Bringing New High-Technology Products to Market - 275 Words

Bringing New High-Technology Products to Market: Six Perils Awaiting Marketers (Essay Sample) Content: Bringing New High-Technology Products to Market: Six Perils Awaiting MarketersStudents name Institution AbstractIn 2016, millions of users downloaded PokÐ ¹mon Go, a reality video game app. The company experienced immense success which is rare in technology products. Marketing technology products is not easy since there are several obstacles, uncertainties, and compatibility issues that have to be addressed. Moreover, technology products experience various challenges in terms of network effects, ecosystem complexities, and competition. The article highlights several aspects that marketers can use to addresses various market issues and problems.Keywords: PokÐ ¹mon Go, technology product IntroductionIn 2016, millions of people downloaded the PokÐ ¹mon Go product when the company first released it. The exceptional adoption of the product in the market was outstanding. However, marketing high technology products is complicated due to uncertainties in the market, comp atibility issues, network challenges and ecological complexities (Dhebar, 2016). Nevertheless, marketers have come up with necessary steps to address these challenges. This paper will analyze challenges faced by technology development companies, possible solutions, opportunities as well as weaknesses.History and GrowthPokÐ ¹mon Go is an app that was developed following the partnership between Niantic and Nintendo, which formed the PokÐ ¹mon group. The application uses the phones Global Positioning System (GPS) to establish, capture, fight as well as guide creatures virtually through an application known as PokÐ ¹mon. The company offers the game for free, but if one needs additional features, they have to purchase them. When the app was first released, the company received criticism and praise in equal measure. To begin with, those who criticized the concept felt that the company overlooks several technical issues. Despite various challenges, the app was downloaded by more than 500 million users across the world, making it to be the most successful application in 2016 (Dhebar, 2016). This was no mean feat given that there were several technical challenges, especially when dealing with technology. Moreover, reaching the 500 million mark shows that the marketers did a tremendous job. Marketing an app is not an easy task especially in this era why there are numerous competing forces, low supply, and increased consumer sensitivity. Analysis of external environmentThe main forces that influence the market adoption of an app include market demand, app store requirements and changing customer tastes and preferences (Truong et al. 2017). PokÐ ¹mon popularized location-based technologies, promoted physical activities and helped local businesses to expand owing to increased traffic. PokÐ ¹mon was not only innovative, but the invention opened up several business opportunities for investors (Dhebar, 2016). Nevertheless, there were several controversies in the sen se that it caused distraction and caused public annoyance. Several governments raised concerns about security issues while other countries opted to regulate the use of the app in their countries (Dhebar, 2016). However, this was extreme as the use of the app depends on an individual. Life is about choices, the preference one takes in life determines various things. For example, the view that using the app raises security issues is unfounded since the app is specifically a game, how is a game a security concern? Why does someone allow himself to get carried away by a game? However, despite these challenges, the app has since been downloaded over 370 million times to date. Strengths, weaknesses, opportunities and threatsThe app had several opportunities, first of all, one can form and modify their avatar. Moreover, once an avatar has been created, it is captured directly in a map based on the player's physical position (Dhebar, 2016). This aspect makes people identify with the app an d draws more customers to download the app.Another opportunity for PokÐ ¹mon is that they can use the location-based feature in their app to market different products. This feature allows marketers to provide highly customized promotions that are specifically designed for a particular market (Dhebar, 2016). This aspect is an opportunity which the company can exploit by getting various companies to market their products through the app, which means that a revenue stream for the company is created. Moreover, while using the location-based feature, companies can understand their clients better since they can align specific strategies depending on the client's demands which enable the company to find even more clients (Aydalot Keeble 2018). However, the main weaknesses are that clients may fear that the product can be used to spy on them. There are several substitutes and competitors, in the technology world, moreover, several uncertainties exist regarding product development, proc edures, distributions, and even competitors. The technology world is indecisive in itself; this is because new and better technologies are being developed on a daily basis (Dhebar, 2016). This aspect makes the technology industry to be the most unpredictable. The major threat is that there are several technologies that arise right and left. For example, the person who invented the rat trap expects clients to come and acquire the device, however, another person will use poison to eliminate rats which means there will be no demand for a rat trap. Likewise, another enticing game can be developed from an entirely different industry which can surpass the current app. This means substitutions can be a primary cause of uncertainty (Keeble Wilkinson 2017).However, the company can still be competitive by developing more new and intrusive features that can attract more clients to use the app. This way, the app will survive and surpass the uncertainties in the market. Moreover, the company is already established in the market. Therefore, it has more opportunities to be the market leader compared to new apps which are not yet set in the market. Most technology products are designed to be used alongside complementors; this complementors worsen the already uncertain market. Different companies develop these gadgets and have its targets and interests. Additionally, there are competitors to those complementors which causes further uncertainties (Aydalot Keeble 2018). What the company ought to do is to design their unique complementors. This will enable the company to wade off stiff competition in the market. Moreover, developing their own complementors will give the company exclusive powers to determine the design and other complimentary features on the product. Technologists also grapple with bumpy markets since they are not sure of how the product will be received in the market. Additionally, development of the app has its own challenges in terms of coding which can af fect date of release. Other issues which developers are forced to deal with include the uncertainty in terms of quality, negative effects of the product, and the fact that the future performance of the product is uncertain (Jin, Jeong Yoon, 2015). However, technology should be gauged based on the market. Therefore, any ambiguity in terms of how the technology will perform will be addressed. Additionally, prior studies should be conducted about market demands and requirements. This will allow app developers to become informed of what the market expects from them. Hence, resources will not be wasted in terms of workforce inputs, time, and money. Analysis of the findingsCustomers tend to believe that new technologies are hard to use, however, what developers should understand is that clients gain value when all sections of the system connect well (Truong et al. 2017). Additionally, all system accompaniments should be designed to go with the evolving designs. This will ensure that th e gadgets used to compliment the program are also classy and attractive to consumers. Moreover, the app should be accompanied by a help menu that can guide clients. This will allow customers to refer to the list whenever they need any clarification. The network effect should also be addressed; most apps have challenges of the network. Developers should, therefore, design their apps to auto connect to the net whenever there is any form of intermittencies (Jin, Jeong Yoon, 2015). This will ensure tha...