- Introduction(250 words)Describe the product/service and the problem(s)you have identified with it from the consumers perspective. Describe your proposed solutions to fix the problem(s)
- Discussion(1000 words)
- A.Discuss why and how the problem(s)you describe warrants a new product developmentprocess using the following theories/conceptsin Lecture 2.1.Types of new product2.Customers’ (users of the products you use for this assignment) adoption cycle3.Prospect theory
- B.Discuss the new product development process needed to execute the solution(s) youproposed above, using models discussed in Lecture 3 (e.g., range of knowledge, capabilityanalysisetc)
- C.Identifyand analyse opportunities created by your proposed solution(s)for the currentcompany/brand that makes the product, using theories/concepts discussedin Lecture 4.Note: the product you choose should be from Amazon.com or have equivalent competingproducts listed on Amazon.Use Amazon for market data. All arguments in this sectionshould be justified by actual market data.
- D.Use theories/concepts in Lecture 5 to discuss thenew concept of theproduct/servicebuilt from your above proposed solution(s).This may include product and brand design,packagingand distribution.
- Conclusion (250 words)References and appendices (excluded from word count).
