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Question: describe how alibabas tmall innovation center tmic benefits firms new...

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Describe how Alibaba’s Tmall Innovation Center (TMIC) benefits firms’ new product development process. (See attached article). What can firms do to increase the likelihood of successful new product launches in foreign markets?

AT&T 12:12 PM 53%- XHow Data from Alibaba.pdf DOW JONES How Data From Albaba Helped Make Fruity Listerine and Spicy Snickers Lse Lacy S October 2018 Copyright 2018. Adweek Uisterine moutthwash has been available in he USsinoe 1879 But its parent, healthcare company Johnsn &Johnson, found Chinese Eneer Alibabas Tmal Innvion Center, or TMIC, which works with brands to develop new products eacted poorly to esisting omulations of its ohnson& Johnson worked with TMIC to learn that Uisterinestarget audienceyoung Chinese wo new products in China during Albabas upcoming 1111 Global Shopping Festival or Singles Day.during which Aiaba sold That makes Rarguably the biggest shopping day in the wold By way of comparson, U8 retalers made ou 55 biion on Black Friday 2017 and 6 6 bilion on Cyber Monday, acoording s0 Adobe Aibaba says henew Listerine products were created in five months Products co-creaned by TMIC are sol encunively on Tmal, Albabas B2C marketplace for two months Eaer this year, candy company Mas worked with TMIC to areate a chilHnfused Snickers bar ch,TMIC found Chinse Combined wh Mars rula the Onese word tor าnting and spicy, is gong in wiing try chocolate wth some heat arty Theretre. Chinese consumers were Leveraging the insighs we got rom he collaboration we connected a flavor loved by 41 peroent f Chinese consumers with our oocolate said Walace Du. head ol digital commence at Mars and the companys Cina Digtal Innovition Cener in a releme From its debut in August 2017 to mid-Manch 2018, sales of Snickers Spicy surpassed RMB 9 mon 31.43 Aibaba says hese examgles showcane ts newest brand offering product development As a means to this end, TMIC partnered with 10 data analytics ims-including Kantar and Nelsen- eisting product line, predict upcoming trends, ind new Gemand and create products to meet hat demand TMIC has also worked wih P&G Matel Unlever LOrial Estee Lauder, Shiseido and Samsung Aibaba says brands working with TMIC have out the length of their product development cydies in halt, at the same tmemitigating the risks of misjuiging consumer tastes and preferences in faled proaucts Tmal ains to help every brand speed up its product R&D, innovation process and tme to-market reduing Page 1 of 1 2018 Factiva, inc. Al rights reserved Open With Print
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