New Product Development and Managing Innovation June 2024


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Assignment Sample Solution: New Product Development June 2024

NMIM$ Global Access

School for Continuing Education (NGA-SCE)

Course: New Product Development and Managing Innovation June 2024

Internal Assignment Applicable for June 2024 Examination


  1. Explain the different product lifecycle stages. Describe the characteristics of each phase in terms of product familiarity, sales etc. and provide a product example for each stage.

(10 Marks)


  1. Creating a ‘new product strategy’ prior to initiating the concept development phase is a fundamental component of launching new products. Picture yourself in the Product division of a leading multinational automotive manufacturer. The company intends to introduce a moderately priced mid-range version specifically designed for the Indian market. In this example’s context, assess the strategy utilizing two strategic planning models: the Ansoff Matrix and the BCG Matrix.                                                                          (10 Marks)


3a. What are the advantages for companies in conducting competitor analysis? Elaborate on

Porter’s Five Forces model with an industry-specific example to illustrate its application.

(5 Marks) 3b. List and elaborate the 4 different types of innovation? Explain by providing an example from products/industries of your choice for each type.                          (5 Marks)





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