Newton Running Essay

The New Product Development process is the main process of bringing a new product into existence in a market. It is a process that aims at ensuring that the product is the best in the market. It is considerate of various factors, which are paramount. Depending on various factors, the manufacturer is not likely to undertake all steps involved in the process. Instead, he may choose some of the most significant steps to him. This is the reason why Newton Running focused on some steps.
One of the steps that he applied is idea generation. He had identified market niche and he felt his idea was extremely good and would be rewarding if it was implemented. The partners had not been exposed so much into the industry but they could believe through market analysis that they would fetch wide sales. They also implemented the concept development and testing step. They were concerned of the unique features that they would include to make the product outstanding. They also employed beta testing and market testing, which was extremely useful in assisting them make changes on the product. They also used technical implementation step, which was fundamental in defining how activities of the company would flow. Also, the last step which is new product pricing was equally fundamental to ascertain the founders on the level of competition in the industry and what they are required to do.
However, there are some steps that were skipped. One of the steps is idea screening and concept development and testing. The inventors did not have adequate resources to assist them in this. Also, business analysis and commercialization could not have been implemented following lack of adequate knowledge on the market.
According to the four-stage Product Life Cycle, the Newton Running is at the maturity stage. The company has to a level that it has been fully established. The management is aware of the competition that is likely to occur and it is working towards ensuring that it remains on its feet to suit the new competition. At this level, technology is changing from time to time. The company emphasizes on technology in its manufacturing process. This keeps the company at a position that it will sustain its customers for long. The company has already gathered its customers. This was done through the internet, which is one of the best marketing platforms that any organization can use. At its stage, the company has also settled in terms of management, which is one of the most fundamental requirements for excellence in the market. There is excellent allocation of roles, which makes it easy for businesses to flow in the company. Customer satisfaction, which is fundamental in every organization, has been realized.
However, despite the above merits that have made the company shine in a competitive market for sport shoes there are various elements that could have been done differently to define greater success for the business. One of the things that could be done is commercialization of new products. Instead of using internet alone, products launch, and products advertisements and promotions could have been useful. A channel of distribution can be developed to ensure that products reach most of the people in the market. Business analysis should also be considered as paramount element with consideration of selling price on basis of competition and customer’s feedback being extremely useful in defining more success for the company.