The New Product Development Processes
New Product Development Processes -1ZZ32 Assignment 1 (19 February 2013)
Develop two novel ideas for new smart‐phone applications (i.e. can be for I‐Phone, or Android based devices or in general for all smart‐phone types). Please try to be creative as much as possible while elaborating on this. Try to differentiate your new products (applications) from the existing applications on the IT‐telecom market. For each application please answer & discuss the following questions.
a. What are your main drivers to develop these two new applications? Explain. Provide multiple reasons that are linked with NPDP theory for your motivations. b. How would you classify these two innovations with Strategic Portfolio Model (Figure 3.8, page 72, Crawford and Di Benedetto) by using two dimensions: (i) product newness and (ii) market newness. Briefly explain the rationale behind your classification. Provide your reasons for both (i) and (ii) dimensions. c. What are your goals and objectives with regard to (1) profit (ii) growth and (iii) market status, of your new applications. Briefly discuss with your reasons and rational, considering PIC (Product Innovation Charter) requirements in the book (see: Crawford and Di Benedetto). d. What are the potential risks and challenges that you could face while developing and commercializing your new products (applications)? Briefly discuss considering the theory on PIC and Product Portfolio Analysis in the book. e. Please prepare/ give the concepts for these two new products. Briefly discuss your concept with consideration of form, technology and needs dimensions concerning your new applications.
Tip: It is important that you link your ideas to the theory that you have learned from your course book (Crawford and Di Benedetto, 2011) chapters 1,2 3, 4 and 5.
Written Report
Develop two novel ideas for new smart‐phone applications (i.e. can be for I‐Phone, or Android based devices or in general for all smart‐phone types). Please try to be creative as much as possible while elaborating on this. Try to differentiate your new products (applications) from the existing applications on the IT‐telecom market. For each application please answer & discuss the following questions.
a. What are your main drivers to develop these two new applications? Explain. Provide multiple reasons that are linked with NPDP theory for your motivations. b. How would you classify these two innovations with Strategic Portfolio Model (Figure 3.8, page 72, Crawford and Di Benedetto) by using two dimensions: (i) product newness and (ii) market newness. Briefly explain the rationale behind your classification. Provide your reasons for both (i) and (ii) dimensions. c. What are your goals and objectives with regard to (1) profit (ii) growth and (iii) market status, of your new applications. Briefly discuss with your reasons and rational, considering PIC (Product Innovation Charter) requirements in the book (see: Crawford and Di Benedetto). d. What are the potential risks and challenges that you could face while developing and commercializing your new products (applications)? Briefly discuss considering the theory on PIC and Product Portfolio Analysis in the book. e. Please prepare/ give the concepts for these two new products. Briefly discuss your concept with consideration of form, technology and needs dimensions concerning your new applications.
Tip: It is important that you link your ideas to the theory that you have learned from your course book (Crawford and Di Benedetto, 2011) chapters 1,2 3, 4 and 5.
Written Report