As a new product manager you have been asked to identify a suitable new product/service for you organisation. At this stage, your manager has requested an interim report which identifies a suitable opportunity and a recommended new product concept. In your report include: A brief description of the organisation and the market it operates in. Select a potential opportunity which could be exploited by the organisation, and justify its selection. Generate two new product concepts, provide a clear explanation of the concept and illustrate how they are connected to the opportunity. Evaluate the two new product concepts and recommend one new product concept for the organisation to take forward into the next stage of full screen testing. Your evaluation needs to consider factors such as fit with the strategy, technical and marketing feasibility. Please note you are not expected to undertake Market Research
for this project. However, the evaluation needs to be substantiated using credible sources such as journal articles and reports. Provide recommendations. This assignment focuses on the early stages of the new product process, in particular stages 1–3. You may choose to base this on your own organisation or an organisation you are familiar with, or a fictitious company. Ensure you support your discussion with relevant journal articles and reports.
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