New Product Development

Final Term – 3rd Term

• Conduct a video interview with a service type of business (will be discuss at the class).
• The following questions shall be asked:
o What motivated you to start this business and how has it evolved over time?
o How do you identify and understand the needs of your target customers?
o What strategies do you use to differentiate your services from competitors in the
market?
o Could you describe any specific service bundles or packages you offer and the rationale
behind their creation?
o How do you determine the pricing for your service bundles and individual services?
o What advantages and disadvantages have you experienced with service bundling in your
business?
o How do you ensure the quality and consistency of your services across different
customer interactions?
o What steps do you take to stay updated on industry trends and evolving customer
preferences?
o Can you share any successful customer stories or testimonials that highlight the value of
your services?
o How do you handle customer feedback and ensure continuous improvement in your
service offerings?
o What marketing strategies do you employ to promote your services and attract new
customers?
o Have you faced any challenges in scaling your service-based business, and if so, how
have you overcome them?
o How do you recruit, train, and retain skilled employees who deliver high-quality
services?
o What role does technology play in enhancing your service offerings and customer
experience?
o How do you measure the success and effectiveness of your service bundles and
individual services?
o Can you share any examples of how you have customized services to meet specific
customer needs or preferences?
o What customer retention strategies do you employ to encourage repeat business and
build long-term relationships?
o How do you manage service demand fluctuations and maintain service quality during
peak periods?
o Could you describe any partnerships or collaborations you have established to enhance
your service offerings?
o What steps do you take to ensure compliance with relevant regulations and industry
standards?
o How do you stay ahead of competitors in the market and remain innovative in your
service offerings?
 o What are your plans for future service development or expansion into new markets or
customer segments?
o Can you discuss any social or environmental initiatives your business undertakes to
create a positive impact?
o How do you maintain strong relationships with suppliers or vendors who support your
service delivery?
o What strategies do you use to build trust and credibility with your customers in a
service-based industry?
o How do you ensure data privacy and security for your customers' information in the
digital age?
o Finally, what advice would you give to aspiring entrepreneurs looking to start a
service-based business?

• VIDEO CONTENT
o Company Background
o Service Offerings
o Interview
o Synthesis of the Interview
o Answer the following questions:
▪ What service improvement should the company implement? Discuss.
▪ What new service should the company develop? Discuss.
▪ What new service bundles should the company still create? Discuss.
o Conclusion

• VIDEO GUIDELINES
o Minimum of 720p resolution.
o Must include error-free subtitles.
o Wear proper business attire
o 15 - 30 minutes presentation
o Transcript documentation of full interview will be submitted – online (leader only) with
members/leader evaluation

Criteria for Judging a Video

1. Communication of Purpose and Context.

2. Clear and concise Interview.
3. Creativity and Appeal of the Video.
4. Explanation of Results, Conclusions, and Potential Impact to BSBA-MM
5. Overall Presentation.