The Role of Lead Users in New Product Development Essay

The Role of Lead Users in New Product Development - Essay Example This paper discusses that given the dynamic environment within which the marketing activity is carried out, there is no gain saying the fact that product innovation occupy a very prime position in the quest to maintain relevance in the market of a modern economy. As the report stresses lead users maybe defined as a sample population of a manufacturers intended market, who get to use a new product before it is actually launched in the market and name generally available to every would be user. A very important indicator of the health of a company is its customer satisfaction index. This all important indicator can be known only after a thorough market analysis, which can be achieved when the lead users approach is adopted. The ultimate aim in the mind of manufacturers is to make sales and by extensions make profit considering that more sales is a strong indicator of a company’s performance at any given time. Lead users aid market research because it results in systematic gathering, recording and analysis of every data concerning the response of the consumers to the new product. These are the potential customer base of the company and how they react is an indicator of market tendencies and effective business plans can then be created by the manufacturers. The most likely portion of the population to patronize the products are exposed via this approach to market analysis. At a very early stage product downsides are discovered and improved upon.

How to reduce turnover and retain qualified associates at walmart Research Paper

How to reduce turnover and retain qualified associates at walmart (specifically management, in rural stores) - Research Paper Example Contributing to Wal-Mart’s high employee turnover rate are the characteristics of the jobs they offer, such as low hourly wages, inadequate benefits, constantly changing schedules, and little possibility of advancement. (Lichtenstein and Johansson, 2011) Obviously, these characteristics will not attract the most qualified or career oriented applicants (i.e. recent college graduates). According to Danny Baisden, Co-Manager of the MacArthur, West Virginia, Wal-Mart, â€Å"we will need to replace 30% of our work force in the next year, management and hourly associates. We also have a current shortage of associates. The stores hands are tied and are not able to negotiate with current applicants on salary and benefits. This makes the stores less competitive†. (Baisden, 2010) In West Virginia, more than 25 percent of the state’s 980,000 working-age adults (25-64 years old) hold at least a two-year degree, according to 2008 Census data. This compares to a national average of around 38 percent. Attainment rates in West Virginia are increasing modestly, even though the proportion of degree-holding young adults — those 25-34 years old — mirrors that of the overall adult population. (Lumina Foundation for Education, 2010) Many recent graduates are turning down good job offers, holding out for better jobs and salaries in the belief that a college degree entitles them to more than entry level," says Ogunwole. "In today's job market, that's just not realistic." (2009 College Grads Moving Home in Large Numbers, 2009) However, an entry level position with very good probability for advancement may be much more attractive to these recent graduates and other well qualified individuals. In order for Wal-Mart to attract better qualified applicants, some policy changes must be made. For example, Wal-Mart could create a system where employee wages increase with the amount of time associates are employed with the company and with an employee’s skills and experience. (Lichtenstein and Johansson, 2011) Wal-Mart could also offer their employees better benefits, such as less expensive health insurance. Another suggestion would be to provide employees with more stable schedules so that they are not constantly ch anging. Wal-Mart could also create more hourly positions which include greater responsibilities, training and higher wages for those positions. Finally, Wal-Mart can provide their employees with better opportunities for advancement within the company. (Lichtenstein and Johansson, 2011) Methodology In order to determine whether the suggested changes will reduce employee turnover rates, perhaps they can be implemented in one store or one geographical area such as the store in MacArthur, West Virginia. Once changes are in place for some time (i.e. one year), Wal-Mart will be able to see whether or not they have an effect on employee turnover rates. Study Subjects Subjects for the study may include associates currently employed at the store. College students in the area may also be subjects for the study. Data Collection Before making changes, current Wal-Mart associates could complete questionnaires regarding what they believe is important, would be most beneficial to them, and increas e the likelihood of them remaining with the company. Wal-Mart may also want to survey college students in the area in order to determine what would make employment at Wal-Mart more attractive to them. Once this data is collected and analyzed, these questionnaires can provide the company with a better of understanding of their current employees’