“Newness” of the new product

Choose ONE company and discuss a potential NEW product that they can introduce into the market by 2025. One of the objectives of the new
product is to increase the market share for the company.

Elaborate and provide detailed information about your new product as below:

1. Discuss the “Newness” of the new product

2. The value proposition of the new product.

2.1 Problems (pains encountered by customers).

2.2 Gains (benefits your customers wants)

3. Commercialisation (Target Market , Channel & Revenue Model)

4. Discuss the growth strategies in the Ansoff’ s Matrix that can be opted to influence the growth of the proposed product throughout

its product life cycle.

 Considerations When Developing a NPD Strategy:
Applying Ansoff’s Matrix for Growth Strategy

There are a number of ways in which organisation can grow and one of
the strongest ways of identifying the variety of growth options available
to a business is using Ansoff’s (1965,1968) matrix. This matrix suggests
four alternative marketing strategies.

Critically discuss and explain how the organisation can apply these
strategies to grow its business.
(30 marks )
 Topic : New Product Development Process

Given an innovative new product idea , by choosing a product as an

illustration, describe what are the key stages involved in bringing
this new product from ideation to commercialization?

(30 marks )