Product Development Company Background Precor Term Paper

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Some of the key strategies include outsourcing many of its manufacturing processes, collaborating with suppliers to implement design changes quickly and efficiently, and communicating these changes across the entire supply chain to support Just-In-Time (JIT) parts supply. Initially, Precor had its focus on integrated manufacturing strategies, performing every aspect of manufacturing from assembling own circuit boards to printing product labels and manuals in house. With the expansion and growth the need for rapid product development and quick response arose. Outsourcing turned out to be one big aid as a result of which manufacturing processes could be outsourced, freeing sparse corporate resources to hustle the introduction of new products.

Industrial Design is a major component of the product development process at all stages particularly related to fitness equipments from the initial idea to the production line. The design team has to look at the minutest details such as certain buttons and use of colors on any fitness product. All the four elements of industrial design that is color, form, details and graphic are looked into by the industrial design experts for the purpose of new product development. It's a process that considers the wants and needs of the community of exercisers and fitness freaks to deliver a product not just to meet but to exceed their expectations.

The product development team comprising engineers, biomechanics, manufacturing, assembly, nutritionists, fitness experts and gurus etc. At Precor stay together as a group that eats, drinks, and sleeps fitness product ideas for testing and reliability. They all work to implement regulations, and other pre-established standards. The whole product development team works day and night for reshaping the future of fitness.

Competitive Scenario

In order to understand the brand's worth and its activities one must also analyze what competitors are doing in the fitness business.

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Stairmaster is one such competitor whose standing is well-known. With products designed to meet the demands of customers, every product they make has passed rigorous testing for performance and functionality and meets the highest quality standards in the industry. Stairmaster's product development strategies are also famous for introducing new elements in the whole package. Innovative, biomechanically-engineered technology, space-efficient cordless designs, ease-of-use features, state-of-the-art consoles and integrated heart rate functions are just a few examples of Stairmaster's value-added product development. Schwinn is another American icon and a world leader in technology and fabrication on the forefront of advances in fitness equipment. Schwinn has been an indispensable player effectively making high-quality Schwinn products available where Americans shop most. They carved their niche by revolutionizing bicycling around the world. There are other players like Reebok that have also entered the market of fitness equipments and solutions. In the light of these different and dynamic players in the market a proactive product development strategy is must for companies like Precor.

The final product

With the aid of smooth processes in place Precor is working to give life to a final product that becomes a one stop shop for fitness. The product is not just about a machine rather it also includes nutritional solutions to aerobic lessons. The outsourcing strategy and the industrial design team at Precor help realize the mechanical part while other team member, marketers, nutritionists and fitness experts help add more value in the form of new ideas like weight monitoring and other needs. In a way Precor is finally moving towards mass customization and this big product idea is a move in that direction......

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