Analysis of Taira Inc.'s New Electric Car Development Project

This project report details the new product development of an electric car by Taira Inc. It covers the innovation management, focusing on the environmental benefits and market positioning of the electric car. The report outlines the product's features, target customer profiles, and test market strategies. It also examines brand strategy, including differentiation and packaging. The product launch plan, scheduled for July 2018, is detailed with a focus on social media and technology. The conclusion highlights the competitive landscape and Taira's strategic approach. A self-reflection section discusses challenges faced during development, such as sourcing raw materials, and offers insights for future improvements. The report includes a comprehensive list of references supporting the research and analysis.

New Product
Development
Electric Car

Introduction
 The innovation management plays the
vital role to introduce effective product
within the market
 In the present world decreases in oil
refinery causes a huge damage to the
environment as well as for running vehicle
 Company introduce electric car to fulfill
the environmental degradation
 The organization main aim is to gives the
superior quality of product to the market

Product
 Electric car is the new product that is being
developed by Taira Inc.
 This new electric model of Taira offers 260 to
340 miles of a range and having a speed of 2.2
to 4.1 second at 0-60 mph
 The idea generated because it gives profit to the
environment
 The product is eco-friendly and also it can fulfill
all the needs of the people

Customer profile
 Market is divided into different group depending on the needs of the
customer
 People those who love traveling in various parts of the nation is the
primary target
 They targeted the people in ages between 20 to 55 years which
included male, female and the aged person
 Secondary target market is the people those who want the car for
fuel efficiency

Test market
 Company provide demo version or the
test drive of the product
 Providing effective test drive and
marketing the company is able to
understand the reaction of their
customers
 The organization also made the
competition with the Tesla Model 3 and
Chevy Bolt to show the development
of their new model in the market

Brand strategy
 It is essential for Taira to improve their brand strategy for the new
electric car within the market
 It help to improve the customer’s loyalty towards the organization
 The business strategy that is being followed by the firm in the market
is differentiation
 The product have the facility which allow people of various age to
drive the car

Packaging
 Taira is providing the superior quality of an Electric car with various
facilities in the market
 The entire package is for the effective working function of the firm
 The employees are also providing suitable working function
 It allow the organization to deliver their product within the market in
the most effective way

Product launch
 The launch of the product will take place on 7th of July in the year 2018
 The organization used the social media along with the various advanced
technology to implement the launch
 Mass communication and campaign is being done to maintain the activity of
product launch

Conclusion
 The product is electric car which is most efficient model in the market
 The organization is providing the most suitable brand strategy to
improve their product market
 The level of competition is high but Taira is providing their best in the
market

Self-Reflection
The idea of electric car is not new as there are various organization which
provides this car but I am developing an electric car that is superior in quality of
other cars. For developing this product I have to face various issues regarding
the development of the product. The primary thing that is went wrong with the
development of the product is to get good quality of raw material that also
within the reasonable price. If I get suitable chance to develop this product once
again then I would definitely make it more effective and provide powerful
battery so that consumers do not have the face any kind of problem in the
middle of the road. The making of effective plan for the product development
helps me to understand the process for developing the product. In future this
experience would help me to further develop the better and the suitable product
for the market which is consumer effective for the firm. This is one of the best
experience that I have got from the planning of developing a new product in the
market which also help me to understand the basic requirement of the raw
materials and to develop them within the market.

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