New Product Development: Trican Filtration Group Essay

Question:

Discuss about the New Product Development for Trican Filtration Group.

Answer:

Introduction

Trican Filtration Group Inc. is a company in Canada which started its operations in the year 1988. For the last 30 years Trican have provided enhanced air filtration products and solutions for both industrial and commercial sector. The air filtrations that are developed by the company helps in protecting the equipment and enhance the quality of indoor air by ensuring the removal of microorganisms, VOC’s and particulates in the work environment. The company helps to reduce the respiratory problems and several illnesses and health issues that are caused due to the poor air quality present in the work environment. The company aims to deliver those products which will help in protecting the people at low energy costs, reduce their waste and help to provide longer life times and enhanced performance. The company uses recycled materials in their construction whenever possible and features green initiatives in their products. Trican also believes in being attentive to their customers and provide the best customer service possible so that their users get the peace of mind that they deserve. The company works to the best of their ability to provide the best quality products and services to their customers.

SWOT Analysis

The new product that has been developed by Trican is carbon filters for vehicle exhaust. The technology used in this product have been derived by MIT to extract carbon from CO2 that have been released from vehicles.

The strength of this product is as follows (Sundarrajan et al. 2014):

  • Regulates the carbon dioxide emissions that are released from a car.
  • Uses algae and sodium hydroxide filters so that most of the CO2 does not get emitted in the atmosphere.
  • These filters provide cleaner fuel and also helps in protecting the physical atmosphere and helps in reducing pollution.

The weaknesses of this product is as follows (Bui et al. 2013):

  • The product is quite expensive, hence not affordable for every person.
  • Needs to be changed almost five to six times in a year for proper usage.
  • Requires time to manufacture due to the complexity of the product, hence can be late to supply the demands of the people.

The opportunities of this product is as follows (Khajavi et al. 2013):

  • Can be a major breakthrough product to reduce the carbon emission in the air.
  • Help in reducing the illness and respiratory problems of the public.
  • Can be one of the most sought after product for car users.

The threats of this product is as follows (Gross 2016):

  • Since the price is quite high, users might refrain from purchasing the product as the maintenance cost is quite high.
  • Lack of regular supply may create a negative impact on the purchase of the product.

Strength

· Regulates CO2 emissions

· Uses algae and sodium hydroxide to control the release of carbon in the air

· Provides clean fuel and clean environment.

Weakness

· Expensive

· Needs to be changed five to six times a year

· Complex manufacturing, hence supply might not meet demand

Opportunities

· Major breakthrough product

· Helps reduce respiratory problems and illnesses

· Most sought after product for car users

Threats

· High price of product may stop the public from purchasing the product

· High maintenance cost

· Lack of regular supply creates negative impact in the buyers

Implementation

The new product needs to contribute to the growth of the business hence the product should be implemented in the market very carefully. A complete internal testing should be first done and then an external testing to ensure the effect of the product. The carbon filter is a necessity among all car users, however, it should be kept in mind that since the product is expensive, and not every person with a car might be able to afford it. It should also be kept in mind that the product needs to be changed at regular intervals in a year. Hence, positioning the product properly is very important as that will ensure the sales and the distribution of the product (Mellor, Hao and Zhang 2014). To establish the proper marketing of the product endorsements are a good idea as this will help in the expansion of the idea of the product to every person.

Evaluation and control

The evaluation of the product after the implementation is very important as this will help to understand the success of the product in the market (Cooper 2013). Feedbacks should be taken from the users and proper methods should be taken, if there are any complaints regarding the product.

References:

Bui, T.S., Kim, J., Jung, E., Le, H.S., Nguyen, N.T. and Bae, J.Y., 2013. High optical density and low dielectric constant black matrix containing graphene oxide and carbon black on color filters. Displays, 34(3), pp.192-199.

Cooper, R.G., 2013. New products: What separates the winners from the losers and what drives success. PDMA handbook of new product development, pp.3-34.

Gross, M., 2016. A planet with two billion cars.

Khajavi, R., Bahadoran, M.M.S., Bahador, A. and Khosravi, A., 2013. Removal of microbes and air pollutants passing through nonwoven polypropylene filters by activated carbon and nanosilver colloidal layers. Journal of Industrial Textiles, 42(3), pp.219-230.

Mellor, S., Hao, L. and Zhang, D., 2014. Additive manufacturing: A framework for implementation. International Journal of Production Economics, 149, pp.194-201.

Sundarrajan, S., Tan, K.L., Lim, S.H. and Ramakrishna, S., 2014. Electrospun nanofibers for air filtration applications. Procedia Engineering, 75, pp.159-163.

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