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MBA 580 Module One Memo.docx - Molly Jacob MBA 580 Module...

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Molly JacobMBA 580Module One MemoJanuary 07, 2022
To: Whom it May Concern:From: Senior ManagementDate: January 07, 2022Introduction:The purpose of this memo is to explain why the company should integrate IoT into itsproduct line using RWW (real, win, worth it) screening tool. In this memo we will discuss thefeasibility, the ability for the company to win market share, potential benefits of producing theproduct, and why IoT and connected cars are strategically important to the company. We want toanswer the questions of is this product real? Can we win? Is it worth doing? We will answerthese questions by looking at the discontinuous innovation recommendation. Thisrecommendation is to completely redesign an entirely new product and integrating technology.Real:We first want to answer is this product real? The product that the company is looking tointegrate is the internet of things (IoT). “It is estimated that the market for IoT-connected carswill grow from $54 billion in 2019 to over $510 billion by 2030 at 25% compound annualgrowth rate (CAGR) (Meola, 2020)” (CTO Brief, 2022). This shows that there is a growing needand growing market for the new product. The size of the potential market is adequate. GlobalMarket share for connected cars and trucks is predicted to grow 100% by 2030 (ComparativeGrowth Data, 2022). Our company’s predicted market share for connected cars and trucks is1.98% by 2030 (Competitive Growth Data, 2022). This means that our company needs to
accelerate their capability to innovate. The next question we need to asks ourselves to determineif the product is feasible is can the product be made? By 2025 our company will have 60sensors/30 computers in each product. According to George Day, author of Managing Risk andReward in an Innovation Portfolio, the product is real if: it has precisely described

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Term
Spring
Professor
N/A
Tags
Marketing, product line, Luxury vehicle, Compound annual growth rate

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