Online Class Notes (Lily)[S]

In yesterday’s team meeting, I got a new task, which is to handle new product development. Today I’m go outside to know about the current marketing situation and client requirement. Our product is for home building. I’m shopping at 吉盛伟邦, and know some information like price, materials. If you want to buy some furniture, you can enter our app: lanehub. They asked me to do more study before the product development, we need to determine the right sale target price. Our existing product seems out of control. We recognize this problem, we are improving. We need more time to know about the market, and to make more data study for product and different brands.

First we need to list the competitive from local include foreigner brand. We need to see their product and price level. We define our client standard, which client is our target. For example, we have a high end product line, it’s between 35-45 years old, maybe they have pay ability and life quality expectation. This is our target client. Then we need to create our existing product, and create future product strategy.

Revised

We had a team meeting yesterday, I got a new task, which is to handle a new product development. Today I need to go outside to know about the current marketing situation and client requirement/ need. Our product is for home furnitures. I’m shopping at 吉盛伟邦, and trying to know more information like price, materials. If you want to buy some furnitures, you can download our app: lanehub. They asked me to do more study before the product development, we need to determine the right sale target price. Our existing products seem out of control. We recognize this problem, we are improving. We need more time to know about the market, and to collect more data and study the existing products and different brands.

First we need to list the local and foreign competitors brands. We need to evaluate their product and price level. We need to define our target market. For example, we have a high end product line which is targeted for consumers between 35-45 years old, maybe they have higher demand for better living quality. Then we need to create our existing product, and implement future product strategy.