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CaseStudy NovaTech

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Abi Gehyl
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460 views2 pages

CaseStudy NovaTech

Uploaded by

Abi Gehyl
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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PERFORMANCE TASK

Case Study: Revitalizing NovaTech's Product Line

Background:

NovaTech Inc. is a mid-sized technology company based in Silicon Valley. Established in 2005,
NovaTech specializes in consumer electronics, including smartphones, smartwatches, and home
automation systems. Over the past five years, the company has seen a decline in revenue and market
share, primarily due to increased competition and a lack of innovation in its product offerings.

The company's flagship product, the NovaPhone X7, once a market leader, has recently struggled
against competitors like TechGenius and ElectraCorp. Sales have dropped by 20% over the past
year, and customer feedback indicates dissatisfaction with the phone’s battery life and software
features.

Currently, NovaTech's leadership, which includes CEO Clara Thompson and Chief Product Officer
Raj Patel, is deeply concerned about the company's future trajectory. Facing a significant downturn,
they are contemplating a major overhaul of their product line to address declining sales and market
share. The company is evaluating several potential strategies to rejuvenate its position. One option is
product innovation, which involves developing a new flagship product incorporating cutting-edge
technology such as advancements in artificial intelligence, augmented reality, or improved battery
technology. Another strategy under consideration is market expansion, aiming to enter new
international markets where NovaTech's presence is currently limited, potentially adapting the
product line to cater to regional needs and preferences. Brand revitalization is also on the table, with
a focus on modernizing NovaTech’s image through a new marketing strategy designed to appeal to
younger consumers. Additionally, forming partnerships and collaborations with other tech
companies or startups could help leverage new technologies and expand the company's product
ecosystem.

However, NovaTech faces several challenges. Financial constraints are a significant concern, as the
company has a limited budget for research and development (R&D) and marketing due to recent
financial difficulties. There is also technological uncertainty regarding the feasibility of integrating
new technologies into their products. Compounding these issues is the competitive pressure from
major rivals who have already established strong market positions and innovative features.

The company’s objectives are clear: first, to improve its market position by reclaiming lost market
share and enhancing its competitive edge; second, to increase customer satisfaction by addressing
current product shortcomings and meeting evolving consumer expectations; and third, to ensure
financial viability by making decisions that balance innovation with cost-effectiveness.

In addition to these strategies, NovaTech is contemplating a reorganization of its R&D department


to better foster innovation. The company has also recently invested in a new marketing analytics tool
that offers insights into customer preferences, which could inform future strategies. Furthermore,
there are discussions about potential collaborations with tech startups focused on green technology
and sustainability, which might offer additional avenues for growth and innovation.

Assignment:

As a consultant for NovaTech, your task is to analyze the situation and propose a comprehensive
strategy to revitalize the company's product line. Your analysis should include:

I. Facts of the Case


II. Problem
III. Solution
IV. Recommendation
V. Description of the future state.

The output should be encoded with the following specifications:

Size of the Paper: A4 size bond paper


Top Margin: 1.5 inches
Left, right, and bottom margin: 1 inch
Font style: Garamond
Font Size: 12
Spacing: Single spaces
Paragraph: Justify
Apps: MS Word

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