Assignment Task
Task
Assignment
Using an existing business/brand that manufactures products targeted at a retail consumer market, you are tasked with identifying new market opportunities within existing or new sectors or completely new market spaces. These opportunities may take the form of completely new product ranges as well as the adaption or extension of existing ones. first you need to conduct a thorough analysis of their current competitive position, evaluating key strengths, weaknesses, opportunities and threats of their existing product portfolio, operational competencies and capabilities, as well as marketing and brand strategies.
Building on this you will then identify what you believe the key product development opportunities are for the businesses, providing a detailed analysis and evaluation of your findings as well as highlighting the main activities required to operationalize and implement them. it is important that you draw on key theories, quality peer reviewed literature, business models and key tools and techniques relating to new product design and development as well strategies needed in the new product introduction process as this will help guide your analysis and support your ideas for the future.
Remember be objective and detailed in your analysis and support your ideas and arguments with strong theoretical evidence.
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Learning Outcomes
This assignment tests your ability to:
1. to assess customer needs and the related market constraints and opportunities within the appropriate time and competition framework and be able to evaluate the financial and legal implications;
2. identify and fully analyse the stages in the product development and life cycle, in terms of time and resources;
3. have a critical awareness of modern computer tools for product design, evaluation and manufacture, and critical understanding of their place and role in the various stages of product development;
4. critically appraise and identify types of design and evaluation tools and processes, to draw up strategies and the project plan, and to select the optimum tools;
5. critically understanding the global context and in particular low-cost manufacturing issues and import / export opportunities.
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