Engineering and Management New Product Development

Question: Discuss about the Engineering and Management for New Product Development. Answer: Introduction Think Again Laser Clinic is a tattoo removal clinic, which operates at the heart of Sydney. This organization is one of the market leaders in the tattoo removal industry in Australia. At Think Again Laser Clinic, the medical professionals are solely focused on the process of tattoo removal with the help of a laser. This organization utilizes the most advanced technology in the tattoo removal industry, and it has conducted more than 4000 treatments. The organization is equipped with technologies that can remove all colors of the spectrum. The Think Again Laser Clinic also provides their customers with a free consultation wherein their tattoo removal experts evaluate the unwanted tattoo, which the clients want to get rid of. They guide their customers through the entire process of tattoo removal and provide the expected outcomes to their customers in the market. The organization believes in the power of their technology and guarantees faster and better results to their customers. The organization prides itself on having the most advanced Q-switched laser in entire Australia. Their Quanta Laser is capable of removing tattoos of any color from the skin of a person. The level of efficiency with which it can remove multi-colored tattoos is virtually unparalleled anywhere else in Australia. This laser technology removes even red, orange and yellow ink (which are considered to be difficult to remove) in a safe and effective manner. Tattoos are essentially balls of ink, which are artificially injected into the superficial layer of the skin. These balls of ink get stored among the immune cells which are present in the second layer (dermis) of the skin where they get stuck because they are too large to be carried away (Bassi et al. 2014). Their Quanta Laser technology involves passing extremely short nanosecond bursts of a high intensity and powerful light beam, which penetrates through the tattoo ink pigment present on the human skin leaving the surrounding skin untouched. The laser beam passes under the dermis of the skin and reacts with the ink molecules directly. The result is that the ink molecules are shattered into smaller pieces, which are then absorbed into the blood stream. Once these molecules are absorbed into the blood stream, the body then begins the process of harmlessly removing the ink pigment through the lymphatic system, which might take a total time of six weeks to be eliminated from the human body (Luebberding and Alexiades-Armenakas 2014). The Think Again Laser Clinic is a part of the tattoo removal industry, which is a rapidly growing industry in Australia. There are few cosmetic laser procedures, which are considered as profitable and exciting as the laser tattoo removal. The high popularity of tattoos among the consumers has matched the high prevalence of regret among the consumers for their past decision of making tattoo they want to remove it. It has given rise to the present demand for tattoo removal among the consumers in the market. The tattoo removal industry in Australia has grown over the years to keep up with the demand for tattoo removal. Moreover, the introduction of laser tattoo removal techniques has played a major role in enhancing the attractiveness of the tattoo removing procedures among the general public who want to regain control over the appearance of their skin (Barbour 2013). Laser tattoo removal practitioners charge a premium amount from their patients every time they visit them. Each laser procedure is usually priced within the range of $200 to $1000, and to remove their tattoos completely, a patient requires between five and ten sittings. The laser procedure itself only takes between 30 seconds and 15 minutes to be completed, and this depends on the size and complexity of the tattoo that the customers want to remove (Naga and Alster 2016). Selecting a new potential opportunity which could be exploited by the Think Again Laser Clinic: As mentioned by Buganza et al. (2014) for expanding the market operation and obtaining a sustainable growth in the future market, the organizations need to opt for the strategy of new product development. However, the process of new product development involves a few interrelated and consecutive phases. As mentioned by Dahan and Hauser (2002) opting for the continuous processes for developing a new product, the organization becomes able to introduce the product, which has the best potentiality for being successful in the market. Here, for Think Again Laser Clinic, I need to go along with those overlapping processes for being successful in the future market. This process involves opportunity identification and selecting them for generating the new product concept. As discussed by Owens and Davies (2000) Firms must become adept at not only identifying customer needs but also at anticipating needs that customer themselves find difficult articulate. Then, the organization needs to generate concepts depending on the market opportunities or the scopes available in the market for introducing a new product or service. In the next stage, the organization needs to make an evaluation of the generated ideas on the technical, marketing and financial criteria. Depending on the evaluation, the concepts need to be prioritized for further proceeding. According to Buganza et al. (2014), the companies need to develop the prototype, testing, and validation of them needs to be done on the selected option. In the last phase, the product is commercialized. It involves the selling and distribution of the new product. Here, in the context of Think Again Laser Clinic, the company also needs to identify the market opportunities as the first phase of its new product process. As discussed by Fuller (2016) in the first phase, the companies need to explore the active and passive push factors for new product generation. Here, the company has identified that the product mostly used for tattoo removal, creates roughness in the skin as it dries out the natural oil from the epidermis (Bassi et al. 2014). The organizations those are operating in the same field of Think Again Laser Clinic have faced customer complaints in this regard. If the company addresses this opportunity or the customer demand with a service for providing softness to the skin, the company will be able to attract more customers to its main business of tattoo removal as, they will be the only service provider for this gap. On the other hand, the competitors will also opt for the product or the service of Think Again Laser Clinic, as are als o facing the same client complaint. Thus, the company will be able to become the market leader and obtain a great level of competitive advantage over its competitors. On the other hand, the basic opportunity of the tattoo removal industry depends on the customers who have changed their mind regarding their tattoos (Barbour 2013). In most of the cases, it can be identified that the clients often opt for a tattoo without thinking of its consequences. In few years, they find it boring or unacceptable. It directs them to opt for the service of the tattoo removing organizations like Think Again Laser Clinic. Here, the companies can address this gap between customer demand and service pattern. The management has identified that any service model that will serve the temporary demand of tattoo will perfectly this segment of the customers who love to change their tattoo designs with time. With addressing this opportunity, the organization will be able to change the direction of the industry (Buganza et al. 2014). As the opportunity deals with the pattern of tattooing, creating a technology or process for the temporary tattoo will change the market and demand of tattooing worldwide. Now, to address these market scopes or the untouched opportunities, the company can opt for different strategies or new product development. However, in such a context, Think Again Laser Clinic need to opt for the second stage of new product process and generate new ideas those can address the gap between the customer demand and organizational offerings. Generating two new product concepts and providing a clear explanation of the concept and illustrating how they will enable the organization to capitalize on the market opportunity; As discussed by Bhuiyan (2011) after finding the market opportunities, the idea generation stage begins where the search for product ideas is made to meet company objectives. After identifying the market opportunities now, Think Again Laser Clinic needs to generate ideas for addressing them and obtaining the profit making results. For addressing the issues of customer complaints regarding the roughness of skin the company can opt for developing a new product for skin conditioning. As discussed by Fuller (2016) on the second level of product development process, the organizations need to ideate the best possible solution for addressing the market demand. Here, Think Again Laser Clinic will also do the same by introducing an affordable skin conditioning product range for all skin types. As noted by the company, in the contemporary market, no organization is being able to provide a high quality and affordable products support to the clients. Hence, the company can opt for creating skin- conditioning cream for the clients. On the other hand, for addressing the other opportunity of temporary tattoo, the company can opt for providing a service of natural henna based temporary tattoos. As mentioned by Barbour (2013) in the countries like India, Pakistan or Persia this process is highly popular. The company will opt for using henna in the place of tattoo colors, which will be totally natural and organic. Hence, it will make no harm to the skin of the clients. As discussed by Dahan and Hauser (2002) the ideas generated on this stage, needs to be shaped in such a manner so that they address the requirement of the clients. Here, the company is doing the same by introducing a skin friendly temporary process of tattooing. Evaluating the two new product concepts and recommending one new product concept for the organisation to take forward to the stage of testing: As mentioned by Fuller (2016) the third phase of new product process involves evaluation and screening of all the generated ideas in the previous stage of idea generation. In this phase, the ideas need to be evaluated on the financial, technical and marketing criteria. For the first idea of developing a new product for skin conditioning, the company has all the needed facilities. Being an experienced marketer, the company has knowledge and technologies for developing a skin care product, which will successfully address the issue of the roughness of skin created by the tattoo removal process. However, the company can face the issue in the marketing of the product. As discussed by Dahan and Hauser (2002) in the evaluation phase, it is important to identify the frailties of a certain idea to implement it rightly in the product development phase. Here, the company will face the issue of lack of business customers, as the competitors will deny buying the product. Hence, the company can opt for the strategy of operating under a parent company TJ Enterprises with a new company name Acacia Organics. It will help the company in selling the product with the brand of a reputable company to its competitors. On the other hand, the company will also address the customers directly and thus create a pull factor for the competitors to use the product, as the customer demand will be high. Finally, the company will appoint sales personnel for direct marketing. On the other hand, the second idea of introducing natural and temporary tattooing will be helpful in every respect for the company. As it will not involve intricate technologies, the company need not make many financial investments (Buganza et al. 2014). Moreover, for offering various designs, the company already has talented and experienced tattoo artists. In the criteria of marketing approach, the company will be able to market it with no much significant challenges. As the service will be clearly provided on the B2C basis, the company will not have to struggle to obtain the positive purchasing decision of the competitors or other players of the market. The popularity of the henna tattoo in the exotic culture of the East will provide an advantage to the organization in promoting the new service pattern. Moreover, to promote this new service, the company will not need any sales personnel, which will be significantly cost effective to the organization. As discussed by Dahan and Hauser (2002) in the new product process, evaluation holds the most important position as it assesses all the scopes and potential frailties of each of the ideas generated in the previous stage of idea generation. By identifying all the advantages and limitations of each of the ideas, the companies need to select the best possible strategy that will be supportive to the economic, technological and marketing base of the organization. After comparing the two products if we have to justify the long-term tangible benefits, which will be obtained by the organization, then we can safely say that the natural temporary tattoo is the product of choice for Think Again Laser Clinic. The temporary tattoo created from natural ingredients will be the game changer in the market shortly. It will enable the organization to target both types of customers in the market the ones who are willing to go for a new tattoo for the first time and the ones who have learned their lessons and are willing to remove their permanent tattoos. This will result in retaining the old customers of the organization from whom they will be able to realize their loopholes as well as the positive effects and thus there would be chances of rectification as well as the advancement for better. Their ultimate aim is customers satisfaction, and they will end up in delivering the same to their consumers (Buganza et al. 2014). This product will fit the business strategy of the organization, which is to create a stronghold in the market by dominating the market competition with their business rivals. This results in attracting the customers to their outstanding product delivery, thus resulting in the increment of their profit as well as generating revenues throughout in Australia. The marketing feasibility of the new product is much better as compared to the other product as it will enable the organization to project itself as a holistic treatment provider, which offers their line of services as well as the products to their consumers in the market. It will result in creating a brand rapport of the organization by attracting diversified customers from the market arena. The fact that this is the first product of its kind in the market, there will be no competitors for the same product, and thus the organization would be able to develop a monopoly on the market by offering the new natural temporary tattoos to their customers. Think Again Laser Clinic can use the social media platforms such as Facebook and YouTube to spread consumer awareness regarding the product. It will enable Think Again Laser Clinic to save their money and in this way the concern will be potential enough to earn a significant profit by delivering the optimum satisfaction to their consumers and keeping up their quality (Fuller 2016). References: Barbour, K., 2013, January. It can be quite difficult to have your creativity on tap: balancing client expectations and artistic practice in the tattoo industry. In Projections-Proceedings of WCCA'2013-VI World Congress on Communication and Arts (pp. 2-7). COPECScience and Education Research Council. Bassi, A., Campolmi, P., Cannarozzo, G., Conti, R., Bruscino, N., Gola, M., Ermini, S., Massi, D. and Moretti, S., 2014. Tattoo-associated skin reaction: the importance of an early diagnosis and proper treatment. BioMed research international, 2014. Bhuiyan, N., 2011. A framework for successful new product development. Journal of Industrial Engineering and management, 4(4), pp.746-770. Buganza, T., Colombo, G. and Landoni, P., 2014. 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