Chapter 11- Developing and Managing Products

Developing a product to put on the market is a vigorous process that takes step by step analysis. When a company decides to come up with an idea for a new product it takes a strong team, good timing, great value and last but not least profit. When introducing a new product my company Bp ask's its team a very profound question a question all good company's should ask and that is what can the product do for our consumers and who will be consuming it? Liquified Petroleum gas, Bio fuels,  Motor Fuels, Motor Oil and Lubricants  are all products that Bp produces yearly. I've taken a look at Bp Ultimate one of Bp's successful products. It got its success because its timing and location. It launch in 2000 but went through some type of a withdrawal because  of storage related issues and wasn't relaunch to May 2010. I say good timing because we all know in 2010 Bp went through one of its worst times with the Gulf Of Mexico oil spill and needed something positive to come out of all this. This was very vital for the consumers because it showed them that Bp even through rough times can still showcase there innovation skills. Bp has many type of consumers which spreads from your everyday car driver to motorist, road transport and professional drivers like race care drivers. The fuel is designed for better performance, lower consumption and less pollution. It also can keep new engines cleans and clean dirty ones, and reduces engine wear. Bp Ultimate is example of the commitment to the brand value. 

Moving on to a next product Bp calls Invigorate which also was designed to help cars run 'younger for longer' by providing a bottom-line cleaning effect on a cars fuel system. It was launched across the mid-west and east Gulf coast in 2008, following a pilot programme. The success was almost immediate, with sales of Bp gasoline exceeding the rest of the Industry by 2% and consumer brand rating increasing significantly in terms of perception of product quality and value for money. What was remarkable was that it occurred just as gasoline prices hit record highs and the economic downturn began to become dreadful. Beginning with the global fuels technology team to create the right base molecule, which would be added to all Bp gasoline, only with higher concentrations in the premium product. Also working with the marketing team who began consulting consumer focus groups. Naturally the strategy had to take into account public perception of Bp following the Gulf of Mexico oil spill but customer focus groups have also shown that while views of the company are lower, perception of product quality has increased slightly. The development and launch of Invigorate has strengthened Bp customer relationships and supported their sales volume through 2010.