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Case Studies » Featured Case Studies » Case Studies » carsales.com.au: Effective business strategy for online success - Developing new products

carsales.com.au: Effective business strategy for online success - Developing new products

Developing new products

New product development is a vital expansion strategy. A typical process is highlighted in Figure 4below.

For carsales.com new products are developed which are attractive to car buyers, sellers and advertisers. These could relate to new niche websites or improved search and match technologies.

Underpinning effective new product development is the need for market research. This can occur in a number of different ways. Firstly carsales.com looks at their peers in other related industries, both in Australia and overseas. These provide a benchmark of technology applications for carsales.com to measure themselves against. Secondly, they keep a close watch on emerging technologies and consider their application to the business. Thirdly, carsales.com might commission independent, third party research to support its own internal research. And finally they tap into the thoughts, ideas and comments expressed within social media.

 

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Associated with:
Learning Area(s):
  • Business Environment | Developing organisational culture
  • Business Environment | Measuring business performance
  • Business Environment | Significance of business
  • Business Environment | The business life cycle
  • Business Structure and Organisation | Organisational structures:overview
  • Change Management | Change issues for business
  • Change Management | Strategic planning
  • Communication | Effective communication models
  • Communication | Technology and communication
  • Entrepreneurship/Innovation | Fostering innovation within business
  • Entrepreneurship/Innovation | Innovative business
  • Entrepreneurship/Innovation | Product/service innovation
  • Entrepreneurship/Innovation | The role of the entrepreneur
  • Management and ICT | The impact of technology on business
  • Marketing | Market research methods/analysis
  • Marketing | Marketing analysis and segmentation
  • Marketing | Marketing evaluation including use of KPIs
  • Marketing | Product development
  • Marketing | Promotion strategies and their application
  • Small Business | Small business and entrepreneurship
  • Small Business | Starting a small business
From: Edition 6

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