I will need my initial discussion post and two classmate responses done.
Read the article, “An innovative product development plan: Passion for stopping meningitis inspired collaboration around the globe” and then answer this question:
- Why is an explanation of the product development important for this particular product?
In your response to other posts, relate their comments to your team’s development plan. Did you read anything helpful for your product development plan?
To complete this assignment, review the Discussion Rubric document.
1st classmate response needed
An explanation of the product development for this product is very beneficial. As Barringer (2014) put it, “if you are developing a nonexistent product… you’ll need to include a chapter that describes the design and development of the product.” This product was not a non-existent product in general but it was a nonexistent product at that price point. Barringer (2014) said, “a startup must also have a credible plan for ramping up the production of a product to satisfy the sales estimates in its financial projections.” Explaining what all went into the product development and how they were able to achieve the intended results while staying within the price point was very influential to the credibility of the company.
Barringer, B. R. (2014). Preparing Effective Business Plans (2nd Edition). Pearson Education (US). https://mbsdirect.vitalsource.com/books/9780133773620
2nd classmate response needed
This is a good question and I think we’ll see a wide array of answers depending on each person’s experiences and angle.I believe the point of a product development plan for this product is to highlight the team’s efforts and motivations. Comparable to a semi-philanthropic sales pitch. The focus was on developing an affordable (for African households) vaccine and cost was explained multiple times throughout.They want the world to know what this multi-agency achieved. The primary project manager company, being from India, also brings attention to this developing nation. When you think back to the 70’s, Asian countries weren’t considered to have the ability to produce technical products such as automobiles and now Toyota and Honda cars hold some of the highest resale values because of their reputation of dependability.Serum Institute of India Private Ltd. is highlighting their growth and development. How better to do that then help an impoverished country battling a Meningitis outbreak with an affordable vaccine.I look forward to hearing everyone’s responses.