Dear students, get fully solved assignments by professionals
Do send your query at :
or call us at : 08263069601
(Plagiarism
proofed assignments available with 100% surety and refund)
New Product Development and
Managing Innovation
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)
Ans 1.
Introduction
In the dynamic
and highly competitive mobile manufacturing industry, Megamax stands at a
crucial juncture, seeking to launch a new-age mobile phone that rivals the
iconic iPhone. This endeavor necessitates not just innovative technological
integration but also a strategic approach to product development and market
positioning. To effectively navigate this challenge, two pivotal strategic
planning models come into play: the Ansoff Matrix and the Boston Consulting
Group (BCG) Matrix. These frameworks offer structured methodologies for
exploring growth opportunities and allocating resources efficiently. The Ansoff
Matrix helps in identifying potential
2.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)
Ans 2.
Introduction
The concept of
a product lifecycle is crucial in understanding how products evolve from their
inception to eventual decline in the market. This lifecycle is typically
segmented into four distinct stages: introduction, growth, maturity, and
decline. Each stage embodies specific characteristics and challenges that
businesses must navigate to maximize a product's success and longevity. In the
dynamic telecom industry, these stages are particularly evident, given the
rapid technological advancements and shifting consumer preferences. Products in
this sector, such as mobile phones, network services, and data plans, often
exemplify the
3a. 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)
Ans 3a.
Introduction
Concept
testing is a critical step in the new product development (NPD) process, serving
as a bridge between initial ideas and their tangible implementation. Its
significance is particularly pronounced in the technology industry, where the
rapid pace of innovation and high market competition necessitate a thorough
validation of product concepts before full-scale development and launch. This
phase involves evaluating the product idea with a target
3b. 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)
Ans 3b.
Introduction
As a product
manager tasked with launching a new product in an existing market, it's
essential to recognize the different types of products that can be introduced.
Broadly, these can be categorized as innovative products, improved products,
and me-too products. Each type has its unique positioning, challenges, and
strategies for market entry. The choice among
Dear students, get fully solved assignments by professionals
Do send your query at :
or call us at : 08263069601
(Plagiarism
proofed assignments available with 100% surety and refund)
No comments:
Post a Comment
Note: only a member of this blog may post a comment.