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MMGP #6-Question 6

MMGP #6-Question 6

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Uber’s New Product Screening Process

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Uber’s New Product Screening Process

The screening of a new product in the organization illustrates a change altogether. In this regard, the firm requires having in place a decision that it will not regret. In addition, a form wants not to ignore a decision option that would be beneficial. Uber aims at making the best decision that could enhance more competitiveness in the market (Powers, Rinefort & Jain 2016). The role of screening is to ensure that the decision made and the product adopted solves certain problems of the firm. There are various factors that need to be assessed in determining the effectiveness of a product.

The communicability and believability of a new product need to be determined. In this regard, the firm requires communicating the benefits that the firm could get by adopting the new product. The need level also needs to be determined. In this case, one considers if there is a problem the firm faces that the product could solve effectively (Johnson, Friend & Lee 2017). It is also important to determine if there is a need gap. This means if there are other products that solve the problem halfway or the gap readily present. The perceived value needs to be determined at the screening process. In this case, the price of the product ought to be higher than the cost incurred to create it. Other factors to consider include the purchase option as well as the target customers.

In regard to the Uber new product, the above factors play a major role in the final decision. The new product screening process enables Uber to adopt a product that solves a specific problem (Morgan 2014). This way, it could meet the demands of the customers in the market and therefore promote profitability. Communicability, perceived value, user targets and gap level are mandatory considerations.

References

Johnson, J. S., Friend, S. B., & Lee, H. S. (2017). Big data facilitation, utilization, and monetization: Exploring the 3Vs in a new product development process. Journal of Product Innovation Management, 34(5), 640-658.

Morgan, H. (2014). Venture capital firms and incubators. Research-Technology Management, 57(6), 40-45.

Powers, B. W., Rinefort, S., & Jain, S. H. (2016). Nonemergency medical transportation: delivering care in the era of Lyft and Uber. Jama, 316(9), 921-922.

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