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Mr. Gilbert's plan for implementation of net product

The CEO of your company, Mr. Gilbert, has explained to you that the board is excited to hear your latest plans for the company's new revolutionary product/service. The board, which is made up of the top executives and owners, has put a lot of money into the creation of the new product/service, and the members not want to push the product/service into the market without knowing and discussing each individual detail involved. With that in mind, Mr. Gilbert explains to you that the board has requested that you prepare a report discussing and explaining the market for which the new product/service will be implemented.

For this assignment, you must submit a report in which you discuss and explain the market at which the new product/service will be implemented.

* Briefly explain the new product/service you created.
* Approach the creation from an entrepreneurial prospective as if you are launching the new product/service without the company's support.
* Explain the market at which the new product/service will be implemented.
* Make a case for the new product/service that clearly states the need in the market.
* Explain the pain felt by the customers and the solutions the new product/service will deliver to them.
* Identify the industry, and cite data on its state and growth.
* Research the market, and provide data on its size, growth, and so forth.
* Reference all sources using the appropriate APA citation style.

Solution Preview

The response addresses the queries posted in 1681 words with references.

// Innovation is an ongoing process. This results into continuous development of new products. For the last few years, it has been seen that many industries are adopting non contact thermometer technique. From health care to manufacturing industries, everyone is working on its development. In this regard, the product and reasons for its creation are discussed in the initial discussion of the paper.//

Thermometers are mainly used for measuring the temperature of human body. Temperature is measured by putting the thermometer into the mouth of patient. It is difficult for some of the people mainly for small children to keep the thermometer into the mouth. Hence, to make the process more convenient, first Non-Contact thermometer was created. This instrument is simple and easy to use. It also provides efficient and more accurate readings as compared to general thermometers. This was created for the safety and accuracy of results. This was done by using the Laser technique. This non-contact thermometer has built in laser that helps in targeting the exact measurement point. It is used to take the body temperature without touching any part of the body. It can analyze the infra red rays coming out of the body and accordingly, gives accurate body temperature. It can also be used for other measuring purposes like baby bath water, food and many more. It can also be used for various other measures and control tasks in the trade, industry and medical laboratories (Non-contact Thermometers Product Description, 2010)

//After having a good understanding of the basic reasons for the product creation, the further discussion will include the approach adopted for launching the new product without having support of the company. It will also include the ways in which characteristics of the product can be communicated.//

New business launchers can be classified as entrepreneur and intrapreneur. In today's world, everyone is entrepreneur or intrapreneur. Intrapreneurs are those who have capability, ideas and also availability of resources whereas entrepreneurs find their own resources. The most important think to be considered before launching a product is right direction to think, plan and value for work. In above case, more focus should be given on Intrapreneurship.

Non-contact thermometer is a new product for the market. It is difficult for the new launcher to create the position of its product in the market. It is very important to create an opportunity for the new product by delivering performance, productivity and profitability. As a new product launches, it is my wish either to create a new path or to follow some already established path. The two starting trends that affect the future performance are to understand the fact that you ...

Solution Summary

The response addresses the queries posted in 1681 words with references.

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