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Instructions NPD Activity

The document outlines the stages for developing a new product for a chosen company, including: 1) formulating ideas by identifying problems, solutions, and criteria for the best idea, 2) more in-depth concept formulation including a business model, 3) developing prototypes or specifying service characteristics, 4) testing the market through surveys or interviews, and 5) presenting the new product development to the company's management committee by November 29th or December 13th in a creative presentation.

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Ana Sevilla
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29 views1 page

Instructions NPD Activity

The document outlines the stages for developing a new product for a chosen company, including: 1) formulating ideas by identifying problems, solutions, and criteria for the best idea, 2) more in-depth concept formulation including a business model, 3) developing prototypes or specifying service characteristics, 4) testing the market through surveys or interviews, and 5) presenting the new product development to the company's management committee by November 29th or December 13th in a creative presentation.

Uploaded by

Ana Sevilla
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Instructions:

Within your group, prepare a new product development (NPD) for a company of your choice:
Stages of the process:
1- Idea formulation

- What problems do you want to solve? List the top problems and look for solutions.
- Specify the source of the ideas for innovation
- Define the criteria to decide the best idea.

2- Concept formulation
- Develop in depth the best idea obtained from the previous step. Deep dive!
- A business model Canvas can be useful.

3- Product development
- Develop the prototype in the case of products. For example, you can draw the product
with details. In the case of services, you can specify the characteristics of the service.
Take into account the concept formulation developed in the previous stage.
4- Test marketing
- Obtain information from the market through interviews, online survey, observations
or others.
5- Presentation to the management committee of the company chosen
The group will need to present their NPD the 29th of November or the 13th of
December. Presentations should be creative!

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