Unit 6 AS: Product Development
The purpose of this assignment is design and assess the process of developing a new product for the global marketplace.
Take a new product idea and carry the new product through a new product development process for the global marketplace. You may have to use your imagination in certain phases.
The paper should be 2 to 3 pages in length (excluding title, appendix, and reference pages). This writing assignment should be completed in the standard APA format. Upload the assignment to the proper assignment folder.
The writing assignment should include the followings:
Please describe the product and how it works? (50%)
A smart wireless printing machine that can print documents without being connected to a computer using cables. The device uses bluetooth or WiFi to collect information about the document to be printed, and can print documents from all dimensions as instructed. It is designed with ultra high speed so that it can print over 100 pages per minute.
Do you think your product has a chance of success? What factors would be critical to the success of the product? (30%)
Yes, the product has a high chance of success. Business customers such as government institutions and universities who print large documents require a high-speed printer that can be operated remotely to save time and resources. The critical success factors for the new product include: planning, marketing, quality, price, and customer service. If the product comes with good quality and fair price, the customers will prefer it over other alternatives in the market. Good marketing that combines direct selling and traditional marketing with digital marketing will ensure that customers are aware of the new product.
What additional information do you need to be able to make the idea work? Where would you get the information? (20%)
Additional information needed for the success of new product include: competition, customers’ characteristics, industry regulations, and external factors. The company should know the offerings and business strategies of competitors in order to identify a good marketing position.
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