New Product Strategy: Personal and Professional Development Analysis

This essay delves into the crucial role of personal and professional development in shaping individual and organizational success, particularly in the context of new product development. It examines ST smartphone company's strategy for launching a new product, emphasizing cost leadership and product differentiation. The analysis covers the company's decision to enter the Indian market, highlighting the importance of market analysis and pricing strategies. Furthermore, the essay addresses two key issues faced by ST company: marketing challenges and financial investment concerns. The conclusion underscores the significance of personal and professional development skills in navigating new markets and implementing effective product strategies, as demonstrated by ST company's approach.

PERSONAL AND
PROFESSIONAL
DEVELOPMENT

TABLE OF CONTENT
 INTRODUCTION
 MAIN BODY
 Strategy for new product
 ST smart phone company's market selection to launch their
product
 Two main Issues faced by ST smart phone company
 CONCLUSION
 REFERENCES

INTRODUCTION
 Personal and professional
development allows person and
organization to involve in the
process of challenging and
learning, it allows them to
accomplish their future goals.
 These skills help individual and
organization to shape their
future in a effective manner.

MAIN BODY
Strategy for new product
 Cost leadership strategy is
the key beneficial strategy which
organization can start with to
launch their product in the
market.
 By using this strategy company
can limited their investment, or
they involve the cheapest
manufacturer for their product,
so they can utilize their asset on

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 CEO of ST mobile company wants their
employees to involve product
differentiation strategy in the development
of their new product so that customers can
easily differentiate their product from
other company's product.
 Yes the decision taken by CEO is good as
it includes the strategy which can reduce
the cost price which can be easily
affordable to customers as customer only
look into those products and services
which are affordable and cheapest for
them.

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 Strategy for the development of the product of ST company
includes pricing strategies which was included by their
CEO.
 Pricing strategy allows them to set different and affordable
price range with the unique qualities of their product so that
it can offer many choice to the customer.
 Yes the message from CEO was good in every aspect for
the growth of their company in their market field.

ST smart phone company's market
selection to launch their product
 ST company's main product is smartphone for
that purpose they have collaborated with
many international software brand to increase
the values in their product.
 As the nature of smartphone market is always
dynamic everyday new product has been
introduced to develop the image of their brand
ST company needs to introduce their product
in new market so that it will cover wide range
of new customers
 Company is running successfully from the
past nine years they have gain experience in
dealing with international smartphone market.
Thus the company is more adequate in their
working environment.

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 For the growth of their brand St
company decided to enter into the
international smart phone market
for that they have chosen an India
country to expand their brand
value.
 Before entering into new market
company has analysed all market
environment of new country so
that it will be easy for them to deal
in new market.
 Company included new
technologies in their strategy for
the development of their product.

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 ST smart phone company needs to develop their product which are
unique and valuable from other rivalry company's in new market.
 Pricing strategies also gives unique quality cost range product so that
new customer can easily buy their product according to their needs.
 Yes the market selection of ST company was good they select Indian
market as the number of user in India are more so it will ultimately
increase the brand value of company.

Two main Issues faced by
ST smart phone company
 Every company has to face
issues regarding their growth,
revenues.
 Every company required new
invention and innovation in their
product to remain successful in
their market field.
 After successfully entering into
new country's market ST company
is facing issues in their marketing
process or in their financial
statement of the company.

 Marketing issue:
 Marketing always plays a
crucial role for the promotion of
product and services of any
company.
 Marketing involves various
channels through which companies
can promote their product it
involves analysation of customer's
buying behaviour.
 ST smart phone company after
successfully entering into the Indian
market now facing issues regarding
their marketing policy.

 Financial investment issue:
 Financial statement of
the company describes the
company's complete financial
image.
 It shows the net profit earn by
the company in their marketing.
This net profit is the final asset
that is save after paying all
expenses.
 As ST smart phone company is
new in international market
they are dealing with many
challenges because they are
entering in new market
environment.