Justification Report

Justification Report

Introduction

The research is the key point in the marketing concepts, because without proper research organizations cannot achieve targets of manufacturing new products. There are several factors to consider such as proper target, goals, costumer requirements and needs, because, without these factors marketing is not good. We can understand concepts of marketing that customer's needs should be satisfied. In order to keep long term relations with the costumers' future needs should be identified.

There are three components in the process of marketing. The marketers, the things which are marketing and the target to achieve marketing are the three elements and the things to focus before marketing, are needs, products, wants and demands.

Discussion

Technology is advancing every day as each day brings new ideas, revolutions and inventions. As we all know, when technology develops, and advances there are also problems associated with the advancement .There are various challenges, which your company is facing today because of numerous risks associated with technology. Entering into the communication world, and introducing a number of technologies has put your company into a number of competitive challenges. There are a number of hurdles which the company has to face and find solutions of these problems. These problems may due to the competitors, rivals who introduce reasonable costs technologies, and potential substitute products which give challenged to apply computers. It is easier for anyone to see the effects on the entire society, and how something affects the lives of the people in the society. The competitors have also varieties of strategies, which challenge your Company for launching each new product. There are always rapid changes in the industry of technology, and entertainment. Your organization has to sustain the reputation by launching new products after each short interval. Stakeholder's demands are also the key issue to manage by your Company with the growth of company's reputation. Fulfillment of expectations of customers, managers, partners, share holders, investors and suppliers put enormous stress on the management team of your Company. Your Company is sometimes at risks if there is no proper management plan, because of these problems. The continuous success of our company is due to control on these strategic challenges, and overcome on these risks.

If we consider the last product, it has many complains. These things should bring into notice for the very first step. The last product “Iron Pad” has few complains such as circuit short, improper IC, large transistors and size. There is an introduction of Iron Pad-2 which brings same features of Iron Pad but with more advancement. This product is more time saving that Iron Pad. A typical iron Pad takes around 1 to 2 minutes to iron a medium size shirt, whereas, this innovative product would iron the same cloth with less than a minute. The concept behind this idea is to provide convenience, ease and quickness when ironing clothes. The two basic raw material inputs of this product are Aluminum sheet and polypropylene plastic. There are other equipments including, a water pipe made ...