COMM 320 Lecture Notes - Lecture 14: Overnight Delivery, Outsourcing, New Product Development

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Ke(cid:455) de(cid:448)elopi(cid:374)g i(cid:374)(cid:374)o(cid:448)ati(cid:448)e p(cid:396)odu(cid:272)ts that a(cid:396)e(cid:374)"t (cid:862)(cid:373)e too(cid:863) p(cid:396)odu(cid:272)ts entering an already saturated market. Get p(cid:396)i(cid:272)e a(cid:374)d (cid:395)ualit(cid:455) (cid:396)ight (cid:272)o(cid:374)su(cid:373)e(cid:396)s (cid:449)ill pa(cid:455) (cid:373)o(cid:396)e fo(cid:396) highe(cid:396) (cid:395)ualit(cid:455) and accept lower quality for a lower price. Co(cid:374)du(cid:272)t o(cid:374)goi(cid:374)g feasi(cid:271)ilit(cid:455) a(cid:374)al(cid:455)sis fo(cid:272)us g(cid:396)oups, su(cid:396)(cid:448)e(cid:455)s. Additional versions of same product to appeal to different clientele. Related products to appeal to same clientele. Replies (other than fax/email) should be communicated through some form of overnight delivery or airmail. Set up file with lists of names from foreign inquiries. Be polite, courteous, and respectful and avoid using business slang. Personal meetings should be with people of equal rank. Levels the playing field between smaller and larger firms. Results in more face-paced collaborative approach to growth. Me(cid:396)ge(cid:396)s pooli(cid:374)g of i(cid:374)te(cid:396)ests to (cid:272)o(cid:373)(cid:271)i(cid:374)e 2+ fi(cid:396)(cid:373)s i(cid:374)to o(cid:374)e. A(cid:272)(cid:395)uisitio(cid:374)s out(cid:396)ight pu(cid:396)(cid:272)hase of one firm by another. Key areas to focus on when acquiring: Ta(cid:396)get fi(cid:396)(cid:373)"s ope(cid:374)(cid:374)ess to the idea of (cid:271)ei(cid:374)g a(cid:272)(cid:395)ui(cid:396)ed. Compatibility with management team and corporate culture.

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