THE IMPORTANCE OF DEVELOPING AND LAUNCHING PRODUCTS

THE IMPORTANCE OF DEVELOPING AND LAUNCHING PRODUCTS II: The importance of developing and launching products:1.The development and launch products help business exist.2.The development and launch products help businesses increase profits.3.The development and launch products help businesses to develop, increase market share, improve its position on the domestic and abroad market.

VIETNAM UNIVERSITY OF COMMERCE

FACULTY OF ENGLISH _

GROUP DISCUSSION ENGLISH 1.3 Topic : THE IMPORTANT OF DEVELOPING AND LAUNCHING PRODUCT Group: 2 Class:

Teacher:

Group preparation assessment : No group

Preparation assessment: List of students ( in the order of presenting )

5 NGUYỄN THỊ HƯƠNG

MEETING MINUTES – GROUP 2:

Time: From 2.00 pm to 4.00pm

Place: Cantin ký túc xá

Members: All members in group

Comments for discussing: THE IMPORTANT OF DEVELOPING AND

 Tải sao lại ra mắt sản phẩm và tầm quan trọng của việc làm đó

Conclusion: Các thành viên được về giao nhiệm vụ và thực hiện

Duties for members:

N

1 ĐÀM VĂN ĐẠI Nhóm trưởng Thiết lập đề cương , phân chia nhiệm

vụ cho thành viên , Phần I part II , Tổn hợp Chỉnh

4 ĐÀO THỊ HỒNG NHUNG Làm phần mở đầu , Chỉnh sửa ngữ pháp

5 NGUYỄN THỊ HƯƠNG Làm Part II phần III Chỉnh sữa ngữ pháp , Làm slide

Head of the team ( Signature and name) Secretary (Signature and

name)

MEETING MINUTES – GROUP 2:

Time: From 2.00 pm to 4.00pm

Place: Cantin ký túc xá

Members: All members in group

Comments for discussing: Thu sản phẩm của mọi người và xâydựng bộ khung cho bài Conclusion: Bài văn hoàn chỉnh gồm những gì : Mở, Thân, Kết

Xây dựng lời giới thiệu

Duties for members : All idea of members in group

Các thành viên nộp bài của mình và cùng nhau xây dựng cách mở bài

Thư ký ghi chép ý kiến tổng hợp

Chốt lại nội dung mở bài

Thống nhất khung bài và đưa cho các bạn về hoàn thành bài cá nhân

Chốt time nộp bài và hẹn lịch họp tiếp

Head of the team ( Signature and name) Secretary

(Signature and name)

MEETING MINUTES – GROUP 2:

Time: From 2.00 pm to 4.00pm

Place:Cantin ký túc xá

Members: All members in group

Comments for discussing: Thêm và bổ sung ý kiến cho bài hoàn chỉnh

Conclusion: Hoàn thành bài hoàn chỉnh và phân công người thuyết trình Hoàn thành

Slide thảo luận

Duties for members:

Huyền Thương ,Hương : Phụ trách mảng slide

Phân công các bạn thuyết trình

Chỉnh sửa bài hoàn chỉnh

Chốt time để tập dượt và ăn khớp slide

Chuẩn bị câu hỏi phản biện và câu trả lời cho câu hỏi phản biện (Mỗi cá nhân tự chuẩn bịcho phần của mình)

Head of the team ( Signature and name) Secretary (Signature and

name)

MEETING MINUTES – GROUP2:

Time: From 2.00 pm to 4.00pm

Place: Cantin Ký túc xá

Members: All members in group

Contens for discussing: Tập dượt

Conclusion: Chốt bài thảo luận và mọi người được giao nhiệm vụ cho từng phần thảo

luận và về nhà chuẩn bị

Duties for members:

Từng người thuyết trình kết hợp slide và trình bày như buổi thảo luận Rút kinh nghiệm

và tổng kết những việc đã làm Kết thúc và về chuẩn bị

Head of the team (Signature and name) Secretary (Signature and

name

OUTLINE OF THE IMPORTANCE OF DEVELOPING

AND LAUNCHING PRODUCTS PART I INTRODUCTION

- Introduction about the development of new products of the enterprise

PART II RATIONALE

I The importance of developing new products

1 The product life cycle

2 Product is basic determinant

3 New products are essential to growth

4 Factors supporting and impeding new product development

5 Increased consumption selectivity

6 Resources and environmental considerations

II: The importance of developing and launching products:

1.The development and launch products help business exist.

2.The development and launch products help businesses increase profits.

3.The development and launch products help businesses to develop, increase market share, improve its position on the domestic and abroad market.

III: How to develop and launch products

- Provide solutions to development of new products of the enterprise

PART III : CONCLUSION

- Summary about the development of new products of the enterprise

PART IV : EXERCISE PRACTICE

- We choose products of samsung is the phone to discuss this issue

THE IMPORTANCE OF DEVELOPING AND

LAUNCHING PRODUCTS

PART I INTRODUCTION

New products which take the form of new applications, of new innovations and the brand-new ones are important factors in the success and the development - survival of businesses Coping with fierce competition in the market constantly, with constantly changeable needs of customers and with the advances in technology, a business has to have a strategy to launch new products as well as to improve current products to stabilize profits "These new products are essential to viability If we do not continue to grow, we will "die" To develop, businesses must continue researching, improving, developing and advertising new products to make differences if businesses want to survive long in the market

Developing new products is the main controlling tool of profit, it maintains

competitive advantages and ensure the survival of the business The development and the launching of new products in the market is extremely expensive and not every product has the ability to hold it on As Patrick Barwise and Sean Meehan wrote in the book

“Simply Better” : "Innovation for the sake of its own benefit is meaningless, but

continuous innovation for improving performance based on the common advantage is essential to maintain the success of the business."

Today, the new products bring many new opportunities and great success for businesses, especially in the field of technology (laptop, smartphone, ), fashion - cosmetics,

functional foods Besides, they also bring many risks Many empirical studies show thatthe failure rate of new products is quite high, particularly in the consumption market "A report by Nielsen said: Only 1 out of 100 new products launched in the Southeast Asian market achieves the criteria of successful innovation for distinctiveness, relevance and reliability, according to a report on " Breakthrough Innovation " In addition, researches

on 2,500 consumption products are launched in the market in 20 categories leading “Fast Moving Consumer Goods” (FMCG) in Malaysia, Indonesia, Philippines and Thailand by Nielsen shows unexpected results of investments into new products business

Accordingly, there is less than 2% of these 2,500 products on meeting the basic criteria for a successful product launching Only 10% of new products which meets the

requirements is suitable for a retailer to continue to add into sales product catalog after the first year”

In Vietnam, the products produced in most of the businesses in our country is still hardly competitive and not attractive enough even for the domestic market So : "Why are the products of our country still hardly competitive like that?" One of important reasons is that the mission “Research & Development” (R&D) and the launching of new products are not taken seriously in the enterprises According to the Business Services Association (BSA, 2011), the results of research and vote for Vietnamese high quality consumption goods at the end of 2010 showed that 80% of consumers complained about the lack of novelty of Vietnamese products

Around the world, in addition to the tremendous success of Apple, Samsung is the failure

of Blackberry, and Nokia in the smartphone market, are clear evidences to the importance

of the development and the presence of new products

PART II RATIONALE

I The importance of developing new products

1 The product life cycle

Like humans, each product has its own life cycle They grow, decline and finally they arereplaced From birth to death, the life cycle of the product can be divided into five

stages : Introduction, growth, maturation, decline and rejection

Two points related to the concept of life cycle help us to explain why product innovation

2 Product is basic determinant

New products are essential for the maintenance for margin of the company When profits begin to decline while sales keep increasing, it is obligatory for the company to increase advertisements and its sales efforts or to cut down on the price or to do both two things tocontinue the sales growth during the maturation stage of the product in fact of fierce competition These promotional efforts and price reduction lead to a decrease in profits

In this case, managers should rely on profits to build strategies of product and the

introduction of new products at a reasonable time will enable enterprises to maintain the desired level of profitability.

3 New products are essential to growth

Commands for managing innovation often refer to “Innovate or die” This attitude of innovation has become a philosophy Furthermore, various studies have shown that recent developmental departments are the ones that have orientated for the new product

in advance To survive and grow, businesses must improve and develop new products to create products that are unique, innovative and consistent with the needs of consumers

4 Factors supporting and impeding new product development

Several external factors will promote the development and introduction of new products including :

• The rapid development of advanced science and technology that raises more new demands;

• The requirements and increasingly stringent selection of customers for different types of products;

• Ability to replace one another of the products, shortened life cycle of products;

• Status of increasingly tough competition in domestic and international markets…

At the same time, the influence of outside and inside the enterprise can impede the development of new products:

- The barriers outside including high costs for capital invested into innovations of product, the laws of the state, and high labor costs.

-Internal factors include: the short-term profitability, lack of appealing motivations in managing new products, the lack of a new product orientation affected by the improper marketing research, delays in making decisions for new products, and the lack of a new product strategy

- Another obstacle is that managers do not want to risk and to accept risk which is commensurate with the cost spent

5

Increased consumption selectivity

In recent years, consumers have more right to choose products When the income

distribution of customers increases and the products have become more abundant, many more demands of customers are satisfied

While customers have more and more choices in products, the market is full of these products, they can be products simulated from other products, or the relatively innovated products This situation may result in situation of difficultly consumed products And the best measure in this case is launching brand-new products

6 Resources and environmental considerations

Many companies, enterprises have begun to realize the lack of raw materials in the 70s ofthis century Generally, we are realizing that the supply of many natural resources is limited and irreplaceable These two state clearly indicates the importance of making newproducts The market factors will significantly affect the decisions about products, simplybecause we can not waste our natural resources As a result, the business must constantly

innovate and perfect themselves in all aspects : production labor source, management of production and business, quick responsive behaviors to the fluctuations of business environment, profit human resources effectively, especially the talents in science and technique.

II: The importance of developing and launching products:

1.The development and launch products help business exist.

If businesses don’t notice the development and launch of the product isimportant, they will be left behind

The development and launch products help businesses to promote the sale ofproducts, and to exploit the potential of the market So, the production andbusiness is better That help businesses improve and confirm the role andposition themselves in the market Therefore, the development and launch ofthe product as well as the expansion of the market is an important activity forany businesses, it contributes to the success or failure of the business activities

of business

2.The development and launch products help businesses increase profits.

This is a basic and natural for every business When the development andlaunch of the product is done well and effectively, consumers will know yourbusiness more, they will choose the product of your business instead of otherproducts And is there anything more wonderful when increased product sales?The profits of your business will increase significantly

3.The development and launch products help businesses to develop, increase market share, improve its position on the domestic and abroad market.

In the economic conditions in the country, the region and the world is morevolatile as today, the competition between businesses is very large Therefore,businesses are faced with more competitors on the domestic and foreign Inorder to exist and develop stably, businesses must always consolidate anddevelop their market as well as develop and launch their products When theproducts of your business are chosen by more customers, so the reputation ofthe product as well as the business will increasingly this helps businessesdevelop stably and long-term.

III: How to develop and launch products

- Businesses can develop products according to different directions:

• Improve existing products;

• Development of new products relative;

• Development of new products and eliminate absolute unprofitable products

The process of developing new products include:

Step 1: The discovery / search ideas

Step 2: Screening ideas

Step 3: Review and develop ideas

Step 4: Marketing Strategy

Step 5: Analyze business

Step 6: Product Development

Step 7: Testing the market

Step 8: The Commercialization of products

Developing new products is not an independent work, it involves strategy, policies, infrastructure, enterprise resources Development of new products tied to support

consistency with the entire operation of the business

Consider and evaluate many of the ideas and products, including aspects of market demand should be respected and always aiming at Because of the lack of creative and innovative methods, no exact purpose will only cause damage

There are 5 steps to launch a product That is:

Step 1 Research the competition - Learn to seriously evaluate competitors is very

important if you want your new product success and get the maximum amount of a minimum period of time Let's analyze, evaluate the company currently offers products orservices similar to your idea

Step 2 Target your ideal customer - To introduce successful products need to focus

on a very specific niche market This way, customers will receive immediate value you'reproviding that you do not need to be too strenuous You have to understand what makes the impression customers You need to have the intuition to understand the conversation

in the first place clients when they need urgent a product or service that meets the market yet

Step 3 Identify core values - From the results of two studies on important, now is the

time you created the concept of your core values Simply list all the features that the product or service you have Besides inserting the key advantage that features provided And in the third column, write the greatest benefit

Now you rank them in order of importance to customers The best way to do this is to askthe customer An online survey will quickly give you the answer Next, you write the concept of core values values in 140 characters or less This is the key to the key

difference to your target customers and buy your unique advantages