterproof, weatherproof and sweatproof. The approach I would take is to segment the target market into aquatic and land athletes. Land athletes would include all athletic activities that do not involve water. I would introduce the second product with a new concept, entertain, relax and motivate, which means that the music would entertain, relax the minds of athletes and motivate them to undertake effectively their training exercises (“PsyLab Innovation and Concept Research” Par. 1-10). Works CitedKerin, Hartley & Rudelius.

Marketing, Irwin: McGraw-Hill, 2014. Print.Perez, Dee 2012, Top 10 Reasons for New Product Failure. Web. 18 June 2015. http://blog.lib.umn.edu/perez185/jour3251/2012/12/top-10-reasons-for-new-product-failure.htmlPsyLab Innovation and Concept Research 2013. Web. 18 June 2015. http://www.psyma.com/topics/product-and-concept-development/