Detailed Report: Product Feasibility Analysis, Strategic Management

This report undertakes a comprehensive analysis of a product's feasibility, employing various strategic models. It begins with an executive summary that highlights key findings related to market relevance and competitive positioning. The report delves into the product's mission, vision, and strategic management, evaluating its life cycle stages and employing SWOT analysis to identify strengths, weaknesses, opportunities, and threats. Furthermore, it utilizes Porter's Five Forces to assess the competitive landscape and explores the product's approach to Corporate Social Responsibility (CSR). Strategic innovations, leadership roles, and legal considerations, including environmentally friendly practices, are also addressed. The report concludes by summarizing the product's relevance and potential for success in the current market, emphasizing the importance of strategic planning and adaptation.

REPORT ON THE PRODUCT

Report on The Product
Aim of the report
The aim of the report is to examine the feasibility of the product through different models. It
examines its feasibility through SWOT analysis and Porter’s five forces. BCG model even plays
an important role here.
Executive Summary
The report ponders upon its findings over me, as a product to judge its relevance in the
competitive market. Strategic management, mission, and vision are being discussed through the
report to follow my validity as per the preferred aspects. The report further evaluates that I am
much feasible through the model of SWOT analysis and Porter's five forces as the features of
mine help me to offer the assurance. My life cycle properly draws the outline of my features or
characteristics to grasp the market. Strategical innovation and implementation offer me much
advancement to secure my place in the competitive market where proper leadership plays a vital
role. I even share enough concern for legal aspects through the initiation of environmentally
friendly approaches.
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Report on The Product
Table of Contents
Introduction......................................................................................................................................4
Mission, Vision, and Strategic Management...................................................................................4
Introducing the life cycle.................................................................................................................4
SWOT analysis................................................................................................................................5
Strategy............................................................................................................................................7
Porter’s five forces...........................................................................................................................8
CSR..................................................................................................................................................9
Leadership......................................................................................................................................10
Conclusion.....................................................................................................................................10
Reference list.................................................................................................................................11
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Report on The Product
Introduction
The report will facilitate its findings over me as a product. In this discussion, it will state the
mission, vision along with strategic management for me. I will be judged through Porter’s five
forces and SWOT analysis to check my feasibility in the market. My life cycle will play a serious
concern in this regard. My initiation towards CSR even will be evaluated through the report with
strategically innovations and implementations in its proper place.
Mission, Vision, and Strategic Management
The mission of the product is to offer the best value to the customers by judging the core
activities of Siemens where it is offering some scopes to combine and develop the product to
extract the best value of it in market. The vision of the product is to produce the product in a way
that can address all the challenges in a way practising best innovation and creativity for it to
satisfy the customers. The vision is to serve the society through its characteristics irrespective of
the class of the society to make the mission successful. The strategic management regarding the
product evolves five diversified networks which permit the sharing for systematic information.
Further, innovative management strategy is obtained to focus on lead technologies, development
of quality products and most importantly, customer focus (Zijlsta., 2016).
Introducing the life cycle
The life cycle of the product can be divided into four different segments – introduction, growth,
maturity, and decline. The marketing professionals and management takes the help of this
concept to decide the proper timing of the launching of the product. The life cycle even helps to
decide when the product needs to be advertised or the time when the product price needs to be
reduced as per the market value. The product can be attracted through the packaging of it.
Thereby, the product life cycle offers an advantage to the product considering the time for
redesigning the packaging (Ng et al., 2018).
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Report on The Product
SWOT analysis
(Source: Phadermrod et al., 2019)
Strength
Technological advancement: the product is technologically much advanced to offer customers
the best service. This advancement helps the product to business better in a competitive market.
Innovation: The launching of the product along with the production of it exercises much
innovation in it as for the successful offering of the product needs to avoid all sort of negative
publicity where the product uses it in a positive way (Phadermrod et al., 2019).
Expanded market: The innovative strategy and better quality of the product helps the product to
acquire a better position in the market. Lower price comparing to the quality helps it to sustain an
extended market.
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Report on The Product
Safety: The product carries all the safety procedures for the product, which helps the product to
be preferable by the customer. The customers keep most concern for safety where the product
meets their demands.
Weakness
Supplier’s involvement: The product reaches to the market through the suppliers who are the
third party and does not closely or directly involve with the product. Thereby often it can be seen
there are some discrepancies from the suppliers' end affecting the supply chain severely (Bohari
et al., 2017).
Corruption: The present era is not completely clean, and corruption is everywhere. The product
even faces certain these sorts of issues in making and marketing of the product. Both internal
and external factors evolving politics in the company are responsible for this sort of corruption.
Opportunities
Further expansion of the market: observing the advancement of the product it can be assumed
that there are many opportunities for the product to expand its market in future. Customer
feedback can play a major role in this regard.
Strategic forwardness: The Company though has better strategies for the product still it has
options to invent more strategies to justify them or sustain the present changes (Gurel et al.,
2017). The up-gradation or further advancement can definitely secure a better result for the
company.
Better technologies’ acquisition: The product can adapt better technologies to offer further
advancement to it.
Better resources at a lower price: Resources play the most important role for any product.
Thus, the product can further research on better resources with a moderate price to make the
product more preferred for the customers.
Threats
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Report on The Product
Legal aspects: The government has different regulations and policies which a company needs to
abide by. These regulations often create a problem for the product to facilitate its business.
Economic fluctuations: The market does not obtain the same features for all the time it often
gets fluctuated for different reasons which can have a negative impact on the product to generate
its revenue.
Dependence: The product depends on the suppliers for its marketing and delivering. The
dependence often affects its production for untimely delivery or ignorance or negligence of the
product.
Inefficiency: In order to sustain the market demand the product is being manufactured by certain
inexperienced, inefficient, new workers, which can be a great threat for the product as it will
suffer from the quality issues soon (Basset et al., 2018).
Strategy
Segmentation, positioning and targeting: The market is segmented in different aspects where
the positioning of the product decides the cost-efficiency depending on the return revenue. The
target of the product as per the obtained strategy is to satisfy the customers by improving the
product with changing requirements of the market.
Customer analysis: For better marketing of the product, the company analyzed the prior
customers of the product to understand the future trend and to make the product in a way which
can serve the market.
Competitive advantage: The market is obtained by different companies with the same product.
However, the product makes it an advantage as the competitive nature of the market helps the
product to be better day by day.
Distributive strategy: The distributive strategy is taken to meet the needs of the market. The
product is serving a vastly expanded market where the distributive strategy is much needed to
address all the customers.
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Report on The Product
Brand equality: Brand equality is a strategy through which the company maintain between all
manufactured products to sustain its rank in the international commercial market.
BCG Matrix: The product is being judged through the BCG matrix, which helps the product to
be judged with the matrix of growth, maturity and decline (Bobocea et al., 2016). The evaluation
helps to understand the validity and reliability of the product.
Porter’s five forces
(Source: Aithal et al., 2016)
Competitive market: The Company has multiple relevant and close competitors in the market.
For an international company, this is a common factor to have such competitors (Mathooko et
al., 2015). However, the company uses the competition in a positive way as the product acquires
all sort of advancement in moderate price to sustain its position in the changing market.
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Report on The Product
Customers’ bargaining power: It is a habit of the customers to bargain before buying a product.
The bargaining attitude of customers is an important factor for the product. The product,
however, is carrying such a moderate price that most of the customers do not feel like to bargain
for such a low price noticing its offered features (Aithal et al., 2016).
Suppliers’ bargain: A huge number of suppliers are involved with the product for delivery or
supply. Further, there are many suppliers who supply raw materials for the product (Takata.,
2016). The suppliers are, as an important part of the company, thereby the product needs to take
or carry a concern for them to make them satisfied with the product.
The threat of new entrants: The market is an open platform any company thereby risk from
new entrants can occur any time. The product, however, makes itself much power to fight with
these sorts of issues as it follows the changes or transformations in market trend. Following
those, the product changes it as per the market requirements (Mathooko et al., 2015).
The threat of substitutes: The market even carries substitute products to project threat for the
referred product. For this issue, the product obtains a better strategy as it carries a moderate price
which can be affordable for everyone and thus can justify its relevance in the market. The
company is strategic in this regard as they know that quality and price are the main two things
for a customer (Zhao et al., 2016).
CSR
Every product as a part of a company needs to justify Corporate Social Responsibility (CSR) to
be under regulations. In this regard, the product maintains its social responsibility by satisfying
certain aspects:
Lower pollution: The product obtains such a manufacturing procedure, which consumes lower
pollution during the procedure to retain the balance of the environment.
Recycle: In order to reduce the pollution level and retain the balance of the resources the product
uses the recycled products in its manufacturing process, maintaining quality (Dias et al., 2016).
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Report on The Product
Moderate price: According to CSR, a company needs to serve all ignoring the class distinction.
In order to sustain the responsibility, the product carries such a price level, which can be
affordable for everyone. Through this strategy, it serves everyone irrespective of class, poor or
rich.
Leadership
Product launching or manufacturing, along with proper marketing, needs a proper leader to
facilitate all the process. For the referred product marketing, a leader needs to take the initiative
to monitor its manufacturing process to serve the customers best. The leader even needs to be
careful about the market trends as required changes need to be done accordingly. The leader
further needs to maintain a good relationship with all the suppliers to avoid any sort of
discrepancy. He needs to take every initiative to maintain a personal relationship with everyone
as the strategy will help to secure better productivity in the workforce. Most importantly, the
leader needs to acquire knowledge from past failure or experiences for better marketing of the
product.
Conclusion
The report properly judges all the aspects of the product. In the justification process, it is being
found that the product is much relevant as per the recent market trend. The product life cycle
sustains the mission, vision, and strategic statement of the company as it properly clarifies all the
characteristics of the life cycle. Through the SWOT analysis of the product, it is being found that
the product has better strength and opportunities for marketing compared to the weakness and
threats. Looking at the weaknesses and the threats, it can be understood that the referred aspects
can be overcome. Different types of the strategic invention offer the product a better scope for
marketing. Through porter’s five forces, it is even justified that the product can successfully fight
with all the obstacles securing its position in the market. The product reasonably plays the CSR
in its part by the proper leader. Following all the aspect of the product, it can be said that the
product is much feasible for the company to offer great revenue through its marketing features.
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Report on The Product
Reference list
Abdel-Basset, M., Mohamed, M. and Smarandache, F., 2018. An extension of neutrosophic
AHP–SWOT analysis for strategic planning and decision-making. Symmetry, 10(4), p.116.
Aithal, P.S., Shailashree, V. and Kumar, P.M., 2016. Application of ABCD Analysis Framework
on Private University System in India. International Journal of Management Sciences and
Business Research, 5(4), pp.159-170.
Bohari, A.M., Hin, C.W. and Fuad, N., 2017. The competitiveness of halal food industry in
Malaysia: A SWOT-ICT analysis. Geografia-Malaysian Journal of Society and Space, 9(1).
Dias, A., Rodrigues, L.L. and Craig, R., 2016. Global financial crisis and corporate social
responsibility disclosure. Social Responsibility Journal, 12(4), pp.654-671.
Gürel, E. and Tat, M., 2017. SWOT analysis: A theoretical review. Journal of International
Social Research, 10(51).
Mathooko, Francis M., and Martin Ogutu. "Porter’s five competitive forces framework and other
factors that influence the choice of response strategies adopted by public universities in
Kenya." International Journal of Educational Management 29, no. 3 (2015): 334-354.
Ng, E.H., Nepal, B., Schott, E. and Keathley, H., 2018. MANUFACTURABILITY AND THE
PRODUCT DESIGN: CASE STUDY EXPLORATION OF MANUFACTURABILITY
ASSESSMENTS ACROSS A PRODUCT LIFE CYCLE.
Phadermrod, B., Crowder, R.M. and Wills, G.B., 2019. Importance-performance analysis based
SWOT analysis. International Journal of Information Management, 44, pp.194-203.
Takata, H., 2016. Effects of industry forces, market orientation, and marketing capabilities on
business performance: An empirical analysis of Japanese manufacturers from 2009 to
2011. Journal of Business Research, 69(12), pp.5611-5619.
Zhao, Z.Y., Zuo, J., Wu, P.H., Yan, H. and Zillante, G., 2016. Competitiveness assessment of the
biomass power generation industry in China: A five forces model study. Renewable Energy, 89,
pp.144-153.
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Zijlstra, S., 2016. A 4D modeling method to visualize how asbestos affects construction projects
(Master's thesis, University of Twente).
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