Feasibility Analysis of New product design and development

For developing and designing a new product the operation manager has to plan the major and minor tasks with the project managers. This is the main step for developing and design a new product for the company. Then after this the company has to develop the feasibility analysis and also product specification.

For performing the feasibility analysis for the new product, the operation manager has to plan these steps in detail so that they can able to conclude their product is feasible or not in the market

In the first step the company has to check out the demands and supply of the new product in the market. The company is introducing the new product as the smart watch due to increase in technology in the world. Due to this increase in technology the demands for the new electronics increases day by day so this increase in the technology increases the demand of technological products in the market. However, when the demand of the technological equipment increases so the supply will remain the same.

There is no need to analyze the site for the new product because the company knows where they have to put their new product in the market for more sales.

The product manager must have to perform the market feasibility of the new product. For checking the market feasibility of the new product the product manager has to work on the demand of the new product that is smart watch. As the smart watch demand is extremely high in the market due to increase in technology so that means that the market is feasible for the new product.

The next step for the feasibility analysis of the new product, the company has to work on who are the main comparators in the market. This can be done through different surveys in the market so according to that the company can able to analyze easily that their new product can able to complete against different comparators in the market.

For the last step of the feasibility analysis the company has to perform the financial analysis for the new product that is smart watch they are launching in the market. In the financial analysis this company has to perform the entire steps needed to perform the financial analysis of the smart watches and make a huge plan for sustaining in the market for a long period of time.

Product specification of New product design and development

The new product the company is launching in the 2019 is the smart watches. There are a lot of specifications in their new product and they also want to make their smart watches cost effective so all kind of users able to afford these smart watches. The first major specification of the smart watch is the touch screen and the screen resolution of the smart watch. The screen length is extremely ideal according to the latest technology. They want to enhance the screen by 5 cm than the other competitors of the smart watches. Then this company worked on the screen resolution of the smart watches. They have improved the screen resolution of the smart watch like the smart phones. The next specification is in the android version in the smart watch. The company is focusing on improving the android version according to the latest technology and the watch has the ability to upgrade the android version.

The camera specification for the smart watch has been improved more and makes it more power full by increasing the mega pixel of the camera up to 2.2 MP. After wards another specification they have introduced in their smart watch is more accurate heart rate measurable system. The watch can able to measure the heartbeat more accurately and precisely than the other smart watches brands in the market. This smart watch has the ability to measure the steps, heart rate and blood pressure of the body.  After this the next specification they have introduced in their smart watches is the battery.

The company is using more efficient battery in their smart watches that can able to stable for a week. The company is using the Li-Po battery of 420 mAh battery and this battery has a standby time of 90 hours and more.  The next specification is that the smart watch is water resistant. This is one of the best and most important specifications in the smart watch the company is intruding in the coming year. The company also focusing on the size and strap of the smart watch, the company has introduced the most special design for their smart watch that can able to attract the technological and fashion lovers.  The internal specification of the smart watch is that its ram is about 2GB and also have the ability to insert SD card of 8GB and the nano simcard.

Legal and ethical consideration of New product design and development

Before introducing the new watch in the market the product manager has to focus on making the advertisement for their new product. For making the advertisement of the new product that is smart watch the product manager have to focus on the ethical issues before making the advertisement.  The advertisements make the consumer more attractive in purchasing their new product. If the advertisement is not according to the ethical consideration so this means that this advertisement is not legal.

The advertisement is according to the ethics when it shows all the things all the specifications that are present in their product. This means that, the advertisement must specify all the main points and specifications in the smart watch in detail and nothing extra than that. If the advertisement shows extra specifications that are not present in theirs smart watch so this is extremely unethical. As far as it concerns that if the advertisement is not ethical or not according to the specification of the product so because of this it breaks the consumer trust about their new product. Before making the advertisement they have to consider the ethical consideration that the advertisement must be clear and clean, there is no use of those elements that are unethical (Kuratko, 2013).

Before introducing the product in the market the product manager and operation manager has to perform several tests on the product. As this company is introducing the smart watch in 2019 so they have to work on different tests that have to be performed on smart watch. If the company launched the smart watch in the market without performing different tests on the watch so because of this the user will face many issues regarding the safety and reliability of the smart watch. For the ethical consideration the company has to focus on performing different test on their smart watches so that they can able to make adjustment in their smart watches for their safety. The company has to focus on the ethical issues regarding the market. For introducing the smart watch the company has to consider the ethical issued of the market so that they can able to successfully introduce their new product in the market (Lussier, Corman, & Kimball, 2014).

Human Factors of New product design and development

Before introducing the new product the company has to focus on all the human factors. The company is introducing the smart watch for the users who are interested in the new technology. The company must have to analyze the entire users before making the watch. This can be done through performing different survey for the users. The users of this watch are the members of new generation that are under 25 (Mohr, Sengupta, & Slater, 2010).

The next human factor is that the company has to focus on the environment and consider that the users are able to use the product easily. The company has to make user manual for the smart watch in different languages so that the users are able to understand all features of the watch in detail. The user felt no difficulty in using their product. The user manual must be clear and with easy language through considering human factors in detail. The most important part in the smart watch is attaching the smart watch battery for charging. For this the company has to give proper demonstration in steps because the charging pin is extremely sensitive (Sanders, 2011).

In the next step that the company has to consider for the human factor is the device interface.  The company has to focus on the design of the box so that the users are able to assemble all the parts easily after unpacking the box. This is the most important part for the human factor. The company focused on giving accidental coverage for the watch so that there will be no difficult for the users while purchasing their smart watches (Jürgens, 2013).

Cultural Factors of New product design and development

There are 7 cultural factors the company must have to focus while introducing the smart watch in the market. Before introducing the new smart watch in the market the company has to focus on the material used for making the watch. The company is using the semiconductor material for making the smart watch because many electronics products are made from the semi conductor materials. Before introducing the smart watch the product managers have to focus on the cultural factors for choosing the colors for the smart watch straps. According to the culture three colors are so much common that include black, blue, pink, white and golden. These kinds of colors are according to the culture.

As the company is introducing the smart watch the company has to focus on the shape and design of the watch that must be according to the culture. The company has to consider all the cultural differences into account so that the smart watch can able to sustain in the market for a long time. This means that if the smart watch will be introduced in North America side so they use black color for their straps of the smart watch because they like black color too much. And on the American side the company chooses the straps colors according to their culture. The next cultural factor is the language, for making the user manual for the smart watch the company has to consider the language factor.

Suppose if they are introducing their product in the China or Japan so the company has to make user manuals according to their language and also the watch has the ability to change the language according to the user feasibility.  In the start before launching the new smart watch the company must have to focus on the literacy rate of that place. This is because if the literacy rate is so much low of that place so it is very difficult for them that they can able to use their product. The next cultural factor is the religion of the place. They don’t have to introduce anything in their smart watch that is against the religion of the smart watch user (AHMED & ALAMM, 2017).

Environmental factors of New product design and development

Before introducing new smart watch in the market the company has to focus on the environmental factors. As the company has performed the feasibility analysis for the smart watch in detail so in this there is discussion about the environmental factors or the sustainability factors of the smart watch the company is introducing in the upcoming year. The company has work on the environmental impact of the smart watch in detail. This can be done through the use of different software. The software data easily prove that the different parts that are used for making the smart watch are environmental sustainable because these all parts are tested under the consideration of different product managers and they have concluded that the smart watch is the green product.

This smart watch has no impact on the environment while transporting the smart watch in the market and also when the users utilize the smart watch for their personal use. Through the use of this software it has been concluded that their smart watch is fulfilling all the environmental requirements. The environmental impacts of the smart watch are so much low during the whole process from manufacturing to disposing. The main problem occurs during the disposal of smart watch’s battery. This is because the battery is extremely harmful when it is disposed. This product has considered as the green product after performing different tests (Nah, 2014).

Technological factors of New product design and development

Before introducing the new smart watch in the market so the company must have to consider the technologies factors that are used to evaluate the available alternative with respect to different technological capabilities. The technology they are introducing in their smart watch must have to consider the entire latest technology in the smart watch. The technological factors have a very great impact on the latest product of the company.  Before introducing the smart watch the company has to work on the latest technological factors (Glasson, Therivel, & Chadwick, 2013).

 This is because if their smart watch is not according to the latest technology so their product will be unable to complete in the market. Internet connectivity feature in the smart watch is extremely important because if the company does not install the best software for the internet connection so their product is unable to complete in the market. The company has to make user manual for the smart watch in different languages so that the users are able to understand all features of the watch in detail. The user felt no difficulty in using their product. The company is using the Li-Po battery of 420 mAh battery and this battery has a standby time of 90 hours and more.  The next specification is that the smart watch is water resistant. This is one of the best and most important specifications in the smart watch the company is intruding in the coming year. The company also focusing on the size and strap of the smart watch, the company has introduced the most special design for their smart watch that can able to attract the technological and fashion lovers.  The internal specification of the smart watch is that its ram is about 2GB and also have the ability to insert SD card of 8GB and the nano simcard. For completing these technologies in their smart watches the company has to consider all the technological factors. All the factors for the technology are according to the environmental factors and all these factors have a great impact on the company environment (Grippa, Leitão, Gluesing, Riopelle, & Gloor, 2018).

References of New product design and development

AHMED, F., & ALAMM, M. A. (2017). BUSINESS ENVIRONMENT : INDIAN AND GLOBAL PERSPECTIVE. PHI Learning Pvt. Ltd.

Glasson, J., Therivel, R., & Chadwick, A. (2013). ntroduction To Environmental Impact Assessment. Routledge.

Grippa, F., Leitão, J., Gluesing, J., Riopelle, K., & Gloor, P. (2018). Collaborative Innovation Networks: Building Adaptive and Resilient Organizations. Springer.

Jürgens, U. (2013). New Product Development and Production Networks: Global Industrial Experience. Springer Science & Business Media.

Kuratko, D. F. (2013). Entrepreneurship: Theory, Process, and Practice. Cengage Learning.

Lussier, R. N., Corman, J., & Kimball, D. (2014). Entrepreneurial New Venture Skills. Routledge.

Mohr, J. J., Sengupta, S., & Slater, S. F. (2010). Marketing of High-technology Products and Innovations. Pearson Prentice Hall.

Nah, F. F.-H. (2014). HCI in Business: First International Conference, HCIB 2014, Held as Part of HCI International 2014, Heraklion, Crete, Greece, June 22-27, 2014, Proceedings. Springer.

Sanders, L. (2011). Developing New Products and Services: Learning, Differentiation, and Innovation. Business Expert Press.