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

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X-! Company is enthusiastic about developing waterproof music playing devices for individuals who prefer listening to music while taking part in any…
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X-: Breaking the Barriers of Sound with New Product Development
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"X-: Breaking the Barriers of Sound with New Product Development"

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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 ...Download file to see next pagesRead More
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