New Product Diffusion
The environment in which we all live and enjoy, is an interactive human orientated and based, as well as a financial one. This is so, since every “movement”, or satisfaction of a certain need, is actually translated into monetary transactions, between men or even big, multinational, organisations and firms.
In our case this transaction is present, and people and their “service” needs satisfaction, those on which we have to depend upon, matching every aspect of our business and product or service, in order to satisfy any given consumer – customer potential need.
We are present in the Information Technology Industry, therefor we are servicing customers in the service orientated market place of Information Technology Industry. We do actually provide our customers with a simple intangible good, such as a Television IT Show. Thus our Business Plan, on which we will “draw” our “New Product Diffusion” on, must be a customer (consumer) based orientated one.
There is a significant path followed by most of the managers in the specific Industry, and Generally in the Service Activity Industry, the so called “Marketing Concept”:
Excellence in customer service is the objective of all organisations wishing to be successful. However, there is often a gap between customer expectations and management perceptions of customer expectations. Organisations often fail to get close to their customers and correctly read their expectations. Customers expect certain things when they walk into a business, and those with the highest level ...
The so called “Marketing Concept”, points out the following:
· The success of any firm depends upon the customer satisfaction that is being realised by the company, measured in monetary units.
· The Firm “must” know or predict possible and future needs of its customers.
· These needs must be monitored / measured through the company’s product development, (a part of this Project, deals with this specific matter more thoroughly).
· And finally the company’s Marketing Mix (Price, Product, Place, Promotion, People), must be aware of all kind of developments, and changes in the specified Market place, and Industry Sector of Information Technology.
Something big enough to conclude both consumers – customers- and suppliers – competitors- Firms of this specified Industry.
More specific the Greek Information Technology Industry. In order for any other kind of action and activity take actual place, such as a thorough gathering of Data, such as statistical data of both Primary and Secondary nature, we must first analyse the basic steps o f the “Marketing Concept”.
The two first issues are already covered, leaving only the opportunity of emphasising the fact that, we are part of the Cosmetic Industry, and that our main purpose is to meet and serve all potential, and existing needs of our customers.
The third issue, the one of actual monitoring and measuring the needs and actions of both our competitors and customers, is covered and analysed in a more specified “chapter” of this assignment.
We conclude with the company’s Marketing Mix, that comes to our aid, by “locating” all potentials and utilise them in a way that would be beneficial and the most efficient for our Company. There are four main factors that influence this marketing Plan:
· The Price of our “selected” product, that will influence, both the innovation-launching of our Product in the Market, as well as by which Pricing Policy will be followed by the Company, in the long-run. This will also influence the demand, and so on all other factors of this Marketing Mix will be affected.
· The Place from which we are willing of “communicating” our product to our customers. In this factor, our Marketing Department, must choose between several ways of “exposing” the specified Product, and suggest the most sufficient.
... the cost of iNKtopia products. However, iNKtopia will strive to create superior customer service and innovation of the ink business ... part of iNKtopia’s marketing plan described the target market, buying behaviors, decision motivators, and organizational target markets. Second, the plan ... or to terminate the product and transition to the new printing source. In this specific industry if ink is ...
· Our specified Product is the one of a Half hour Television IT Show. It is certainly a customer orientated and focused Product, and in order to be more specific, is IT Market targeted. It is a Product that aims, that the final “destination”, that the final “utilisation ”, and final user, is an actual IT literate human, that is an active IT Industry Consumer.
· Our Promotion Strategy, is the one that deals with issues, such as, where should this Product be “communicated”. Thus, to which customers, do we actually sell this Product.
We must chose between all consumers, to locate our customers and find ways of notification, that our product is actual present, consumable, and in a position of satisfying their needs “better” than all other potential existing competitive goods, in the Market place of Information Technology.
“Diffusion is a process by which an innovation is communicated through certain channels over time amongst members of a given social system”
– BUS358 Lecture notes.*
We must point out, that this Diffusion is actually processing in any Innovative situation. Thus an Innovation, in our case, would not only be the case of a totally different Television Show – Product – launch. It could be a new product, but much similar to “shape”, price, “use”, and targeted consumers group, as to all others. The innovation is only realised by promoting a new product in a similar form to others, but in the same Market of IT and Telecommunication Industry.
There are four key elements that actual affect the Diffusion of Innovation:
v Social System.
The Characteristics of Innovation:
In order for a Television Show – Product – to innovate through this Market, to be successful there are some more elements, that have a more than crucial part to this process. The following are those characteristics:
v Relative Advantage, towards other existing Competitive firms, operating in the same, IT Industry, and realise that through our customer demand.
... the Sony brand products has been equally important, with the accent on quality and innovation. Markets Today the world of consumer electronics can ... always held the view that good marketing involves pioneering the market, which comes down to market creation. Simply producing goods that meet ... from the factory right through to the retailer and customer, has helped to build the brand image, making Sony ...
v Compatibility of our Product. The more compatible our Product is, the more flexible, then more consumers will be our customers.
v Triability of our new Innovative IT based, TV Show Product, adds a plus to our customers opinion towards our firm and our old and new Diffused Products.
v If the customer can easily locate our Product, through out the big Market place, and obtain access to it, we are one more step closer to their needs and our set goals. Thus, Observabillity of the Product, is crucial. This Business Plan, makes that more than tangible.
v And final, the less Complex is our approach to the consumer, through the Product, or even our Marketing Strategies, the easier it would be for our “customers” too. (Complexity).
v Internet sites :
v Bus358, Behavioural Aspects of Marketing, University of Sunderland, Bus, School, Lecture & Seminar Notes
v University of Sunderland Mintel CD-RoM
v University of |Sunderland Key Note Facilities
v International Marketing Strategy, Environmental As. And Entry Barrieres and Strategies, Cz. Ronkainen, 1994 edition, the Dryden Press, Hartcourt Brace College Publishers.
v International Marketing, S.J.Paliwoda & M.J.Thomas, Butterworth-Heinemann Press, 3rd edition 1998, Panta Tree Publications .
v Consumer Psychology for Marketing, G,R. Foxall & R.E. Goldsmith, 1994 edition, Routeledge Press.