In the rapidly developing environment, companies should gain a competitive advantage through the NPD strategies since the most technologically leading organization achieves increased capacity and efficient production processes. Referring to Kazimierska and Grebosz-Krawczyk, digital tools and innovations, including “computer-aided design, engineering, and manufacturing (CAD/CAE/CAM) tools,” are implemented almost in all stages of product development. Usage of IT technologies may increase the company’s capacity and generate desired results in a short period. Technological innovations are the key factor toward competitive advantage in the rapidly emerging market. It will help Mingle to achieve increased capacity and better interaction with consumers in terms of marketing development.
FFE requires deep analysis and information search in order to identify the best opportunity and come up with a well-structured decision-making process. Based on the research work conducted by Bjork and Magnusson, a well-structured and developed information technology system is essential in idea generation and NPD. A high level of digital tools helps to analyze large amounts of data and collect information more efficiently. For instance, an IT database creates a good platform for innovative ideas collected from the company’s employees. In addition, data analysis provides a better understanding and knowledge of customers’ preferences. Mingle can conduct marketing research in order to come up with an innovation strategy and identify the market’s needs. Therefore, FFE processes, including design and analysis, may be improved by digital tools by gaining increased efficiency and effectiveness in terms of NPD.
Technological tools allow to launch of new products faster than competitors and provide good marketing campaigns and efficient production. According to Kim and Wilemon, the success of NPD significantly depends on the right timing and technological innovations used by the company. Production highly depends on the technological aspects of Mingle since new production innovation practices will help to achieve economies of scale, higher product quality, and decreased cost. Mingle’s marketers should analyze potential consumers and collect as much information as possible. Digital tools will help apply bog data analysis, launch SMM, and design more user-friendly ad attractive campaigns to catch customers’ attention, especially during the introduction and growth stages of a product cycle.
