Course Project: New Product/Service Development Plan
The Course Project requires you to practice the development of a new product/service. You will have to generate your idea for an innovative, new product/service. Ideas come from many sources – your imagination, recognizing a void in the marketplace, changes in environmental factors (political, economic, social, technical), friends, relatives, and so on. Once you have the idea, you need to focus on the necessary condition to turn an idea into a developed customer product/service. To that end, you will need to focus on competitors for your innovation and how you will position it versus them. Market-research techniques that fit your innovation should be described, and you may find information in chapter 6 of the text useful . Finally, you will determine the best product-development process and launch strategy for your innovation.
Week 1 – Product/Service Idea (graded-see grading rubric).
Week 4 – Submit report sections 4-6 (graded-see grading rubric).
Week 7 – Final Course Project (graded-see grading rubric).