In: Operations Management
design an executive summary for product innovation (juicer)
Executive Summary for Product Innovation
Product innovation helps the organization to compete in new markets. Relative advantage, Compatibility, Trialablity, observability, complexity are five attributes helps in product innovation.
Product Description
Juicer is an instrument used to extract juice from fruit, vegetables etc.
Target Audience
Juice bars, Restaurants, Home bakers etc.
Competition
Juicer market is fragmented with serval players. Each and every one is competing to provide better service, additional features and quality assurance to the customers or clients to gain market position.
Opportunity/ Risks
Powerful motor capacity helps to overcome overheating
Safety locking arms ensure that the juicer does not operate without lid.
Conclusion/ Recommendations
The growing health consciousness among customer helps to increase the sale of the product.
Increasing numbers of juice bar helps to increase the sale.