Homework Answers
Answer 1) to develop the new product of security drone , the steps will be
- Step 1: Gathering the data about need of security and challenges of security specific to farm land
- Step 2:Generating the complete blueprint of the product development : the blue print can be developed my the internal and external data available from similar type of production
- Step 3: Screening the developed production blueprint ...
- Step 4: Testing the blueprint on pilot production level. ...
- Step 5: test the competitive products. ...
- Step 6: Develop a budget of mass production with specific Technicalities
- Step 7: Pricing strategy and pricing fixation
- Step 8: Post sales service
Answer 2) The success of product development depend on the co-ordination and relationship strength among different department , as a technical product like security drone needs very precise relationship among different departments.
Key relationship are,
- R&D and Technical team
- Technical and Production team
- Finance depart with other departments
- Marketing and production team
- Data analytics and technical team
Answer 3) Capital is ultimate need for any product development , the product can't be produced without capital.
here, need of fund can be at different stages as
- Fund for R&D
- Fund for data gathering
- Fund for technical design
- Fund for mass production
- Fund for marketing
- Fund for post sales services
Answer 4) The key challenges in such security and safety tools are
- Data update
- Technology development
- challenges from competitors
- Pricing problem
- after sales challenges
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