A reflection by
Arguably, every business in the world began from a certain point. Hence, in the establishment of a company, responsible stakeholders need to consider the fact that the consumer is a rational individual, who always chooses the best quality at a minimal cost. For many organizations, with an intention of developing and launching a new product or service, having strategic framework for various organic growths that are based on customers’ proposition is crucial. The main message the author is sending to the audience concerns the development and launching of a new product in the market. In fact, the author drives the audiences into the process of rethinking the launching of a new product. The best process that the authors focus is in the customer value preposition.
The authors’ main audiences are all the organization, enterprises and individuals who have the intention of launching a new product in the market. The competition that is in the marketplace requires a strongest brand to survive the harshness of the market. Hence, the author directs this information to the audience in order to strengthen them on information need to launch a product. It is critical to understand that before launching a new product, there are various products that already exist; therefore, the new product that is launch should make the consumer forego the product he/she is using and use the new product. The author is sending a warning to the audience on the challenges faced when launching a new product.
Evidently, the authors have shown how launching a new product determines the future lifespan and dominance of the product in the market. Rethinking the launch of new product needs to be directed on the demands and needs of the consumer. The consumer is the only individual that should be considered in the process. The typical example that the author uses is the launching of quick-service restaurants. According to the authors, some companies carried out the best product launch process, and that has given them advantage over competitors. Some of the examples are the McDonalds and Taco Bell, whereby the launching quick-service products that are tremendously price sensitive. The authors also states that companies that dominate and surpass all the odds in the market apply a specific type of discipline, which include analysis, separate practices, as well as creative inspiration. Focusing on which service and product should be launched need to depend on various practices, namely, market-back analysis, capabilities-forward assessment, and Darwinian competitive review.
The author concludes by asserting that when the marketplace is new competition does not exist, making it easy to succeed with a new market product. In fact, it is easy to dominate the market and succeed by only applying one of the practices; Darwinian competitive review, market-back analysis, or capabilities-forward assessment. On the other hand, mature markets always offer a lot of competition and challenges. It is crucial to apply the tree practices when launching a new product; perhaps, this will strengthen the product domination and help it penetrate the market. Moreover, organic growth and expansion, is extraordinarily complex, but it requires a lot of innovation and knowledge. For example, Steve Jobs is the best in innovation; this is why expansion of Apple Inc brands succeeded. The company should always know what the consumer requires, then work towards satisfying the consumer preferences.
The authors in this case study have demonstrated the rethinking the product launch by using international companies in the globe. KFC is one of the successful Quick-service restaurants in the globe. These organizations have established their brand name, and launching a new product has been made easy. Hence, it is clear that launching of new products require skills, knowledge, innovation and customer’s confidence. The reader as received a lot of value, especially on issues related to new product launch. In the 21st century, we must incorporate social media in launching the product so as to easy penetrate the market.