Tag: planning

New Product Planning Essay

New Product Planning Essay

  1. From the market share and cost points of view, why is the distinction between features and needs so significant in the field of product innovation?

The main reason why any company would choose to engage in product innovation is to increase their market share, the number of people using their products, with a view to gaining additional profits from the new clientele. To do this, it is important that the product addresses specific needs of the consumer that it had previously not addressed, that is consumer preferences; or if it is a new product, to address some particular needs that products from other companies which serve the same purpose are not addressing.

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Operating in Saudi Arabia: The Role of Information Technology and Planning

Operating in Saudi Arabia: The Role of Information Technology and Planning

A firm’s competitive strategy is defined by its theme-based and weighted-value proposition, but the execution of the strategy cannot be mandated by management (Forgang, 2004). Instead, strategy-specific decisions make operational a firm’s value proposition, and the practice of strategy-specific decision-making occurs through ongoing management control systems. For this reason, management control processes are exceedingly important, both in the industrial sector and in other areas of business as well.

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