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THE NEW SMART PHONE DEVELOPMENT PROCESS

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Presentation on theme: "THE NEW SMART PHONE DEVELOPMENT PROCESS"— Presentation transcript:

1 THE NEW SMART PHONE DEVELOPMENT PROCESS
PHASE 3 INDIVIDUAL PROJECT KENNETH C HOLMES MKTG B-03 PROFESSOR GENE TOPPER June 8, 2015

2 IDEA CREATION MM’s mobile phone market entry
Apply quantitative research Apply qualitative research Encourage everyone’s participation Mentor application MM’s mobile phone market entry: When MM started out in the early 90’s, they had their share of success with designs that fit the cell phone landscape at the time. Since there were only two research methods available, MM likely used both quantitative and qualitative research, along with research team brain storming, to come up with new ideas and technologies appropriate for the consumer markets. Both methods are defined below. Apply quantitative research: MM could apply quantitative research to acquire numerical and statistical data, and answers question regarding: age, income, price, market size, MMs market share and penetration, consumer perception and awareness of MM’s brand and products, and more. The data is usually gathered through highly structured surveys, questionnaires or experiments, and include multiple choice or rated scale questions. This information proves quite useful for visual presentations, analysis, comparison, stating a conclusion, and proving an assumption. The information can be easily performed by a research consultant, or obtained through an on-line research firm for a price, or can be performed by the MM research team. (Worpress.com, 2011). Apply qualitative research: MM could also utilize qualitative research to acquire information about attributes and qualities involving the consumer’s perception including: how the phone looks and feels; is the phone practical, convenient, and easy to use; what features are desired by the consumer; and so on. This method uses personal interviews, focus group responses, and personal observations. The information gathered can be turned into quantitative data by encoding it with numerical values (Worpress.com, 2011). This method provides the full visual of what the consumer wants and needs in a cell phone product, will help MM understand the consumer motivation, and will help MM design and produce the perfect product for their target markets. This method can be accomplished using professional services for a price, or can be performed by the MM research team using focus groups or questionnaires (Explorable.com, 2009). Note: In recent years, research and development have turned to technology for idea and design generation. New technology now includes everyone in the process, with a series of techniques that prove very effective, and better for both the consumer, and MM. Everyone’s participation: For Mobile Manufacturing, this means encouraging employee, customer, and supplier input, and expands the pool of potential ideas from just a marketing perspective, into a more powerful everyone included perspective. Examples include (Tucker, 2014): Implementation of “the cell phone, and accessories that meet your needs” campaign. This idea would entail MM employees to go to shopping malls, retail stores, local schools and colleges, hospital, or any applicable establishment or institution and ask consumers: How do you use your cell phone?; What features would you like to see in a cell phone that you have not seen yet?; what product could MM offer to sway you to purchase an MM product? The questions would be simple, impromptu, and not require complicated questionnaires. The information provided would entered into MM’s data base to determine if MM has missed any market opportunities, and enable the MM research team to design and produce the product to fill that market need. Establishing an in-house employee intranet site. The site would be used to encourage employees to submit: new product suggestions, new applications, or innovative new ways to use them; how to improve consumer interest in MM’s product line, and so on. Establishing an MM on-line blog. The blog would enable current customers and consumers to share their experiences and ideas about cell phones with other consumers and the MM design team. The blog will help MM detect changes in market direction, if MM’s product positioning should be changed, and so on. The blog would be monitored by an in-house researcher on a weekly basis, and potential solid ideas would be sent to the research team for evaluation of its market potential. On-line blogs are quickly replacing focus groups, and are less costly to implement. MM could employ using groups of indecisive consumers. In this case, each group member would be provided a sample of the new product, and MM would study and analyze the consumers response to the product. This method would answer questions including: Is the phone too feminine or masculine ?; Is the phone too simple?; are there sufficient features?; Is the phone sleek enough?; Is the phone light enough?; and so on. This method would provide potential ideas for product enhancements, or a new phone design. MM could tap into the consumers unmentioned wants and needs. In this case, the consumer would be asked to describe their image of the perfect imaginary cell phone, and accessory for them. Their responses would be documented and evaluated by MM’s research team, and may result in design improvements, or an entirely new product. MM could tap into potential new customers. In this case, MM would determine the needs of previous and future customers to enlarge their customer base, determine the potential consumers image of the perfect cellphone, and potentially result in phone enhancements, a redesign, or an entirely new cell phone. The intention is to entice the potential new customer to purchase an MM cell phone product. MM could include their suppliers by encouraging their input and suggestions. MM would ask their suppliers questions including: Do you carry components made from recycled and sustainable materials?; Do you carry components with technologies we have not considered?; and so on. Including the suppliers would potentially enhance the technology and quality of MM’s cell phone product line, enable MM to fulfill their promise to manufacture using recycled and sustainable materials, and improve MM’s vital relationships with their suppliers. Mentor application (Tucker, 2014): To accomplish this, MM would educate and train idea mentors on the newest idea generation techniques. This would be accomplished through on-site training and skills improvement, webinars and seminars, and by providing the latest documentation. The mentor would be used to teach those techniques to other employees, and infuse fresh energy to the process. The application of these methods will help MM improve their product innovation and quality, improve their relationships with their employees, customers, and suppliers, and help make them less vulnerable to the competition.

3 IDEA SCREENING Determine the standards for judgement
Ensure alignment with MM’s product strategy and values Determine the ideas feasibility and market potential Ensure it is the best option Ensure access of resources The new smart phone Determine the standards for judgement (Vellandi, 2007): For MM, this means choosing product and innovation ideas that meet the following requirements: meets the consumers requirements for features and applications in a cell phone; applies the most current and upcoming cellular technology; result in high quality and durability; meets the target cost to manufacture; reduces the cost to manufacture; provides a competitive edge over the competition; and fills a market need. Ensure alignment with MM’s product strategy, and values (Vellandi, 2007): For MM, this means the idea or innovation must: provide the latest or upcoming cellular technology; be of high quality and durability; use environmentally friendly and sustainable materials; be appropriate for the target market; be cost effective to produce and sell; can be manufactured and delivered quickly to meet sales contract agreements; can potentially enhance production speed and delivery; and provide a competitive edge over the competition. Determine the ideas feasibility and market potential (Vellandi, 2007): For MM, this means the idea must result in: a cellular product MM is has the capacity and resources to produce; can potentially reduce MM’s production cost without a reduction in quality; and fill any gaps in the marketplace. Ensure it is the best option (Vellandi, 2007): For MM, this means the idea must: meet the purpose, goals and core values of MM; fills a need not currently met; provide a cell phone product that is equal or better quality and technology than the competition; can be manufactured at a compatible or lower cost; can be sold at a compatible or lower retail price; produces a cellular product or innovation that separates MM from the competition; and enhances the current cell phone line. Ensure access to resources (Vellandi, 2007): For MM, this means they must secure contracts to obtain, and maintain the necessary recycled and alternative materials to ensure a sufficient supply line to meet the needs of production, and secure contracts with shipping services that use environmentally friendly and efficient vehicles. Note: It is important to consider, when an idea is being considered, if the idea fails to meet several of the screening requirements, it can either be eliminated or shelved for future analysis. The new smartphone: The new smartphone meets the most important screening requirements including: the phone meets the requirements of the teen and parent market segment; is compatible or better than products offered by the competition; can be produced and retailed at a cost and selling price compatible with that of the competition; and is made from environmentally friendly materials.

4 CONCEPT DEVELOPMENT AND TESTING
Purpose of concept development and testing The six steps in concept development Methods of concept testing Purpose of concept development and testing (Stephensanity, 2010): Concept development and testing are important processes for MM to apply, and invest in. Concept development generates the pool of ideas for MM to address, and concept testing establishes what the consumer desires or sees as the perfect cell phone, and enables a complete analysis of all the desired qualities prior to the phones market debut. Concept testing is necessary because it provides MM the opportunity to enhance and streamline the cell phone to make it more marketable, provides MM a clear vision of the features most appealing and necessary to the target consumer, provides MM with options to create variations of the phone, and assists in determining the most appropriate design, advertising and promotional materials, avenues of distribution, and the ideal price for the target market. It must be clear that both concept development and testing are inexplicably tied together, simply put, one does not function without the other. If concept development is used without concept testing, the results will could prove financially costly and disastrous for MM’s brand and reputation. The six steps in concept development (Stephensanity, 2010): Establish the real purpose of the project: This step enables MM to redesign an existing phone and make it new, design a new phone that will beat the competitions, or give an existing phone design a new face and a new life. This step also enable MM to conduct the appropriate research, and refine the idea to provide real solutions. Determine the goal of the project: This step enables MM to determine the standards by which the concept must meet based on the essential features, and the consumers vision of the ideal phone. The standards established will be used to evaluate all proposed concepts, and will determine the concepts to be accepted from this point on. Generate many ideas based on research: This step enables MM to come up with as many ideas as possible to provide potential solutions. It is import to understand the ideas are just that, ideas, and the only bad idea is no idea. Reduce to the top five proposals: This step enables MM to eliminate ideas that do not meet the project standards, and reduce the number of ideas to up to five that best fit the established standards. Refine and repeat the top five: This step enables MM to streamline and improve the remaining ideas, to refine the standards, and reevaluate the ideas to ensure they meet the established standards. Refine and reduce to one ideal proposal: This step enables MM to make more refinements to the top five, and reduce the number of prosed ideas to one idea that encompasses the best of all the ideas. This step also permits MM to establish several proposals that meet all the standards, and all the best ideas, as potential backups. Methods of concept testing (Qualtrics, LLC, 2015): Reaction and Adoption test: This test enables MM to determine the features essential to the consumer, determines the consumers priorities for the phones creation and advertising, and helps MM analyze the consumers attitude toward the concept. Product Modification or Upgrade Test : This test enables MM to is used to make changes to an existing product, resulting in an upgraded or entirely new product that will be perceived as new by the consumer. Migration Path Test: This test enables MM to determine the features and benefits desired by the consumer, help determine the necessity of the features and benefits, and direct MM to determine whether to upgrade the current design or design a new phone with improved technology, based on the cost to MM. This test will help MM determine if the changes are practical based on: improved features and benefits for the consumer; improvement of the brand and its image; acceptable cost or cost reduction; and so on. Product Usability and Serviceability test: This test enables MM to determine if an existing phone can be enhanced to improve the consumers experience, and analyzes: whether the phone is easy enough to use; what features are used and how often; ease of implementing new features; and whether changes will improve the phones image and serviceability. Pricing and Incentives test: This test enables MM to determine the ideal: cost for MM; retail price for the consumer; contract agreement that is most agreeable for the consumer; and warranty that is acceptable for both MM and the consumer.

5 MARKETING STRATEGY Target market Smartphone name and tagline
MM’s new advertising tagline MM’s new logo MM’s new slogan MM’s new packaging Target market: The target market for the new smartphone are pre-teens, teenagers (ages 10 to 20), and their parents. The target income bracket includes middle class with incomes from $25,000 to $100,000, and upper middle class with incomes up to $250,000. The target market includes all races and ethnicities. No other demographic should have any bearing on a phone, since communication never discriminates. Smartphone name and tag line: The name of the new smartphone is “THE HIPSTER”, because today’s pre-teens and teenagers want to be the hip and trendy 25 year old. The phones tagline is “the smartphone for the young, hip, and trendy”, which fits their aspirations, addresses all they desire in a smartphone, and does so using environmentally friendly and sustainable materials. MM’s new advertising tagline: MM’s new tagline is “The environmentally friendly cell phone company”, which conforms with MM’s commitment to environmentally friendly and sustainable production. MM’s new logo: MM’s new logo is (a cell phone and a green leaf), as shown on this page. Cell phone logo courtesy of (Bing Images.com, 2015). MM’s new slogan: MM’s new slogan is “Cell phones and accessories made with our commitment to preserving and protecting our natural resources for future generations”. MM’s new packaging: The packaging of the new smartphone will be a simple brown box, made of 100 percent recycled paper, with Mobile Manufacturing’s the new advertising slogan “Cell phones and accessories made with our commitment to preserving and protecting our natural resources for future generations”, and the new logo (a cell phone and a green leaf), with both labeled on the box. It is MM’s hope that the new packaging will appeal to the target market, and drive home MM’s commitment to conservation, and preserving our natural environment for future generations.

6 BUSINESS ANALYSIS SWOT analysis Internal measures External measures
Consumer measures Environmental factors SWOT analysis: Application of a SWOT analysis will enable MM create a solid business strategy by ensuring they have determined all of their strengths and weakness, and all opportunities and threats they will encounter in the marketplace (Berry, 2015). Strengths: A solid new product for market introduction. Has 25 years of experience in cellphone manufacturing. Ready and prepared to reinvent themselves. MM is ready to develop a new line of cell phones and accessories to compete effectively with their competition. A strong commitment to protecting and preserving the natural environment. Weaknesses: MM only has a 10 percent market share. MM must reinvent themselves to compete in today’s marketplace. Opportunities: For MM to reinvent and reestablish themselves as an industry leader. For MM to develop an entirely new line of cell phones and accessories to compete in the today’s marketplace. Threats: Their competition currently has a strong product line and market share. Their competition may have new technology and products ready to launch. Internal measures (Pearson Education Inc., 2015): Employee awareness and commitment to MM’s values and goals. Employees desire to learn new skills and willingness to change. MM’s access to adequate resources, both employee and materials. MM’s staffing levels. External measures (Pearson Education Inc., 2015): The percentage of consumer awareness of the MM brand and their products. MM’s percentage of market share. MM’s relative price structure compared to the competition. Number of customer complaints. MM’s total number of current customers. MM’s sales goals percentages vs desired and required percentages. Customer measures (Pearson Education Inc., 2015): Percentage of new customers to average number of customers. Percentage of lost customers to average number of customers. Percentage of win-back customers to average number of customers. Percentage of customer satisfaction at various levels. Percentage of customer who would repurchase and MM product. Percentage of target market consumers with MM brand recall. Percentage of customers who prefer the MM brand. Environmental factors (Pearson Education Inc., 2015): Demographics: Factors that pertain to human population statistics including: age, income, household status (single, married, children), occupation, ethnicity, population size and density, and any statistic relevant to market segmentation. The facts are: that the U.S. is facing reduced birth rates and longer life expectancies; There is an increasing number of people working from home; There is an increasingly white collar workforce; There is a larger population of disabled people; and an increasingly tech savvy population of all ages. Economic environment: Factors that pertain to the economics a country, specifically the U.S., and affect consumer purchasing ability, and spending habits. The fact are: Consumers are forced to be cautious with their disposable income; Value Marketing, which offers the consumer the most value for their money, is a major trend; There is a serious unequal distribution of income between the classes; Most consumers spend their income on food, housing, and transportation; and there is a two-tiered market, the affluent and the less affluent. Natural environment: Factors that pertain to all natural resources necessary for the production, shipping, and selling of goods, and directly impact marketing activity. The facts are: There are shortages of raw materials because of depletion and industrial expansion including: clean air, clean water, trees, metal, oil, coal, natural gas, just to list a few; and increases in global pollution and global warming. Technological environment: Factors that pertain to the creation and expansion of new technologies, products, markets and opportunities. Examples include: The increasing advancement of technology outpacing employee skills; The design and production of practical and affordable commercial products; Increased government regulation pertaining to product safety, personal privacy, and technological changes; and innovations that can potentially harm the user and create legal issues; just to list a few. Political environment: Factors that pertain to government imposed rules, laws, policies, and guidelines that are designed to influence, limit, and guide business and commerce for the good of the whole society. The fact is these regulations and laws are in place to: Protect companies from each other; protect consumers from unfair business practices; Protect society’s interests from uncontrolled business behavior; and to address social and ethical issues in regards to ecommerce and internet marketing pertaining to privacy, security, and unauthorized access. Cultural environment: Factors that pertain to society’s core beliefs and values, perception, preferences, and acceptable behaviors that are influenced by: the education system, religion, business and industry, and the government. These values have major impact on our decision making. Then there are our more flexible secondary beliefs which influence: How we view other people; Consumers making purchases that improve their lives and not their image; and how people view organizations, and their expectation of organizational social responsibility. Tends to follow include: Consumers finally understanding that nature is finite; Increases in outdoor sports related to nature, and a greater admiration of nature; and the publics evolution into greater spirituality. Psychographics: Factors pertaining to the lifestyle, attitudes, beliefs, purchase motivation, product usage and perceptions of specific market segments. The fact is these factors have a major influence on how we view, purchase and use products every day.

7 PRODUCT DEVELOPMENT Idea generation and screening
Concept development and testing Product feasibility analysis Product development Market testing Product commercialization Idea generation and screening (Dontigney, 2015): In this phase, the MM R & D team will generate ideas through various methods including: quantitative and qualitative research; MM idea campaigns; employee input for the intranet-site; consumer ideas from the MM blog; undecided consumers input; analysis of consumers unmentioned wants and needs; analysis of potential new customer needs; supplier input; and mentor idea generation. The ideas obtained through these techniques will provide MM a larger pool of new ideas to consider, and will nurture and enhance these relationships to further MM’s success. Idea screening requires MM to test and determine if the ideas: meet MM’s standards for judgement; are in-line with MM’s product strategy and values; are feasible and have market potential; are the best options; meet MM’s supply chain resources; and meet MM’s financial requirement including: cost to produce, marketability, and profit requirements. Concept development and testing (Dontigney, 2015): In this phase, concept development generates the pool of ideas for analysis against pre-determined standards, and then reduces the number of ideas to one that encompasses all the best ideas, the perfect cellphone for the target market. MM can decide on several ideas that fit all the required standards, and use them as alternative options. Concept testing is the next step of this phase, and provides MM the opportunity to enhance and streamline the cellphone to make it more marketable, provides MM a clear vision of the features most appealing and necessary to the target market, provides MM with options to create variations of the phone, and assists in determining the most appropriate design, advertising and promotional materials, avenues of distribution, and the ideal price for the target market. Product feasibility analysis (Dontigney, 2015): In this phase, MM determines the cellphones real feasibility with an complete analysis of: cost of production; does the cellphone meet the required profit percentage; determination of whether target market will generate the expected and necessary sales levels to justify distribution; and so on. Product development (Dontigney, 2015): In this phase, MM produces a working model of the cellphone to test with potential customers and/or focus groups, and create a potential marketing plan. This phase enables MM to make all necessary adjustments to both the cellphone and marketing plan, and tests the cellphone and marketing plan again to determine if the adjustments are suitable for the potential customers and/or focus groups. Market testing (Dontigney, 2015): In this phase, MM will conduct field testing of the new cellphone with a selected target consumers, and will determine whether the cellphone performs as was promised and designed to, and determines whether the cellphones popularity with the target consumer. If adjustments need to be made to make the cellphone perform as promised, the adjustment will be made, and the cellphone will be market tested again to ensure it delivers on its promise. Product commercialization (Dontigney, 2015): In this phase, MM must have sufficient cellphones produced and ready to ship, to meet the contracted quantities for sale at all their contracted retailers, and have sufficient inventory to replenish sold stock. MM also has to provide the promised advertising and promotional materials, and customer service to nurture, and enhance their retailer relationships.

8 TEST MARKETING Provide a market ready smartphone
Determine the testing method to be used Determine area to perform market test Analyze results and make adjustments Provide enough time to gauge the smartphones potential Analyze results and launch smartphone The new smartphone test marketing plan Provide a market ready smartphone (Scotland Food and Drink.org, N.D.): This step requires MM to have sufficient smartphones produced for the test market. The phone must be market ready, and do what it is promised to do, or the market test will prove embarrassing for MM, tarnish MM’s consumer perception, and could prove disastrous for MM’s reputation. Determine the testing method to be used (Pearson Education Inc., 2015): There are three testing methods to consider which include: “Virtual test marketing”: This method uses computer simulation, and small groups of target market participants. The advantage of virtual testing for MM is it will enable testing without timeframe limitations, and will enable MM to make adjustments quickly, all to avoid the competition from scooping the opportunity from MM. “Simulated store marketing”: This method uses a small test group of consumers (from 30 to 40), uses a mock store stocked with both MM’s products and the competitions, and real advertising material. The MM research team observes the test group while they make their cellphone choices, and afterwards questions the consumers about their choices. This method provides a controlled environment, is inexpensive, helps collect information about the cellphone, the advertising and promotional materials, and helps MM conduct product research. “Controlled test”: This method uses selected in field contract stores and performs as a small test market with MM monitoring consumer choices. This method requires a smaller test group, is quick, inexpensive, and effective. There are two issues to address: First, the observed consumers may not necessarily represent the target consumer; and the competition may offer price incentives to intentionally skew the test toward their products. The result of that would be inaccurate test results. Test markets: This method mimics a small-scale product launch, uses a large controlled test group of 200 to 300 participants that represents the target market, provides a fixed short period of time for test group to use the smartphone, and results in a complete analysis of the participants responses about the cellphone. This method is the most costly, but provides the most accurate results. The testing method chosen will be determined by size of the test market MM is willing to work with, the cost MM is willing to absorb, and the required accuracy desired by MM. Determine the area to perform the market test (Scotland Food and Drink.org, N.D.): This step provides a complete evaluation of the target market, requires the area (city) demographics represent the demographics of the target market for the test to be accurate and effective, and there must be retailers and field specialist contracted to perform the market test (Scotland Food and Drink.org, N.D.). Analyze results and make adjustments (Scotland Food and Drink.org, N.D.): This step in necessary to ensure the smartphone does what it is advertised to do, and performs properly. The results from the market test will provide MM feedback from the test consumer, and enable MM to make all necessary adjustments to the cellphone. If adjustments are necessary, they are made, and the market test is conducted again to ensure consumer satisfaction, as well as solidifying MM’s reputation as a quality cell phone manufacturer. Market testing will also help MM determine an expected sales forecast (Scotland Food and Drink.org, N.D.). Provide enough time to gauge the smartphones potential: A period of 30 days should be suitable for obtaining the necessary feedback from the test group (Scotland Food and Drink.org, N.D.). Analyze results and launch smartphone (Scotland Food and Drink.org, N.D.): This step enables MM to make all final adjustments to the cellphone and advertising materials, and ensures both the phone and the advertising are ready for launch. MM will then launch the cellphone through the contracted retailers nationwide, and provide the necessary advertising and promotional materials for the most effective, and profitable product launch (Scotland Food and Drink.org, N.D.). MM’s new smartphone test marketing plan: MM will provide sufficient market ready smartphones for the test market. MM will use traditional market testing. MM will test market the smartphone in Los Angeles . This market provides a solid representation, and sufficient varied demographics of the target market including: a large Caucasian, Black, Hispanic, and Asian community; and will sufficiently account for the required middle class income brackets. The test group will include 200 consumers from the target market, pre-teens, teenagers, and their parents, all from the required middle class income brackets, and from each ethnic category. They will be provided 14 days to use the smartphone, and provide the necessary feedback for MM to make all necessary adjustments to the phone and marketing materials. If adjustments are necessary, MM will make all required changes to ensure the smartphone performs as advertised. The participants will again have 14 days to use the smartphone, and provide the necessary feedback to MM to determine if the smartphone, and the advertising and promotional materials are to the participants liking. Once all necessary adjustments have been made, and the smartphone satisfies the target markets needs, the smart phone will be launched nationwide.

9 COMMERCIALIZATION Launch mass media campaign 30 days prior to launch
Launch smartphone in key major metropolitan areas Launch smart phone in all areas Available in major cell phone retailers Run promotional price for 30 days Launch mass media campaign 30 days prior to smartphone launch: The intention here is to generate a great deal of excitement about the new smartphone release. MM will initiate advertising on television, print media, radio, and the internet. For Television, print, and Internet advertising, the ads will feature pre-teens, teenagers and parents using the phone in scenarios appropriate for their role. Pre-teens and Teenagers should be shown using the phone to stay in touch with their friends and family, and accessing their favorite music and social media sites. Parents should be shown using the phone to stay in touch with their children and family, and making arrangements social engagements. For television, MM will be advertising on all major networks, Direct TV, Dish Network, and Cable. For print advertising, MM will feature their ads in Teen magazine, American Girl, Sports Illustrated Kids, Boy’s Life, Parents magazine, and Working Mother. Radio advertisements will include ads where pre-teens, teenagers and their parents are talking about the importance of the cell phone for staying in touch using social media, and its importance for security and peace of mind. The media campaign will be designed to enticing to the target market, and to make as big a splash as possible. Launch smartphone in key major metropolitan areas: The initial launch will take place in key major cities including: New York City, Atlanta, Miami, Los Angeles, San Francisco, Houston, and Chicago. These cities have been chosen because their demographics represent the target market, they are key players in their regions, and represent the major players of cities in the U.S. MM will ensure sufficient smartphones to meet the expected demand, as well as provide all necessary marketing and promotional materials. Launch smartphone in all areas: 14 days after the launch in those key metropolitan areas, the smartphone will be available in all major metropolitan areas across the U.S. The short time frame between launches will limit the time competitors will have to counter MM’s new smartphone. And once again, MM will ensure sufficient inventory of the smartphone, and marketing and promotional materials. Available in all major cell phone retailers: The smartphone will be sold in all major cell phone retailers including: Best Buy, Walmart, Target, Sam’s Club, Verizon stores, T-Mobile stores, AT&T stores, Sprint stores, and Metro PCS stores. Run promotional price for 30 days: In major retailers, the smartphone will be sold for $179 by itself, or $79 with a two year contract. In Metro PCS stores the phone will be sold for $179, because they sell the phone for full price, and provide a low cost monthly service with no contract.

10 REFERENCES Berry, T. (2015). What Is a SWOT Analysis? Retrieved from articles.bplans.com/business/how-to-perform-swot-analysis/116 Bing.com. (2015). Images of Green Cell Phone Logos. Retrieved from bing.com/images Dontigney, E. (2015). 6 Phases in New Product Development. Retrieved from smallbusiness.chron.com › … › New Product Marketing Explorable.com. (2009, November 3). Quantitative and Qualitative Research. Retrieved from Pearson Education Inc. (2015, May 19). Live Chat 1. Retrieved from Pearson Education Inc. (2015, May 30). Live Chat 4. Retrieved from Pearson Education Inc. (2015, June 6). Live Chat 6. Retrieved from

11 REFERENCES Qualtrics, LLC. (2015). Concept Testing Surveys: How to Conduct a Concept Test. Retrieved from Scotland Food and Drink.org. (N.D.). How do I conduct a Test market? Retrieved from Stephensanity. (2010, January 25). Six Steps to Create an Excellent Concept Idea - Concept Development Tutorial. Retrieved from stephensanity.blogspot.com/...steps-to-create-excellent-concept.html Tucker, R. B. (2014). Seven Strategies for Generating Ideas. Retrieved from Vellandi, M. (2007, august 20). Idea Screening in New Product Development. Retrieved from Worpress.com. (2011, October 10). Quantitative vs. Qualitative Research: What’s the Difference? Retrieved from


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