Page 0: Introduction
Few markets remain in the same state for long. In some cases consumers needs change with some companies choosing to respond. Depending on the nature of the industry, it may or may not be beneficial to be the first to respond. If the innovation is particularly difficult to produce or market, other companies may gain by learning from the mistakes of the innovator. So, being the leader brings risks...
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Page 1: Meeting customer needs
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In 2000 Corus identified a new opportunity in the CES market. Previously, the company would laminate material and then sell this material to another company, who then manufacture the end product. The end client would request that the material was treated with an anti-bacterial agent.
This two-stage process was time-consuming and expensive. It had a further disadvantage for Corus. The...
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Page 2: The market
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Potential market
The potential market for Assure within the food sector can be divided into two key market segments:
Industrial sales - This segment includes the walls, ceilings and doors used in cold storerooms at food processing and food manufacturing facilities.
Retail sales - This segment involves refrigeration units used to keep food cold in retail outlets such as restaurants, butchers...
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Page 3: Research and development
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Research and development involves the use of scientific knowledge to develop new products and processes. An important stage of the research and development process is testing.
New product ideas have to be tested to ensure they are:
capable of being manufactured
safe in their intended use
able to deliver the required performance level
desired by the market
able to generate a profit.
If...
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Page 4: Ansoff matrix
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Ansoff's Matrix highlights four possible growth strategies for a business.
Market penetration occurs when a firm tries to sell more of its existing products in its existing markets, perhaps through greater promotional efforts.
Market development occurs when a firm tries to sell its existing products in a new market e.g. a new segment or country.
New product development occurs when a firm...
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Page 5: Conclusion
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Assure is still a relatively new technology for Corus. The company is confident of its success because the technology fills an emerging gap in the market and because sufficient demand appears to exist.
In the case of Corus this particular innovation has raised its market profile, has helped to promote its other products and has enhanced its reputation within the industry.
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