Jasmine Sprayberry Week 5 Product Final

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Feb 20, 2024

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1 Product Development and Pricing Jasmina Sprayberry Colorado Christian University MKT-460A- Product, Development and Pricing James Douglas August 23, 2020

2 Product Development and Pricing Before any product is developed it starts off as a concept or idea. There are different stages that are incorporated in product development. We must identify the need in the market, present and design the product, develop a minimum viable product release the product and integrate user’s feedback. Smart speaks are extremely common with millions of people owning them. On November 16 th , 2016 Google Home smart speaker was released. This is a device that enables users to speak voice commands, it is a virtual assistant. Google Home is a device that is voice activated and it’s connected to the internet. This a device that is always listening but not recording, It need commands such as “Hey Google” or “Ok Google” to properly function. “Google Home is Google's entry into the smart home hub field. It is a small speaker tower that is activated via voice commands. Google Home can search the web and perform other functions added by third-party Actions.” (Vigliarolo, 2016). As much as Google Home seems to be a consumer product it is actually very much so useful in business settings as well. While most consumers will utilize a Google Home device for information and entertainment. It's usable by anyone wishing to explore the growing smart home and office markets. Google Home is designed as a hub for internet of things and media devices, giving Google a lot of leverage since it can choose its partners. Businesses can use the different features to automate smart offices and extend their market reach. Every year there are many new products introduced to the market. Product innovation by definition is solving a problem consumers have. There might not be any products on the market that address issues or there are these types of products but address issues in different ways. When creating a new product we must always ask ourselves, is it relevant, better than the competition, and is the innovation of the product obvious? Product innovation is very important it helps create

3 new spaces in the crowded market. “By identifying the gaps and imposing yourself into a new space, you can find an audience and satisfy consumer needs in a way that is new and refreshing.”(Ghelber, 2020.) Product innovation doesn’t always involve a totally new product. For example, Amazon Alexa was launched a few years before Google Home. Alexa is also another smart speaker just through Amazon. When Google Home was innovated it was definitely not the first on the market. Innovation also happens when we look an existing product and add better, and more features. When we talk about innovation and “Blue Ocean” we are saying that competition is irrelevant. (Kim & Mauborgne, 2015) define blue oceans as unexplored market spaces associated with high potential profits. Since the launched of the original Google Home has improved the design, coming out with a Google Home mini and the Google Home Nest. Some of the major capabilities of all of the Google Home products are that they are all hands free, you can have multi users, get direct answers from Google. You can link music accounts, or use Google music suggestions, manage everyday tasks, control your home, such as lights. Google Home smart speakers are compatible with Chromecast. The most current Google smart system or speaker that has launched is the Nest Hub Max. This was designed with smart display, it is perfect for making video calls, leaving video messages, controlling connedted home devices. At 7 inches tall and 10 inches wide, Nest Hub Max is a great addition to any countertop, shelf, or shared space. The Nest Hub Max comes with two microphones, 10-inch HD touchscreen display, speaks are crisp to hear though the household. It is available in two different colors, comes with built in camera. This device was designed to look like somewhat like a mix between the original Google Home and a tablet. Utilizing this device within a business can be beneficial too. Some of the ways companies are video call for meetings, product demos, training. There are many work places that could benefit from hands-free control like this, ranging from a doctor's office to

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4 a commercial kitchen. The Nest Hub Max can be used for daily employee tasks. The privacy is secured via face recognition.

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7 References The Holy Bible, new international version. (1984). Grand Rapids: Zondervan Publishing House. Vigliarolo. B (October, 2016). TechRepublic. Google Home. Retrieved from https://www.techrepublic.com/article/google-home-the-smart-persons-guide/ Ghelber. A (December, 2020). Revuze. What Is Product Innovation and why is it so important for brands. Retrieved from https://www.revuze.it/blog/what-is-product-innovation/ Blue ocean strategy: How to create uncontested market space and make the competition irrelevant .

Jasmine Sprayberry Week 5 Product Final

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