Product Innovation Management Report

This report discusses the challenges and strategies in product innovation management for autonomous vehicles aimed at assisting handicapped individuals. It covers production issues, quality checks, and market entry strategies, emphasizing the importance of rigorous testing and supplier selection. The report concludes with a recommendation for launching the product in an untapped market, highlighting potential financial and social benefits.

UNIVERSITY NAME
Student’s name
Student’s ID
Product innovation management

7.0.0 Production, Potholes and Call to Action
7.1.0Production and manufacturing issues
7.1.1Design/intellectual property
The company should ensure that it correctly patent the product such that it doesn’t make it easy
for competition to manufacture almost same product and remain within the law. When this
happens customers may fail to notice nuTonomy’s product thus pose a marketing and sales
challenges in future. (Gong, Shen & Du, 2016)
7.1.2Production/manufacturing
The company might fail to carry out extensive quality checks that will ensure the product is
durable and suitable for all the market terrain due to its tight timelines. It takes time to be able to
get real test of the product as subjecting it to various quality tests take time. (Vantsevich, Howell,
Vysotski & Kharytonchyk, 2003)
7.1.3Supply
The company runs a risk of not obtaining the most suitable suppliers in the market due to
inexperience with the market as the product is still new and the company does not have extensive
knowledge in terms of reliable suppliers in the market. To be able to truly know this takes time
as the company engages in business and gets to know which supplier will do well for them. (Van
der Westhuyzen & Van der Merwe, 2001)

7.2.0 Potholes and contingency plans
7.2.1Expected effects matrix
Potential
damage
Likelihood
Occurring
Noticeable Harmful Devastating
Low Know-how in
operating the
product by the
consumers
Product not flexible
enough to accommodate
diverse type handicap.
Defective products
Moderate Challenges in accessing
foreign markets.
High Competition from
other manufactures
To ensure that the above expected effects are brought under control, the company should ensure
that it has rigorous quality checks that make sure each product released to the market meet the
expected standards as set out product specification to mitigate on defective product defects ward
off competition. Customers should also be offered training on how to operate the special vehicles
to ensure that they know how to operate them. On accessing foreign markets, the company
should make use of Singapore embassies in their target market to assist with market penetration.
All the products should also be flexible enough to accommodate various functionalities suitable
to people handicapped differently.
7.2.2 Main assumptions
 I have made assumptions that there is enough market for the product to ensure that sales
or revenues realized are able to sustain the company in business.
 I am also assuming that product has enough functionality that would accommodate
various people who are handicapped in diverse ways.
7.3.0 Summery and call to action

In conclusion, I recommend that the management of nuTonomy go ahead and launch the
autonomous vehicle for the handicapped in the market. This particular market is not saturated in
Singapore and there is still the global market which also remains largely untapped. The company
is likely to benefit financially considering the fact the product under consideration is relatively
new in the market and has not great competition form established companies. Therefore any
company that ventures into this business will still be relatively new thus having no meaningful
competitive advantage over others. The company would also get non-financial benefits by way
of receiving goodwill from various governments and organizations that champion for the rights
of the less privileged in the society. (Liu & Schiraldi, 2009)
References
Gong, S., Shen, J., & Du, L. (2016). Constrained optimization and distributed
computation based car following control of a connected and autonomous vehicle
platoon. Transportation Research Part B: Methodological, 94(1), 314-334.
http://dx.doi.org/10.1016/j.trb.2016.09.016
Liu, T., & Schiraldi, P. (2009). New Product Launch: Herd Seeking or Herd
Preventing?. SSRN Electronic Journal, 1(1), 1-11.
http://dx.doi.org/10.2139/ssrn.1352564
Van der Westhuyzen, B., & Van der Merwe, J. (2001). The marketing mix.
Observatory, South Africa: Future Managers.
Vantsevich, V., Howell, S., Vysotski, M., & Kharytonchyk, S. (2003). An integrated
approach to autonomous vehicle systems: theory and
implementation. International Journal Of Vehicle Autonomous Systems, 1(3/4),
271. http://dx.doi.org/10.1504/ijvas.2003.004371