MKTG7505 – Reflection on New Product Development/ New Service Development in iOmniscient and Noja Power

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Reflection on New Product Development/ New Service Development in iOmniscient and Noja Power

The Firm

iOmniscient and Noja Power are the firms under discussion. iOmniscient, a video analytic company deals with analysing videos using Multi-Sensory Analytics Platform that uses artificial intelligence technology (iOmniscient, 2019). The company‘s competitive advantage is based on its high degree of innovation in video analytics to solve problems. In contrast, Noja Power product- based company that develops and supplies medium voltage switchgear with a specialty on auto reclosing circuit breakers. Unlike iOmniscient that competes in the market on problem solving capacity, Noja Power competes on the basis of newness of product and value creation evidenced by the development of automatic reclosers (Noja Power, 2019). Apple and Huawei are companies that are well known for their innovation in information technology products. Their main competitive advantage is innovation.

Sales Forecasting

Sales forecasting was based on the education offered to the market. The company took it products to the UK security show and its products were extremely well received (iOmniscient, 2019). In contrast, Noja Power forecasted their sales by focusing on environmental friendly products which are highly demanded in the world.

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MKTG7505 – Reflection on New Product Development/ New Service Development in iOmniscient and Noja Power

MKTG7505 Product Strategy & Development
Reflection 2 (Individual – 15% marks)
Critical analysis of comparative video case studies on ‘Sales forecasting, product
development, marketing and post-marketing issues’
Task description: In this assessment, using the NPD/NSD concepts and frameworks that
were discussed in seminars;
(a) You will critically analyse how this stage of the NPD/NSD was undertaken in two
video case studies of high-tech firms that have been provided on Blackboard.
(iOmniscient and Noja Power)
(b) In addition, you will use published information from two other technology firms to
strengthen your discussion. (two other cases such as Apple and Huawei)
(c) Your focus will be limited to ‘Sales forecasting, product development,
marketing and post-marketing issues’ (we have covered the first half of the NPD
process in Reflection 1)
Submission format: You must adopt following format in your analysis. Use the headings as
applicable to case material. (You may not find evidence for all these stages Or the firms must
have followed them in an informal way).

MKTG7505 – Reflection on New Product Development/ New Service Development in iOmniscient and Noja Power
(1) The firm
Brief description of firms, their core product/s, degree of innovation and competitive
advantage (newness and value creation – problem-solving capacity).
(2) Sales forecasting
• How was the sales forecasting undertaken? What methods? To what extent the cases
used the methods discussed in seminars or did they follow a different way to
determine sales potential of the product/service concept?
(3) Product protocol
• Product protocol – how did the firm allocated and managed tasks needed for the
timely completion of the product?
• How were the core protocol elements (eg: target market) were determined
(4) Product design
• To what extent product design was important to the firm?
• Design process – issues encountered and innovative aspects of product/service
design?
• See the applicability of frameworks discussed in seminars (eg: functionality vs
aesthetics, contributions of design to new product goals, design goals and constraints,
product architecture))
(5) Team building issues
• What emphasis the firm placed on building effectives product/service development
teams?. MKTG7505 – Reflection on New Product Development/ New Service Development in iOmniscient and Noja Power
• What was preferred team format adopted (functional, matrix and venture)?
(6) Product use testing:
• To what extent they used the methods discussed in seminars? (Alpha, Beta and
Gamma testing) or did they had different ways of product use testing?
(7) Product launch and marketing strategy
• How was the product launch done? Was there a formal product launch?
• To what extent they used the strategic decision-making framework discussed in
seminars?
• How was the first sale achieved? How did it help in subsequent sales?
• Subsequent modifications/improvements to the product
High-tech marketing
• Any evidence of entrepreneurial marketing strategies to reach mainstream customers
who are generally sceptical about new technology? (examples below)
o Gaining legitimacy in the market
o Use of a reference site
o Developing a compelling unique selling proposition (USP)
o Competitive differentiation
o Compatibility with current technology used in the market
Service strategy
• To what extent they used services in their product marketing strategy?
• If the core ‘product’ was a service, what stages of the service development adopted?
Training staff with the needed skills? How were the employees empowered?
(8) Public liability and environmental/societal issues
• Was the product’s marketing campaign affected by any product liability or
environmental/societal issues?. MKTG7505 – Reflection on New Product Development/ New Service Development in iOmniscient and Noja Power.
(9) References (only those used in the report)
Online Submission
Word limit: Your report will be limited to FOUR (4) A4 pages in New Times Roman 12
point INCLUDING references.
You will submit using the link on Blackboard. Pl indicate ‘Reflection 2; Tuesday, your
name’ (example)………MKTG7505 – Reflection on New Product Development/ New Service Development in iOmniscient and Noja Power.

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