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New Product Development and Managing Innovation April 2024

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Assignment Sample Solution: New Product Development December 2023

NMIM$ Global Access

School for Continuing Education (NGA-SCE)

Course: New Product Development and Managing Innovation April 2024

Internal Assignment Applicable for April 2024 Examination

 

  1. Megamax is a large multinational mobile manufacturer. Assume that you are running a project for them with the goal of launching a new age mobile phone with cutting edge features as a competition to the iPhone. Explain how you would approach the strategy development using the 2 models of strategic planning – Ansoff Matrix and BCG matrix. (10 marks)

 

  1. What are the 4 stages of the product lifecycle? Pick up the example of the Telecom space and explain each stage with an example of a product that underwent / is undergoing a product lifecycle stage.                                                        (10 marks)

 

  1. a.One of the steps in new product development is Concept testing? Describe the significance of Concept testing in the context of an industry of your choice. If you were to look after NPD process, what typical steps would you follow as part of Concept testing?                                                                                          (5 marks)

 b. If in your role as a product manager, you are entrusted with launching new product in an existing market, what are the major types of products possible? Explain with an example for each.                                                              (5 marks)

 

 

 

 

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