New Product Development and Managing Innovation NMIMS Assignment December 2024

NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: New Product Development and Managing Innovation
Internal Assignment Applicable for December 2024 Examination
Assignment Marks: 30
Instructions:
• All Questions carry equal marks.
• All Questions are compulsory
• All answers to be explained in not more than 1000 words for question 1 and 2 and for question 3 in not more than 500 words for each subsection. Use relevant examples, illustrations as far as possible.
• All answers to be written individually. Discussion and group work is not advisable.
• Students are free to refer to any books/reference material/website/internet for attempting their assignments, but are not allowed to copy the matter as it is from the source of reference.
• Students should write the assignment in their own words. Copying of assignments from other students is not allowed
• Students should follow the following parameter for answering the assignment questions.
1. Explain the different product lifecycle stages. Describe the characteristics of each phase in terms of product familiarity, sales etc. and provide a product example for each stage. (10 Marks)
2. Creating a ‘new product strategy’ prior to initiating the concept development phase is a fundamental component of launching new products. Picture yourself
of a leading multinational automotive manufacturer. The company intends to introduce a moderately priced mid-range version specifically designed for the Indian market. In this example’s context, assess the strategy utilizing two strategic planning models: the Ansoff Matrix and the BCG Matrix. (10 Marks)
3a. What are the advantages for companies in conducting competitor analysis? Elaborate on Porter’s Five Forces model with an industry-specific example to illustrate its application. (5 Marks) 3b. List and elaborate the 4 different types of innovation? Explain by providing an example from products/industries of your choice for each type. (5 Marks)
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