SuMan Choi (Student number : 11496113) by 최수만 https://padlet.com/schoi8998/s9hnmo7rqudp MKT 350 Assignment one : New product review web page. Toipc : Samsung Electronics - Q9500 en-us 2016-03-09 07:50:46 UTC 2023-02-22 02:43:38 UTC hello@padlet.com What is Innovation ? schoi8998 https://padlet.com/schoi8998/s9hnmo7rqudp/wish/99862233
  • Innovation may be defined as exploiting new ideas leading to the creation of a new product, process or service.
  • Innovation is not limited to new products and services. In involves workplace culture, business processes, opening new markets and customer relationships.
  • Innovation generally refers to changing or creating more effective processes, products and ideas, and can increase the likelihood of a business succeeding. For businesses, this could mean implementing new ideas, creating dynamic products or improving your existing services. Innovation can be a catalyst for the growth and success of your business, and help you adapt and grow in the marketplace. ("Business," n.d., para. 1)

    • Figure 1 (Fljester, N. 2013.)
    ]]>     2016-03-09 07:52:32 UTC https://padlet.com/schoi8998/s9hnmo7rqudp/wish/99862233     Why innovation is important for organization ? schoi8998 https://padlet.com/schoi8998/s9hnmo7rqudp/wish/99879604
  • Innovation is critical to sustaining business competitiveness and improving productivity. It is the foundation of current competitive society. There are many external and internal factors affecting the need for innovation.
  • Internal - improve profitability 
                     improve ROI 
                     improve cash flow 
                     improve quality 
  • External - competition 
                      lower costs 
                      new entrants 
                      market drivers 
                      (demand, economic forces 
                      social changes, demographics and so on) 
  • Eventually, innovation is critically important for organization because it allows businesses and industries as a whole to adapt to change such as between market conditions, customer's wants, technological advances, and global economies, the business landscape is always evolving therefore organization should consider innovation continually to adopting changing society. In other words, organization should know these things to launching their own innovative products or services without risks. 
    • ]]>     2016-03-09 09:59:34 UTC https://padlet.com/schoi8998/s9hnmo7rqudp/wish/99879604     About Samsung Electorincs schoi8998 https://padlet.com/schoi8998/s9hnmo7rqudp/wish/99888139 From our innovations in consumer electronics to our developments in biopharmaceuticals, Samsung shares impactful experiences each day with people around the globe. Through our devotion to create superior products and services across all areas of our business, we strive to enhance the lives of people everywhere and bring positive change to the world around us. 
    Figure 2 ("Samsung," n.d., Picture. 1).]]>     2016-03-09 11:02:52 UTC https://padlet.com/schoi8998/s9hnmo7rqudp/wish/99888139     Innovative Air Conditioner (Samsung Electronics Releases Breeze-free Air Conditioner) schoi8998 https://padlet.com/schoi8998/s9hnmo7rqudp/wish/99893414
  • Samsung Electronics Co. has become the world’s first company to launch “breeze-free” air conditioner, branded the Q9500, in the market that gives users the ability to maintain a stable room temperature without breeze. 
  • The company has used its own technology that can rapidly control the room temperature without strong and direct breeze from air conditioners. 
  • Samsung Electronics held the 2016 Air Conditioner and Refrigerator Media Day Event at Samsung D’light in the headquarters in Seocho, Seoul, on January 25 to unveil its strategic products this year. 
  • In particular, the Q9500 breeze-free air conditioner, which was showcased in the event, is a product that improves the quality of breeze in consideration of consumers who abhor direct contact with cool breeze from air conditioners or are conscious of health. 
  • The product keeps cooling the air and maintain a consistent temperature via nearly 135,000 micro holes that cover the Metal Cooling panel.
  • As Samsung Electronics develop new category in air conditioner industry, they have to keep development their own technology to deal with competitor 
    • In other words, Samsung Electronics overcome the negative things from air conditioner and develop the benefits of air conditioner with innovate new product which is Q9500.

    Likewise Samsung can get the opportunity because Samsung's air conditioner is already used from almost people in the world. In other words, Samsung Electronic already have strong market share. In this point, as Samsung develop new category in air conditioner, they can make strong attention from their existinsg customers. Moreover, if customers are satisfied with new product, Samsung can increase the margin or brand equity in the air conditioner industry. In other word, they can obtain strong competitive advantage and chance to developing more useful products.  

    There is link for introduce about Q9500)
     Figure 3 (Samsung Newsroom, 2016)
    ]]>     2016-03-09 11:39:55 UTC https://padlet.com/schoi8998/s9hnmo7rqudp/wish/99893414     The benefits and risks from air conditioner schoi8998 https://padlet.com/schoi8998/s9hnmo7rqudp/wish/99896958 From my point of view, there are some benefits and risks from air conditioner.

    Benefits
    • heat has a clear negative impact on the intellect and on physical activity and the use of air conditioning can go some way to rectifying this.
    • It improves comfort levels at work and at leisure. 
    • It improves job performance. 
    • It can result in increased physical and intellectual activity. 
    • A lower temperature reduces the presence of insects and parasites. 
    • Lower temperatures mean less sweating, reducing the risk of dehydration. 
    • A clean air conditioning system helps exclude external allergens such as pollens. 
    •  If the air conditioning installation is good, and if it is well maintained, it renews and improves air quality.
    Risks
    • Sudden changes in temperature and humidity affect the respiratory system. 
    • It has a drying effect on skin and mucous membranes. 
    • It adds to ambient noise, contributing to noise pollution. 
    • The air circulation can transmit infectious respiratory diseases. 
    • Airborne dust and fungi can cause allergic reactions. 
    • Air conditioning is associated with chronic rhinitis and pharyngitis, throat irritation and hoarseness. 


    ]]>     2016-03-09 12:05:53 UTC https://padlet.com/schoi8998/s9hnmo7rqudp/wish/99896958     Managing Risk in process of developing new product schoi8998 https://padlet.com/schoi8998/s9hnmo7rqudp/wish/100401443 When organization develop new product, there can be risk. Also, avoidance risk in NPD is impossible so organization should manage risks & challenges to successful. In other words, marketer should consider the market conditions such as customer's need, change marketing environments and so on to deal with fast-changing market. 
    So according to the Crawford, there are the basic new product process.
    1.  Opportunity identification/selection (set the goal)
    2.  Concept generation (problem solving and prepare what should do)
    3.  Concept evaluation (predict the result and test)
    4.  Development (develop new product which is passed test)
    5.  Launch (consider how? when? where? to whom?
    There are two big components of risk in NPD which are amounts at stake and uncertainties. 
    These two things are interact with each other. In other words, if the uncertainties are high keep the amounts at stake low. On the other hand, as the uncertainties decrease the amounts at stake can be increased. Therefore, when organization do developing new product, they have to consider clearly as following the new product development process based on Cooper's way or Crawford's way to minimize the challenges and to maximize competitive advantage. (Coghlan, 2016, slide 48)

    These two risks can be occurred in each stage in the process of new product development so organization should prepare things such as competitors, market conditions, customer's needs, global economies and they have to predict the results to avoiding risk and being successful in the competitive society. 

    ]]>     2016-03-11 07:53:21 UTC https://padlet.com/schoi8998/s9hnmo7rqudp/wish/100401443     The review schoi8998 https://padlet.com/schoi8998/s9hnmo7rqudp/wish/100582067 As the one of the person who using air conditioner, I always avoid being exposed during long time from air conditioner's direct wind even hot day because since when I was young, I got a cold frequently due to direct cold wind from air conditioner. Also, from family point of view,  If the owner do not cleaning regularly, air conditioner can produce bad things which are can be bad influence on their family. For example, as for baby, they are very sensitive so should be careful always during maintain clean air condition and clean environment to protect baby from fine dust or something like that. 

    Likewise, air conditioner need to attention regularly so always I had negative perception on the air conditioner but when I searched the internet, I sought the article associated with Q9500 in Korea, so at that time, I got interested in this innovative product and the launching date is suitable for me so I determined go to launching place. Additionally, when I go to the launching place, there were many Samsung Electronics' competitors and people who related with media to interview or appreciate Q9500. 

    After getting experience Q9500, my negative perceptions on air conditioner are changed as positive perceptions. Also, I believe this innovative product will be famous and being roll model in air conditioner industry from competitors and positive influence on people who like me. Moreover, even that time is my first time to visiting new product launching place, I got enlightenment about new product development so whenever when I have time, I will go to the other product's launching place to knowing how to launching product and to obtaining new experience. 

    For these reasons, many electronic company develop new air conditioner to getting competitive advantage. In case of Samsung air conditioner Q9500, as this innovative product overcome existing problems from air conditioner such as costs of electronic, causing allergic reactions, drying skin and ambient noise, they can increase their brand equity or margin. As a results, Samsung Electronics can get strong competitive advantage. 
     
    Lastly, I hope that as times goes on, world will be more comfortable in almost fields than past as organization develop new and innovative product or service.  ]]>     2016-03-12 03:31:13 UTC https://padlet.com/schoi8998/s9hnmo7rqudp/wish/100582067     REFORENCE schoi8998 https://padlet.com/schoi8998/s9hnmo7rqudp/wish/100697997 Business, (n.d.), Retrieved from http://www.business.gov.au/business-topics/business-planning/innovation/Pages/default.aspx.

    Fljester, N. (2013, August 2). How do you define innovation? Part three. In Boston Children's Hospital . Retrieved from http://vector.childrenshospital.org/2013/08/how-do-you-define-innovation-part-iii/

    Coghlan, I. (2016, March 7). Lecture 2: Managing Product and Service Innovation [Power Point Slide]. Retrieved from https://interact2.csu.edu.au/webapps/blackboard/content/listContent.jsp?course_id=_12554_1&content_id=_489488_1&mode=reset 

    Samsung. (n.d.), Retrieved from http://www.samsung.com/au/aboutsamsung/ 

    Samsung Newroom, (2016, January 26). Experiment of Q9500. In You Tube. Retrieved from https://www.youtube.com/watch?v=DpGgk8ahVDw   ]]>     2016-03-14 06:07:10 UTC https://padlet.com/schoi8998/s9hnmo7rqudp/wish/100697997