Research On Product Innovation Strategy Of PHW Refractories Company

With the acceleration of economic development,the frequency of product renewal is also accelerating.The development of new products is the key to the enterprise's ability to respond quickly to changing market demands,maintain market competitiveness,meet customer needs,and cultivate new profit growth points,thereby profoundly affecting the sustainable development of the enterprise.In this paper,innovation theory,innovation strategy theory and life cycle theory are used to systematically analyze and plan the development of new products of PHW refractory company.First of all,through field investigation,objective analysis of the current situation of PHW company product development,the product development of the internal environment,the core competitiveness of the product and made an evaluation of the new product development,from the upstream and downstream industry bargaining ability,potential into threats,replace the threat of products with the same industry competitors,four aspects: the pressure of the refractory industry of new product development environment are analyzed.Second,new product development process for PHW existing problems are analyzed,and found that the company's new products target market is only a vague concept,hindered the company new project follow-up development strategy planning,the lack of time to grasp the development concept,is the main medium refractories on product structure,there is no reasonable planning,technique and method of new product development is relatively backward.At the same time,there are four problems such as insufficient human resources,insufficient research and development funds,poor information sharing in the supply chain,and ineffective risk control in research and development.Finally,we made clear the principle of the new product development strategy and objectives,to design and optimize the PHW new refractory product promotion strategy,establish an targeted PHW new refractory materials four specific product development strategy,the target market to reposition strategy,portfolio management strategy,choice of development strategy and product development strategy,based on the theory of the life cycle for PHW company for product innovation strategy and promote the healthy development of enterprises laid a theoretical basis.