New Product Development Process and Comparison with Black & Decker Corporation - Case Study Example

Black & Decker Corporation Student Name: Course name: Instructor Institution of affiliation Date Black & Decker Corporation Introduction It is the dream of each organization to be associated with the most successful products in the market. As a result, organizations strive to use the best ingredients for their products as well as the most efficient and cost effective process. In other words, organizations strive to have the best practice in product development. Product development in any organization involves numerous steps. In order to create the next product in the company, there has to be a development process involved. The first and most important step is for an organization to identify the form of innovation needed in the new product. Despite being an involving task, the management of innovation is evident when a breakthrough is attained. The new form of product must be designed in such a way that the product innovation fits into organization’s needs currently. With the available resources, organizations can then design the product development process which could be incremental. Product design involves also incorporating the needs of the clients through observation and user feedback on what their expectations of the product and its functionalities would be. Consequently, the organization will have done much in dealing with the competition while considering affordability, return on investment and the distribution of cost. This paper discusses the processes of new product development and compares this to the process used by Black & Decker for its Compact power-innovation in the cordless professional drill and driver. New Product development process and comparison with Black & Decker Corporation Each organization has to identify the form of innovation needed in the new product and define the best new product idea. After realizing the new product idea, screening should compare the new product with the new products from top competitors to understand consumer concerns which steer the way for concept testing[Dec10]. Concept testing evaluates consumer needs to understand the service. Furthermore, the new product development process is then put under business analytic metric for progress monitoring like new product value. After product development, marketability tests are done through launching of beta prototypes tested through test panels. The intention is to attain valuable information that would allow improvements. With the improvements the, product development then incorporates technicalities needed to come up with the best final product. While the new product is in the market, the organization has to observe regular commercialization through advertisement refreshment such that the product remains in the minds of the customers. Furthermore, the product in the market has to be constantly reviewed such that the pricing finally becomes perfect. This new product development is comparable to the process used in Black & Decker for its professional cordless power drills and drivers[Bland]. In the development of the new product, Black &Decker Corporation put into consideration external factors like competition from Bosch, Makita and Panasonic who had already developed the power drills and drivers[Dec10]. Based on the response from consumers about the new product from Black&Decker, the grips were more comfortable as they were cushioned while the handles were more compact. Additionally, the B&D power drills were also characterized by efficient motor design that was characterized by assisted cooling that meant higher power output compared to competition. Furthermore, the commercialization of the product was improved by the design whose features stood out even as the product sat in stores for display. B&D also put into consideration the use of product and market testing to in order to assess the user response and improve their model as well as concurrent engineering to keep adding new features to its product[Bland]. Common characteristics of great projects For companies like B&D, the projects are characterized by superior and exceptional value for the customer. According to, great projects also provide the consumer with exclusive advantage over competition. For B&D, superior product value and exceptional product competitive advantage are key consideration. With a competitive market that was highly crowded, B&D gave great value to innovation towards award-winning products. Since 1946, the company has been associated with numerous ground breaking innovations that have seen it win numerous awards. In order to achieve its products, B&D ensures that the necessary time is taken to define the product needed through competition identification, ensuring that users’ needs are well incorporated into the new product. For B&D, there is clarity in the design process which revolves around defining product goals and evaluating how viable such products are through continued testing for market function, quality and fit. Furthermore, B&D is characterized by revolutionary culture for its projects. In 1961, B&D Company managed to introduce the first cordless electric power drill which was followed by a cordless surface drill in 1971. The great innovations in cordless power appliances influenced the company’s tendency to develop more cordless products in numerous areas. The use of cultivated organizational culture of developing cordless products at B&D is a great way of utilizing the existing knowledge while considering the knowledge available in the market. This demonstrates the greatness of the B&D products which take the market to a stun. B&D first invents on the knowledge which involves adapting technology components from previous projects coupled with the knowledge gathered from market competition to develop very competitive products. Since the first innovation of cordless product in 1946, B&D has taken advantage of market competition, user response from similar previously developed product to come up with new products that squarely meet the needs of the users. However, B&D should improve the demonstrated slow problem-solving capacities especially in the development of new products where new and existing knowledge slacken completion. Concurrent engineering to speed product development Bogus, et al. [Bog] defines concurrent engineering forming cross-functional teams to create room for managers from numerous functional departments to work together simultaneously in product development and design. This is achieved through identification of opportunities that overlap and that are sequential so as to manage information transfer between the involved activities. The outcome here is the reduction in the time used to develop a new product to completion[Yas03]. The best approach to concurrent engineering ensures that all design satisfies the expectations of the customer in terms of cost, quality, speed or response time and time to market, requirements of the user and productivity. Additionally, concurrent products engineering addresses the issues related to product life cycle from the design phase to the time the product is in the market for sale. Concurrent engineering is essential given that it offers organizations the ability to rapidly respond to market demands both responsively and efficiently. Since most of the costs are committed to the project during onset, it is important that different departments input their efforts to complete tasks in parallel while correctively working on all project parts. In addition, concurrent engineering ensures that team concept is triggered while individualism is suppressed and competent persons are entitled to oversee the project as they have the overall goals and vision of the project[Bog]. The attainment of the cordless professional drill and driver was as a result of concurrent teamwork that involved teams from the United Kingdom and the North American team[Des97]. While the United Kingdom or UK team worked on the motor, Elu housing and transmission, the North American team worked on switching, DeWALT housing and the energy house. The use of a cross functional approach to product design was a clear way of ensuring that the product’s time to completion was lowered and that the cross-functional talents were properly utilized. As a result, the different parts of the B&D cordless power drill and driver ensured that there was continued progress revision to promote the tracking of numerous design problems and continually refine the goals. Qualities of the Black & Decker Cordless Drill For their qualities, the cordless professional drill and drive was an innovation that moved B&D Corporation a great mile in the market for its design as a cordless professional power tool. The product was not only credible but was also very appreciated in the market to become the choice product for the majority of the market. Since the product was intended for introduction in the market after products from other competitors, the design beat the competition in numerous dimensions including weight, ergonomics, energy supply, size and power[Des97]. From the power drill and drivers in the market, the power supply was corded and this meant that using the product required one to have a power connection. However, with the cordless drill and driver from B&D, there was no power cord to connect to the power source and this meant that the product could be used from any position. Additionally, compared to other power drills and drivers in the market, the cordless driver and drill was smaller in size and lighter in weight which offered numerous advantages especially during use as one did not have to lift heavy weight. Having used the Elu and DeWALT brands, the cordless driver and drill was designed in consistency with these professional signatures and this made it more convincing to the buyers in North America where the DeWALT signature was used and UK where the Elu signature was used. Furthermore, the design was such that the handle was compact while the grip was cushioned. While the customers were exposed to very uncomfortable handles and grips, the B&D product was incomparable with evident merits once the product was held in the hand[Des97]. For commercialization, the product was designed to have readable features and controls huddled such that it was distinctive even when at the display. Innovation at Black & Decker Corporation Since time in memory, B&D Corporation has focused in ruling in the market through award winning innovations[Bla14]. For this company, the evolution has been from a small shop in Baltimore to a universal marketing and manufacturing powerhouse. Today, B&D Corporation is characterized by a very wide range of high quality products. Additionally, the once power drill only company has introduced power tools accessories, domestic cleaning products, automotive and lighting products, technology-oriented fastening systems. The innovations in B&D have been triggered by the proposition of definable and sustainable value and the fact that there is an associated achievable global cost [Bla14]. Again, B&D Corporation’s market has been linked to accelerating growth that has seen the organization venture into businesses defined as higher margin. Apart from focusing on cordless drills and drivers, B&D Corporation has taken up product and services diversity that has facilitated the development of world class branded franchise. As a result of its unparalleled brand strength, B&D Corporation has become a global footprint with the scale of the largest tool company universally. Innovation at B&D Corporation is also founded along highly engineered solutions that distinguish the company’s innovativeness and creativity. The five major areas of proven innovation at B&D Corporation are security, infrastructure, tool consolidation, engineering fastening and emerging markets. In order to facilitate a successful stream of new products, B&D Corporation adheres to an aggressive, customer-oriented marketing strategy. This strategy is helpful as it customers offer sufficient feedback and response that not only drives product quality but also innovative value and design. One example of high quality and innovative design products is the 1971’s Apollo Lunar Surface Drill that was used mission NASA Apollo 15 team to extract core samples on the surface of the moon. This tool was also used in Apollo 16 and Apollo 17 missions. Other innovative tools include the Dustbuster range with new cylinder Vac and the new cordless 14.4V Scorpion saw and GEL TECH mouse[Bla09]. Apart from overseeing the innovations in its products, B&D Corporation has also developed and implemented an all-new centennial logo. In terms of competition, B&D Corporation has managed to overcome all to remain a pacesetter in the design and implementation of power tools, accessories and other power equipment. Consequently, the company has managed to establish a world class brand characterized by a legacy of customer trust and loyalty[Bla09]. Conclusion To attain the best products, organizations strive to encourage innovation in different teams which then work together to promote the overall productivity. This paper compares the best practices in product development to the product development process used by Black & Decker Corporation to the production of cordless drill and driver. The comparison demonstrated that with good product development practices like concurrent engineering, product development process duration is minimized and companies manage to respond rapidly to consumer needs. Bibliography Dec10: , (Lens, 2010), Bland: , (Black and Decker Corporation, n.d), Bog: , (2005), Yas03: , (Yassine & Braha, 2003), Bog: , (Bogus, et al., 2005), Des97: , (Design Management Institute, 1997), Bla14: , (Black and Decker, 2014), Bla14: , (Black and Decker, 2014), Bla09: , (Black and Decker, 2009), Read More