MINISTRY OF EDUCATION AND TRAINING

NATIONAL ECONOMICS UNIVERSITY

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REFLECTIVE ESSAY
Subject: Product Management

Instruction professors: Nicholas John.Shipley and Tran Viet An

Student: Lâm Thị Thảo Uyên
Student ID: 11208371
Class: Marketing Management 62B (AEP)

Hanoi, 2021
 The New Product Plan – Individual Reflective Essay

Product Management was taught as a vital basis for marketers in new product
development this semester since the process is difficult and requires teamwork. Our
case study for the online lesson on new product planning focuses on Xiaomi's pet
drying box - a Chinese designer and manufacturer of consumer electronics and related
software, home appliances, and household products. Our goal was to update the
product to make it more marketable in Vietnam. The learning process, as well as the
technical and marketing components of the course, will be discussed in this article.
To begin, I'd want to consider data resources relevant to our research. The new
product development process was discussed, as well as the stages involved in bringing
a new product to market. I learned about concept generation and consumer feedback.
According to the speaker, idea generation is the initial step in the development of a
new product. Because a company generates a wide range of ideas, personnel must
carefully investigate and analyze each one before selecting the best one through the
idea screening process. This stage, I learned, was one of the most important keys to
the future project orientations. For example, when I was a member of an academic
club's content department, my colleagues and I used to come up with interesting event
ideas. Because other clubs may be holding events with different topics that attract our
target consumers at the same time. The steps to concept testing introduced me to a
systematic process for generating the greatest ideas and removing roadblocks.
Secondary data, which was quite straightforward to obtain from internet database
resources. We were able to gather basic information from rivals using the data, but we
were able to acquire a better understanding of our clients and enhance our product to
fit their needs using primary data - online surveys. As a result, our team had a
conference to confirm the marketing factors to investigate before embarking on a
multi-day study. The survey, on the other hand, just shows the demographic element
and how the public reacted to the product; in particular, the survey was unable to focus
on the target segmentation in detail. I hope that when the pandemic Covid-19
disappears, I can hold interviews with particular customers to have deeper insights
about customer behavior in the future.
The next step in the process is to consider the project's viability. In session 8, I
learned about product design. I had a good understanding of the essential elements
concerning product levels (the customer-value hierarchy), which included core benefit,
generic product, expected product, enhanced product, and possible product, thus a
successful product required to fulfill product level requirements. It looked just like our
pet drying box. We defined modern characteristics and traits that were truly unique from
rivals' goods during the earlier stages of our initiatives, based on internal and external
resources. Despite the fact that Xiaomi Corporation is one of the world's largest
organizations, I cannot guarantee that all supplement qualities will be practical and
appropriate for the Vietnamese market, especially since the product will go through a
market penetration stage at first. A restaurant, for example, would not offer new meals to
its customers if the quality had not been checked unless it wished to get bad comments or
even worse consequences. Clearly, if the contemporary features that our team hoped to
incorporate into the machine would be able to address the issues raised by pet owners.
Because our team did not have access to a laboratory to test the product prototype. We
had no way of knowing how well it functioned or whether there were any flaws. It is
typical for technical examinations to be repeated several times. If our estimation was
incorrect, this might cause domino consequences in subsequent stages.
Furthermore, problem-solving is an essential component of collaboration,
although there are certain challenges. Our organization was separated into two smaller
departments because we believed that doing so would help us better allocate resources
and regulate overall productivity. To be more exact, each small group had three members,
and each one would elect a representative. Following the leader's presentation of the
strategy, members of two small groups were assigned to their individual jobs. This seems
to be corporate functional departments. Furthermore, representatives of each department
conducted regular meetings to discuss the shared job and to provide mutual assistance.
My partners and I worked together to create a clear graphic. My boss proposed in memo
2 that each department focus on parts relating to what we had done in memo 1. My two
colleagues in our department were in charge of risk analysis and market testing, while I
was in charge of product shape. Risks from external environments and internal harmful
features would be shown by someone doing a risk management research. I'd then create
product methods based on the information acquired. The next individual then proceeded
to schedule a market testing strategy. All helpful characteristics were documented and
transmitted to the second department during the testing. What struck me the most was
how quickly all team members were able to support and share information, as well as
comprehend the project's flow. I believe that the best way to address problems is to be
reasonable and to make team members feel at ease so that they can work efficiently.
Especially, I think a clear timetable can help all team members follow stages precisely
and accomplish tasks with the highest efficiency.
Overall, I was expected to passionately back my colleagues. Because there
were various faults in the Internet connections, regular contacts were challenging.
Nonetheless, we did our best to work with one another as much as possible, and I was
able to swap and share my valuable material resources with them if they needed them
along the plan. The most important thing I've learned from the plan, in my opinion, is
that I can establish relationships with people and that I can figure out a good way to
form a team. On the contrary, I believe I should not be afraid to seek guidance from
my lecturer and tutor on certain difficult problems with which I have had difficulty. In
the future, I shall make an effort to strengthen my bonds with my coworkers. I'll strike
up good conversation with new acquaintances, and we could figure out a method to
team-teach, like I did throughout the new product development plan, to relieve some
of the burden. I need to do this with the other instructors in the class since I can't
expect them to comprehend how I should be confident in asking teachers questions if I
have any. I also need to speak with my classmates in order to pick up additional study
ideas and avoid their mistakes, since I believe I will be able to learn from them.
References

C.Merle Crawford – C.Anthony Di Benedetto (2014). New Products Management:

McGraw-Hill Education

Robert G.Cooper (2011). Winning at New Products: Basic Books – a member of

the perseus books group New York

Philip Kotler ( Global edition). Marketing Management: Pearson

Reflective Writing. Reflective Essay: https://www.anu.edu.au/students/academic-

skills/writing-assessment/reflective-writing/reflective-essays

Reflective Writing: https://www.salford.ac.uk/sites/default/files/2021-

02/Reflective-writing.pdf