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Critically analyse the main components of a New Product Development process

Oct 23, 2018 | 0 comments

Oct 23, 2018 | Essays | 0 comments

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Assessment Task: (2000 words)
Critically analyse the main components of a New Product Development process and recommend ways it can be integrated into your strategic growth report as a renowned innovation organisation. Your report should include a risk analysis that identifies the potential risks involved in the new product development process.
Learning Outcomes
• Identify the difference between invention and innovation and how innovation can be successfully implemented to achieve growth in an industry
• Demonstrate a critical awareness of the different models of innovation and how they apply to an industry case studies
• Evaluate the role of systematic risk management in the successful implementation of innovation
Reflection (500 words)
Assessment Task:
Critically discuss the benefits and advantages you have derived from the completion of the Innovation & Risk Management Module.
Marking Criteria
Critically examine the task set at the beginning of the module involving an innovative company.
(Marks: 20)
Describe in detail and analyse the research process undertaken during the completion of this reflective log and explore how it was applied to your industrial case study.
(Marks: 40)
Use the techniques discussed in class as a basis of your research work and highlight the personal challenges and benefits you have experienced during the implementation of your research strategy and the writing of your coursework on this module.
(Marks: 40)
FORMAT
• IDEA GENERATION
• IDEA SCREENING
• CONCEPT DEVELOPMENT & TESTING
MARKETING STRATEGY DEVELOPMENT
BUSINESS ANALYSIS
PRODUCT DEVELOPMENT
• MARKET TESTING
• COMMERCIALIZATION
• PRODUCT LAUNCH
• CUSTOMER ADOPTION
• Findings
• Conclusion
• References

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