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AMN443 Second Presentation

innovation: Virgin Airways
by

Li-Te Hsu

on 5 June 2011

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Transcript of AMN443 Second Presentation

AMN443 Production and Service innovation Electrolux: M-Smart, the cooktop for the future Li-Te Hsu (Lee), Jirathun Wongtra-Ngan (Mun), Ying Liu (Julia), Yu-Mei Liu (Shirley) Company background Agenda Company background
Product innovation charter
Opportunity identification and idea generation
Product protocol
Product design
Product and Market test
Launch management plan
Conclusion
Reference Electrolux Electrolux is a Swedish appliance maker which is formed by Svenska Electron AB and Lux AB in 1919.
A global leader in household appliance and appliance
Target Market: Europe and North Market Electrolux is a Swedish appliance maker which is formed by Svenska Electron AB and Lux AB in 1919.
A global leader in household appliance
The largest Market: Europe and North America Product platform planning
Identify the Customer needs
Identify Greenfield Markets Innovation strategies Key Competency Global Brand
Product advantage
Big market share Product Innovation Charter As the leading brand of huse appliance manufacturer, Electrolux is working on a head of consumers’ needs.
The” M-Smart” is preparing for the kintchen of the future life. Background Focus Technology dimension: multi-function, smart & convenient kitchen (cooking + communication + touch screen)
Market dimension: beautiful kitchen, beautiful home Short-term (objective): 10% market share in the first year of after launch
Long-term (goal): increasing 5% market share by year Goal - Objectives Guidelines Degree of innovativeness: first –to-market
Timing: first
Miscellaneous: Avoidance of competition + Patentability Concept generation and evaluation OI - Opportunity Identification To avoid boring cooking, how to make cooking more interesting
Can do other household tasks or have a rest without worrying
Safer Product Concept Need New innovation of the cooking appliance which is more convenient, beautiful, safety and user friendly. Form Combines a monitor screen with internet access.
Provides phone connection and alarm set up controlling by touch-screen control panel. Bluetooth, Wireless and Touch-screen. Technology Concept Decision Use Bluetooth Technology for communicating between devices

Use Wireless internet access

Use high potential materials (Ceramics) as main surface material for easy cleaning and scratch or heat resistance. Description of product M-Smart is an elegant cooktop with multi-functions for satisfying the modern users. A cooktop is not only efficient and safe for cooking, but also has functions of communication and entertainment. Entertainment Flat screen
Wireless internet access Control panel Induction zone Finger touch control
Voice device
Remote control Communication Bluetooth- connnect cell phone M-Smart Product protocol Technology requirement
Market requirement Technology requirement Flat screen
Wireless internet access
Bluetooth connect cell phone
Touch activated electronic control
Voice prompt device
Remote control Market requirement Product name: M-Smart. (M=I am, Modern, Multi-function)
Price: $3000-$3500 (average price is 1500-2500)
Target Market: Luxurious Kitchen, medium and high income households
Positioning: Brand, Style. Function.
Specs: surface-glass ceramic; customised color; 4 induction zones ATAR Analysis 1.66 million Number of households in QLD
80% market is aware of the product
40% of these will try the product
60% of “aware” market has product available to them
20% of triers who will buy.
$500 price per device minus trade
margins& discount& manufacturing

ATAR = 1.66million×0.8×0.5×0.7×0.2 ×500
=$ 31.9 million profit Design the product Quality of the User Interface Easy to use, control cooktop more visually and directly
Safe to use Emotional Appeal Modern, fashionable, simple but elegant Maintenance and Repair Easy to clean
Warrantee for two years
Post-purchase service:
Trouble shooter, personal service for fixing Appropriate use of Resources Good quality of ceramic: beautiful, easy to clean,
and Anti-scratch Product differentiation Corporate identity: innovation
Multi-functions Product and market testing Product test Alpha Test 1. Communication Test
2. Overall-work Test Beta Test 1. User 1. User Acceptance Testing (UAT): User-friendly Test
2. Pilot Test: Give product samples to group of Electrolux's old customers focusing on Australian market Market test Rollout: First Full launch in Brisbane, Melbourne, and Sydney Launch and Commercialization Launch management plan Potential Problem Potential customers are not willing to make a
trial purchase Tracking Tracking from the pilot test stage Contingency Plan Solve the problem from its origin
(technology phobia - provide the whole set of demo) Marketing Mix Conclusion Product innovation charter
Opportunity identification and idea generation
Product protocol
Product design
Product and Market test
Launch and Commercialisation Reference Australian Bureau of Statistics.(2010). http://www.abs.gov.au/ausstats/abs@.nsf/0/96D8ED5A95E96BEDCA2577660017E318?opendocument
Crawford, M., Benedetto, A.D. (2008). New products management. (9th ed) McGraw-Hill Irwin. Publishing.
Electrolux.(2011).http://annualreports.electrolux.com/2010/en/strategy/strategy.html Thanks for your listening!! 2012
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