Also known as product management, new product development is a broad concept for all the students studying marketing and management. Talking about the process, it entails several other stages or steps that need to be taken into consideration while studying this subject.
In today’s generation, product management has intersected with multiple disciplines of study such as business, finance, accounting so on. This is the reason, nowadays, several students are getting drawn towards our online new product development assignment help experts. Owing to the vast scope of the subject, Assignment Hippo maintains a reliable panel of professional academic writers who looks into all the queries of students related to this subject and furnishes them with comprehensive reference answers.
8 Steps of New Product Development Process
As discussed, new product development is a process. Naturally, there will be different stages involved in the process. Our marketing assignment help experts have been dealing with all the steps and helped students understand them with ease.
Through our intricately-designed assignment solutions, every student gets a better understanding of each of the steps, which enables them to prepare better assignments.
Following are the 8 steps of the new product development process.
The first and the most important step in developing a new product is to carry out internal and external SWOT analysis. It is also important to study the current trends in marketing to get hold off the competitors. Once done, it is easier to generate new ideologies that are based on affordability, ROI and other costs in the process.
In the first step, lean, mean and scalable are some of the key pointers to keep in mind.
For each idea, there must be a set criterion based on which the decision to continue or stop the idea must be decided. In the screening of ideas, marketeers get clarity upon the limitations/challenges associated with each product and work upon them to improve the situation.
There is a huge difference between concept testing and test marketing. In concept testing, the design and other legalities involved in the design are looked upon. In addition to this, our New Product Development assignment help experts also focus on understanding whether the message being conveyed is what actually must be or not. The main aim of concept testing is to check whether the product is understood, needed or wanted by the consumers or not.
Business analytics is another core step in the NPD process, wherein the marketeers build a fixed set of metrics to regulate and monitor the progress. There are several input metrics like average time and output metrics like percentage of the new sale of products that need to be considered in this step.
The next step in the new product development (NPD) process is to launch beta versions for the product. This introduces an element of buzz to promote the product.
Technicalities and developing the product
After the beta testing, there exist several technicalities that need to be honed. Certain database preparations are mandatory for this and it is done in this step. In addition to this, estimating server resources and looking into automated logistics are also some of the technical activities that are carried out in this step.
This is the stage that is happening after the customers have purchased the product. The technical support team is already checking all the progress. Commercialisation involves maintaining loaded distribution channels and advertising about the product to keep it in the market.
Post-launch review and appropriate costing
The last and the final step in the NDP process is to consider the improvements in the product and work upon them. It has to be ensured that internal costs are always lesser than the profits by selling the product. Do you know about the factors required for the new product development success? Look in the image as shown below.
Before beginning with the BIAE2002 new product development assignments, students must know all of these factors. Are you confused about any of these? Then, it is the perfect time to get assistance from our online new product development assignment help experts. Want to know how to write an assignment on this topic? Our experts would now give a brief idea about this.
BIAE2002 New Product Development Assignment Sample
This is the BIAE2002 assignment sample that has been drafted by one of our marketing assignment help experts. This is a new product development case study assessment 2. In this assignment, four journal articles are given to students. After analysing the journal, students are supposed to answer the four questions given.
For answering the questions, our new product development assignment help experts make use of multiple concepts including the difference between cross-functional matrix, 4 requirements of a cross-functional team, stages of new product development, normal teams V/S cross-functional teams, 2 skills required by the cross-functional team members so on. This is just a brief of the entire solution drafted by us. If you need guidance in writing BIAE2002 New Product Development Assignments, then you just need to fill up the order now form. we will get back to you shortly with the complete solution for this file or any other similar assignment question file.
Place An Order at Assignment Hippo And Get Your Hands On Amazing Benefits!
Assignment Hippo is a trusted organisation that has made sincere efforts in the academic industry for ten years now. With our high-quality solutions, our assignment help experts have aided several students in combating all assignment-related queries within a jiffy. Our round-the-clock assistance is what has made us the most favourite firm of students for getting reliable academic guidance.
With comprehensive academic consultation services, we also put forth an amazing range of benefits for students. Following are some of them:
Dedicated mobile application
In this modern, techno-savvy world, where everything is available on our fingertips, how can Assignment Hippo stay behind? Owing to the fact, we have introduced a new mobile application for students. Now, it is even easier to stay connected to our experts 24*7 and get updated on every step related to the assignment order. No more waiting in long queues, just click on a button and you will straightaway be directed into the world of our experts.
Not only can you track each step using our mobile application, but students can also request for revisions on the go, in case they are not satisfied with the work.
So, download the official mobile application of MAS and get an even better and hassle-free assignment placement experience!
Even if you are not clear about any topic associated with your assignment, you can simply attend our live one-on-one sessions and request for relevant samples on that topic. We are a storehouse of a plethora of assignment samples, covering various topics and subjects.
Once you get an idea on the specific topics, it won’t take more than a few hours to complete writing the assignments. When students place an order with us, they are equipped with several samples to clarify all their doubts.
Over 2000+ PhD experts
Assignment Hippo is home to over 2000+ PhD subject-matter experts, in different subjects like nursing, management, economics, computer science, marketing and many more. Holding scholarly degrees from a plethora of elite institutions in the world, we also possess a great industry experience of more than a decade.
This is why every assignment that comes to us is catered by an expert who specialises in that particular area. Naturally, every solution drafted by us is the best possible version and is written strictly in adherence to the guidelines provided.