(Solved Homework): Do some external research and find a description of the NPD process of a product…

Do some external research and find a description of the NPD process of a product of your choice. Describe why you think the firm handled the NPD process well.

Expert Answer

An npd process can be defined as a process in which new product is developed for the market.
A new product can be defined as a product which opens an entirely new market or adopts horror places to the pre existing product. An old product introduced in a new market would also be considered a new product into that specific market.
Development of these products is called the new product development

  • The product I choose is a solar fan for the rural areas.

Idea behind creating the Solar fans for the rural areas was generated buy one of the companies who started generating electricity from the maintenance in the rural area. Even if the wind was enough to generate the electricity but the overall cost of generation was very high and the villagers cannot afford the same, hence need of an alternative energy source which could be used effectively by the villagers was required.

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  • Idealization

Product sized by one of the villages and was told to the company hundreds of times that the villages are not getting the electricity generated by the wind mills. Some alternative was needed to cool down the houses and the most basic thing which is required amending the air flow is a fan and company came into decision of making the Solar Panel based fans for The villages.

  • Conceptualizing

By conceptualizing about the different designs and keeping in mind about the operating environment as well as the manufacturing ease, company decided to build the fan locally and arranging the material and importing the solar panels from a different country for reducing the overall cost.

  • Prototyping

Prototyping was done and prototypes were created and given out to the villages for testing efficiency as well as the usability of the product. Feedback word taken from the villages and the final design was done .

  • Manufacturing

Final design was sent to the manufacturers in the big city with the bigger operating facilities as well as the factories. The manufacturer successfully manufactured in desired fan and send it to the market.

  • Deciding the market

Deciding the product’s specific it was also one of the most essential task done by the company. And the product was came to be sold in village area, local market as well as some local campaigns were done

Company has successfully integrated its new product development strategy and executed it with a proper management as well as proper research. By understanding the need of the market company is successfully generating revenues from the Solar Panel based fan and the product is also entering new market. By giving out that specific product to the villagers company has also improved its image of being a more ethical as well as research based company.

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