Reference no: EM132907070 , Length: word count:2000
MRKT13014 New Product Development and Branding - CQUniversity
Assessment
The third assessment task requires you to prepare a new product development plan for your new product/service from the second assessment task. You will present the new product development plan as a formal business report. This report should be 2000 words maximum excluding the title page and reference list.
Your new product development plan should include and address each of the following:
1. Title page
• The title page will include the name of your business/organisation and your new product/service, your name, student id number and lecturer/tutor name and campus (for on-campus students) and course name and code.
2. Executive summary
• The executive summary should not read like an essay. You need to highlight only those critical aspects from your new product development plan.
• Outline only the main findings and recommendations from the report.
• Use of sub-headings, dot or bullet points is recommended to better present the required information.
3. Table of contents
• The table of contents will present each section of the new product development plan, including sub-headings, with their appropriate page number(s). Sections should be numbered (e.g. 1.0 Introduction). The introduction begins on page 1. Pages prior to the introduction use lower case Roman numerals such as i, ii, iii, iv, etc.
4. Introduction
• The introduction should present a brief outline of the business/organisation and the proposed new product/service that is the major focus of this new product development plan. In addition, the aims and structure of the report should be presented.
5. Business analysis
• Define or describe your idea. What exactly is the product/service you want to develop?
• Identify your market. What will set this new product/service apart from your competition? What is the benefit of your proposed new product/service? What are your target customers' frustrations with similar products/services on the market?
6. Prototype testing
• Provide some ideas for making/building and testing your new product/service.
7. Marketing strategy and plan
• Provide a strategy for marketing your new product/service to your targeted customers. What is the USP? What will be the branding strategy adopted?
8. Product/service launch
• When, how and where will you launch the new product/service?
9. Reviewing the product/service
• How are you going to keep your share of the market after your product/service is launched? How do you innovate to keep yourself ahead of other products/services and businesses?
10. Intellectual property (IP) protection
• How will you stop competitors from copying your product/service?
11. Conclusion
• In your opinion, why do you think your new product/service is likely to succeed? What might hinder the success of your new product/service?
12. Reference list
• Using APA referencing style, the new product development plan should include at least ten (10) quality sources of information such as from academic journal articles, academic textbooks, trade journals, newspaper articles and industry/business websites.
Instructions
• This is an individual assessment (no groups).
• Submit your formal business report online through the unit Moodle site.
Your formal business report should contain the following:
• A single Word document (no PDF), including a title page, that addresses all the key parts above plus a reference list, using APA referencing style, showing use in-text of at least ten (10) quality sources of information such as from academic journal articles, academic textbooks, trade journals, newspaper articles and industry/business websites.
• Use size 12 font with 1.5 line-spacing in this Word document.
Skills
• A new product development plan is widely used by businesses/organisations to identify the process and timeline to design, create and build their products/services.
• This is a challenging assignment. It will provide you with the opportunity to undertake a significant piece of work with a practical commercial application.
Attachment:- New Product Development and Branding.rar