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The paper discusses the development of a new product, Accident location finder, including its specification, concept generation process, target market, sales forecast, positioning strategy, augmented decision making, and business model canvas.

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Creating and Marketing New Products
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Creating and Marketing New Products 1
Contents
Introduction......................................................................................................................................2
Product Specification.......................................................................................................................2
Concept Generation Process........................................................................................................3
Idea Screening Decision..............................................................................................................3
Product Innovation Charter..........................................................................................................4
Target Market and Sales Forecast....................................................................................................4
ATAR Model...............................................................................................................................5
Product Positioning..........................................................................................................................6
Augmented Decision.......................................................................................................................7
Business Model Canvas...................................................................................................................8
Explanation..................................................................................................................................9
Conclusion.....................................................................................................................................10
References......................................................................................................................................11

Creating and Marketing New Products 2
Introduction
The purpose of this paper is to enlighten the reader regarding the information about the new
product developed in the environment. The paper highlights information about the specification
of the new product developed in the environment. The paper evaluates details about the target
market and sales forecast for the new product. The positioning strategy of the company is
implemented in the business environment so as to place the product in the right segment in the
market. The positioning strategy helps the customers in evaluating the features of the product
and giving them value accordingly. Furthermore, the augmented decision making process is also
defined in the paper for the new product along with the business model canvas for the new
product. Business model canvas is a model that define the value of the firm, its product, people,
infrastructure etc. facilities required by the organization to grow in the market. Further more
details about the paper are discussed below:
Product Specification
The product that is invented by the organization is “Accident location finder”. This product has
not been introduced by any other organization in the target. The accident location finder is a
product that is assumed that it will successfully help finding the exact location where the
accident is happened. This product will help the needy people by gaining information about their
accident from their car. When an accident happen, the car will automatically open the air bags
and will also notify the nearest emergency centre at the same time. The sensors of the car will
automatically reciprocate the message to the hospital so that they can send help to the people.
The feature in cars is named as ‘HOSAX’ because it is a link between the hospital and accident
location (Bradley, et. al., 2018).
The device would have information and details about all the hospitals and healthcare centres
present in the nearest location. It will further use this information as soon as it comes in contact
with the air bags as the censors will get to know that something happened to the car. The inbuilt
GPS tracker and antenna will help in getting knowledge about the area where the car is at the
present, once the information will call the nearest station for help and will send the signal of the
accident (Mohamad, et. al., 2016).

Creating and Marketing New Products 3
Concept Generation Process
Concept generation refers to the process of analysing the needs of the customers and target
market and designing the product accordingly. This activity requires the business to implement
brainstorming ideas so as to select the final design for the business. The process raises several
new questions and possibilities for the business to propose the product. Further, below
mentioned is the concept generation process for the HOSAX product in the business
environment:
Step 1: Clarify and Deconstruct the Problem
Initially the business needs to find an issue for which they need to provide solution in the
environment. After considering several aspects, the management of the company evaluated that
many fatalities are happening because help is reaching late at the accidental sights. Thus, they to
find such a model that call out for help from the hospitals as soon as accidents happen.
Step 2: Search for Solution
After analysing the issue, the business should then focus on looking for solutions in the internal
as well as external environment on the company. Thorough analysis helped in evaluating the
future possible outcomes with the help of which the business can create such a product in the
environment.
Step 3: Exploring and Organizing Solutions
Lastly, after procuring all the resources, the management then organized them in such a way to
attain success and eliminate issues in the business environment. This product shall be optimized
by the car manufacturers so as to save themselves and help at priority in case of an accident. This
product has an inbuilt GPS tracker that will track location of the car all the time when it is in
movement or it is stable.
Idea Screening Decision
The process of idea screening decision involves generation of the idea, analysis of product issues
and preparing the product to provide the best results to the customers in the environment. The
idea screening process for the HOSAX product involve identifying the rate of accidents
happening in the environment and how early medical help reaches to them. Further, procuring

Creating and Marketing New Products 4
resources and developing the product according to the need. Improvement initiated in the product
to cover the issues. Thus, it should be noted that the process analysis that whether the business
should pursue with the idea or discard it on the basis of macro environmental aspects.
Product Innovation Charter
The Product Innovation Charter (PIC) refers to the process of having a mission statement for the
innovation. The mission statement provides useful guidance to the new product team. It helps in
the proper development of the product. The Product Innovation Charter for the HOSAX product
is that, ‘the aim of this product development is to help the people in need and call for an
ambulance as soon as an accident happens. The motive of the company is to develop the device
in such a way that reaches to right person and eliminate the chances of fatalities of people due to
late coming of help to them. This motive will provide right direction to the management team
and will help them to effectively work to attain satisfaction in the target market (Siahaan 2018).
Target Market and Sales Forecast
The target market for the product HOSAX is diversified in the market. As the product is newly
invented so it can be assumed the right target market as, any and every person can look for
purchasing the product in the business environment. However, looking at the special features of
the product, it can be assumed that the company should offer the product to the people who
initially have cars. With the increasing rate of accidents occurring in the environment, it can be
seen as the necessity for the people to purchase this product as accidents not only happen to
those people who drive rash but it also happen to those people who drive safe. So, all the people
present in worldwide environment who drive a car should be targeted by the company (Rifqi
2019).
Secondly, the company should target the people whose parents are aged and they should target
the people whose children have recently become independent. These types of people are mostly
worried about accidents for their closed ones. Along with targeting families and parents in the
environment, the management of the organization should also target car-manufacturing
organizations for bulk orders. If the car manufacturing organization will purchase the product
HOSAX that will work as an inbuilt feature for the car only. Through this process, the companies
can increase its sales of the car as well. This feature can protect the people from accidents and it

Creating and Marketing New Products 5
can also save their lives (Nagadapally, et. al., 2015). It is believed that the company will not
target the people who belong to millennial age because they are young and carefree so they will
not focus on purchasing a product for their safety.
Thus, it should be noted that the target market for the HOSAX product would be people who
belong to age group of 35 to 55. Further, the company should also target the people who have an
extended family and have recently shifted to other places. The company should initially target
the people having cars, also they should target the people who regularly travel through their cars
or drive in a rash manner. Lastly, the company should target those organizations who are car
manufacturer. The car manufacturing organizations can introduce this product as a new feature in
their cars that can help them to increase their sales as well (Goel, and Singhal 2016). The
company should initially target people present in Australia. Secondly, they are should also target
people who have a conservative attitude towards everything and prefer using measures before the
problem occur.
ATAR Model
The sales forecasting for the HOSAX is evaluated using ATAR model. This model estimates the
percentage of sales of the product based on the given market size. This model examines the
potential success of new product or service in the business. The full form of this model is
Awareness, Trial, Availability and Repeat that is based on the concept of diffusion of the
innovation. Further, it should be noted that in order to initiate sales, it is important for the
business to let people know that this type of product exist. After letting people know about the
product, the business should try to opt this product in the market and initiate trial. Thirdly, after
the trial, the management should make the product available in the market so that people can
purchase it (Jain, et. al., 2016). Lastly, after initiating the sales of the product of the product for
the product the management should then initiate repetition of sales in the business environment.
Thus, on the basis of this model, it is expected that the availability of the product will make the
organization sell 50% of its entire production in the first year. The product is not something that
is purchased by people repeatedly so it is believed that product will take time to settle in the
environment. First year would be tough but gradually the company would be able increase sales
in subsequent years (Alshamsi, Këpuska, and Alshamsi 2016).

Creating and Marketing New Products 6
Product Positioning
Positioning refers to the strategy that helps the business to place the product at the right position
in the market. Positioning strategy is a marketing strategic process that involves the process of
branding the product in such a way that an identity is established about the product the target
market. The positioning strategy is implemented by the customers present in the target market as
they are the main people who create perception about the product in the market on the basis of
which the product is positioned in the market. Thus, the company need to initiate accurate
marketing strategies in such a way that the customers form a reputable image about the product
in the target market in the market. As the product is newly invented in the target market so there
would competitor of the product in the external environment, however the organization will still
face difficulty in positioning their product in the market (Iyer, et. al., 2018). The company will
position the product at a position that provides high quality at average price in the target market.
The product should target people who have optimum buying capacity in the environment. This
position will attract the right and serious customers for the company and will eliminate
unnecessary crowd from the environment. Further, below mentioned is positioning of the product
in the external international environment (Musonera, and Cagle 2019).
High Quality
Low Quality
High Prices Low Prices
HOSAX

Creating and Marketing New Products 7
(Source: By Author)
Augmented Decision
Augmented decision making refers to the process in which the computer or any other electronic
machine becomes companion and advisor for the user. The augmented decision making process
helps in taking decision based on fact and finding that they realize in the environment, the user
becomes dependent on the device to take decision under this process. This type of process is
used in the HOSAX tool as the tool analyse the environment and situation in which the user is
struck and then take decision on their part automatically. This innovation is new and necessity of
the product. People cannot themselves call for a cab or ambulance in an accident due to which
they require another person or artificial body to take decision on their part, this aspect will help
them to take decision when they are incapable of taking the right decision (Reeder, et. al., 2017).
Augmented decision-making process helps the customer in enhancing their work. This system
will help the people in the position when they need to take the decision, it will actively work for
them. This type of augmentation relies on the interaction of the human, rather than the
autonomous digital system. This system helps in increasing efficiency of the decision making
process. The augmented facility provided in the HOSAX is a cloud based system that stores the
information about their clients and uses it when it is needed. Thus, it should be noted that use of
augmented system in the product would successfully help the product to take the right decision
in the business environment. Thus, it can be said that this feature added in the specifications of
the product and made it more powerful to work as well (Pietro, et. al., 2017).
Business Model Canvas
Key Partners
 User
 Car
manufacturing
companies
 IT development
companies
Key Activities
 Software
development
Innovation
 Advertisements
and Marketing
 Online selling
Value Proposition
 Supplying
GSP tracking
services of
accident spot
to medical
Centre
Customer
Relationships
 Direct
contact
with the
clients
 High quality
Customer
Segments
 Independent
car owners
 Family
members of
car owners

Creating and Marketing New Products 8
 Online
application
developer
 Software
development
companies
 Healthcare
centre
 GPS tracking
 Feedback and
survey
 Quality check
(Wieland,
Hartmann, and
Vargo 2017)
 Relieving car
passengers
from waiting
for help
 Tracking
location and
storing
information
product
 Direct
selling
through
online
sites
(Fleisch,
Weinberg
er, and
Wortman
n 2015)
 Brand
Managem
ent
 Trust and
loyalty
 Easy,
approachable
and Customer-
friendly and
self-driven
product
 Car
manufacturers
Key Resources
 Software
developer
 Social media
marketing staff
 Open innovation
 Back office
employees
 Platform
 User generated
content
Channels
 Online website
of company
 Authorized
distributors
 Advertisements
 Social media
websites
 Car
manufacturers
 E-mail media
marketing
facilities
Cost Structure
 Open innovation cost
 Mobile application and website
developers
 Employees
Revenue Streams
 Sales of product online or offline

Creating and Marketing New Products 9
 Selling expenses
 Marketing and sales
 Logistics and supply chain
 Platform Maintenance cost
 Transportation and itinerant expense
 R&D expense
 Taxes and excise duties
 Employee wages
 Production and supply costs

Explanation
Key Partners involved in the process are the mainly car manufacturer and car users as well. All
the other people involved in the case are related to the internal process of the product
manufacturing. The other key people will help the company in creating the product. The key
activities for the organization involve innovating the product and developing the software to help
the accident victims. Along with this, marketing and sales, and quality check also becomes an
important part for the company. The value proposition in the product is derived from the
augmented decision making process of the device (Dudin, et. al., 2015).
Tracking locations, recording details and posting the healthcare centre for help is just another
specification for the product. The customer relation is maintained directly as well as online. The
company aims to provide high quality product that will automatically develop a relationship in
the environment. The prospective people who can purchase the product in the environment are
car manufacturers or car owners. Further, the product use online resources and software for its
development. Online channels as well as physical selling process would be initiated by the
organization to attain sales in the target market. Sales would only be attained through online and
offline modes present in the target environment. Lastly, the cost structure of the company
involves several factors that help in building HOSAX product in the target environment
(Antikainen, and Valkokari 2016). This structure includes, software development, marketing
sales, raw material optimization, logistics, sales etc. cost in the business environment. Lastly, it
should be noted that with the help of all the above mentioned resources and technologies the

Creating and Marketing New Products 10
business would be able to make the HOSAX product and present it to the customers in the target
environment (Teece 2018).
Conclusion
Thus, from the instances above mentioned in the paper, it should be concluded that the report
explained information about the HOSAX product in the business environment. This product will
help the people to notify the nearest hospital in case of an accident. This device will
automatically track the location of the car as soon as the air bags open and will call for help. The
report highlights the formation of the product along with target market and sales forecast for the
product. The positioning strategy and augmented decision making process for the company is
also defined that will help the management in explaining the need and importance of this type of
product in the business environment. The business model canvas has highlighted the details of
the product and how the company will work to grow and succeed in the external environment.
Thus, it should be noted that the product is expected to successfully grow and initiate satisfied
sales in the beginning year and increase its production and revenue in the subsequent years.

Creating and Marketing New Products 11
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mega. International Journal of Science and Technology, 5(12), p.624.
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Innovative Ideas in Engineering and Technology, 1(1), pp.14-22.
Dudin, M., Kucuri, G., Fedorova, I., Dzusova, S. and Namitulina, A., 2015. The innovative
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296.
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Creating and Marketing New Products 12
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