Research On Product Development Strategy Of WL Electric Appliance Company

Over the past 40 years of reform and opening up,China’s household appliance industry has developed rapidly,its R & D and manufacturing strength has been rapidly improved,and its cost advantage is obvious.A number of internationally competitive household appliance giants and a large number of small and medium-sized household appliance enterprises with rapid response capabilities have emerged.At present,the whole household appliance industry shows a pattern of "the strong are always strong and the weak are always weak".The competition in the home appliance industry is fierce,with creativity,cost and speed.Without scientific product development decisions and standardized management,it is easy to cause new product development to be arbitrary,cost and progress to be uncontrollable,resources to be repeatedly invested or expected goals to be achieved,and finally new product development to fail.However,the small and medium-sized household appliances enterprises accounting for more than 80% of the total number generally lack a sound product development system,which makes it difficult to make scientific decisions and limits the long-term development of enterprises.As a member of many small and medium-sized household appliance manufacturing industries,WL electric appliance company faces the same problem.Based on the theories of competitive strategy,product development strategy,this dissertation takes WL electric appliance company as the research object,adopts the research methods of literature research and enterprise investigation,analyzes the problems in the product development strategy of WL electric appliance company through PEST model,Five Force model,SWOT matrix and other analysis methods or tools,summarizes its advantages and disadvantages,and formulates the product development strategy of WL electric appliance company.This dissertation reviews the development process of WL electric appliance company,summarizes its existing problems and challenges: oligopoly of home appliance enterprises leads to shrinking market space;Due to the lack of systematic and scientific product development strategy,product development is not accurate,innovation is weak,and it is difficult to survive by relying on low-cost competition.In order to change the current situation and enhance product competitiveness,WL electric appliance company needs to formulate a longer-term and suitable product development strategy to improve the success rate of new product development.In view of the different industrial positions of the washing machine,refrigeration and microwave oven business units of WL electric appliance company,different development strategies should be adopted.The washing machine and microwave oven business department is not in a high position in the industry.It focuses on OEM\ODM Sales and should adopt a follow-up product development strategy to obtain more orders through cost leadership and efficiency drive.The status and scale of the refrigeration division are in the second echelon of the industry.Ice making machines and ice cream machines should adopt a follow-up product development strategy,while refrigerators and small household appliances for personal use should adopt a leading product development strategy,using semiconductor refrigeration technology to develop small household appliances suitable for the younger generation,so as to maintain a sustainable leading position.In addition,the implementation safeguard measures of product development strategy are also proposed.This study points out the strategic direction and way for the product development of WL electric appliance company,and analyzes the key factors that affect the success of the company’s product development,so as to provide reference and inspiration for the product development of WL electric appliance company and other similar small and medium-sized household appliance enterprises.