ASSIGNMENT HELP | Choose a company in which you are interested.

Choose a company in which you are interested.

Consult recent annual reports and Internet sources to find out what new products that company has brought to market in the past year or two.

Are those products truly new innovations, or are they simply extensions of existing products?

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What considerations likely guided the company in its product development efforts?

Write one or two paragraphs on how you arrived at your answer.

MODEL ANSWER

In February 2020 at the Olympic Summit in New York, Nike Inc. launched the Nike Air Zoom Alphafly Next% racing shoes. The shoe has a full-length carbon fiber and Pebax | PLACE YOUR ORDER NOW AT writtask.com | product comes with new features which is an improvement to the product’s predecessors, the Vaporfly 4% Flyknit and Vaporfly Next% (Nike Inc., 2020).

The company’s introduction of this new innovative product is informed by | PLACE YOUR ORDER NOW AT writtask.com | a leader in the design, development, manufacturing, and distribution of sportswear, it has to stay ahead of | PLACE YOUR ORDER NOW AT writtask.com | faces stiff competition from other brands such as Adidas and Under Armor and therefore it had to develop a superior product than the premium ones offered by | PLACE YOUR ORDER NOW AT writtask.com | development is the lifeblood of the company through which it offers premium quality products to customers.

Similarly, the introduction of the new running shoe model was to offer a product with high performance than its | PLACE YOUR ORDER NOW AT writtask.com | is more comfortable than its predecessors and ensures that the user gets value for their money. Improving customer experience is at the core of new product innovations.

Also, Nike’s introduction of the improved running shoe was strategic to enable the company to make more profit and improve the company’s | PLACE YOUR ORDER NOW AT writtask.com | a premium price on the market and this improves its revenues. Besides, the company sought to meet consumers’ changing tastes and p | PLACE YOUR ORDER NOW AT writtask.com | tastes and preferences are constantly changing and companies are therefore in a rush to develop new products or improve on existing ones to meet the needs of consumers.

References

Nike Inc., (2020). 2020 Annual Report. Retrieved from https://investors.nike.com/investors/news-events-and-reports/default.aspx