New Product Development and Employee Acceptance in Business Management and Marketing

Business management and marketing

Business management and marketing:
Contents
Introduction...........................................................................................................................................2
New product development.....................................................................................................................2
Employee accept the proposal of a new product....................................................................................3
New product affecting the company environment.................................................................................5
Threat of Competitors............................................................................................................................6
Conclusion...........................................................................................................................................10
References...........................................................................................................................................11

Business management and marketing:
Introduction
Product is the life-blood of the organisation. New product creates new value for
customers, improves the society, and enables continuous existence of the company. To have
successful product launch, an organisation should make strategic plan of how the new
product cope up with internal and external factors. After identifying the available resources, a
strategic plan focuses to exploit the available opportunities (Tantalo, & Priem, 2016). If the
product does not offer new value to customers, the firm will eventually die. Due to new
product development, the customer has wider choice of products available to them. The
existing market does not lack products. However, each time, product offerings are improved
to satisfy customers. In this report, Nestle has been launching a new product, which is a gym
juice in order to increase the market share and overall turnover. The purpose of Nestle is to
establish its brand and meet the demand of large number of customers. The aim of new
product development process is to cater and fulfil the needs and demands of market
segments, which are niche. Employees figure out a way to solve the problems faced by the
customers. Hence, they search for an idea that can meet the needs of customers.
New product development
New product development is the process of introducing and bringing new product in
the marketplace. The need to develop new products can be due to changes in the consumer
preference, increased competition, and new technology. Innovation in business is crucial
because of changing market needs. Numerous new ideas are identified which can fulfil the
demand of the people. Hypothetically, for developing new product and launching it in the
market nestle is choosing gym juice as a product. Development of new product requires
identifying target audience (Thrassou, Vrontis, Chebbi, & Yahiaoui, 2012). Before launching
any product, the organisation undertakes market research for identifying target audience.

Business management and marketing:
Another important research technique is brainstorming where creative thinkers from outside
or inside the organisation helps in product development. Nestle must have analysed various
marketing environment analysis such as SWOT and pestle analysis. When nestle launches its
new product that is a gym juice, Nestle should communicate to chefs, employees who will
assist in the production of new product. The content should be nutrients rich that can attract
the most customers. The chefs may give sample of a unique gym juice consists of high
protein, vitamins, and minerals (Anderson, 2008).
Employee acceptance the proposal of a new product
An employee should have strong product argument that can support every new idea of a
product. The employee should have good communication and presenting skills. The product
idea must solve any problem of the consumers and have the ability to generate maximum
revenue. The product launching should have relevant reason that can meet the demand of the
people. The presentation in the meeting should define the target audience, and develop
marketing campaign methods to reach the target audience. The employees can incorporate a
set plan for a product presentation (Saeidi, Sofian, Saeidi, Saeidi, & Saaeidi, 2015).
Moreover, the managers seek how product launching will benefit them and the company.
Preparing to introduce and launch new product, it is crucial undertaking for any business. The
company has to invest considerably huge time, money, and resources to develop a new
product. A strong internal communication is important for new product launch.
Communicating the product to company employees make them responsible to help the
workers to increase productivity. The presentation can have two sessions-
 First session can outline the market research that inspires new branding strategy
(Rothaermel, 2015). Market research gives critical information and direction. It