Overview
Format: Individual
Word limit: 2000(+or-10%)You have been employed as an innovation consultant at a successful Australian beverages company attempting to break into the Australian/Global market with a premium product (functional beverage).
Management have identified that despite the organisation being successful they do not have any formal innovation processes and have requested that you recommend and develop some formal systems/processes for the proposed new product.
1. You have been briefed to develop a model to help determine new product project priorities that will narrow down concepts to those that are superior and a good company fit, i.e. a full screen.
2. You have also been asked to make sure Marketing and Research & Development are clear as to what they must do to develop the concept i.e. a product protocol.
3. It is expected that you apply the models to the current proposed new product launch into Australia to show management how they would work. You will need to justify why these models and any other tools should be adopted by the organisation as some functional managers are not convinced that a more formalised new product development process is necessary based on current success.
Suggested structure
Executive summary: 250 words (not included in the word count)
Table of contents: (not included in word count)
Introduction: 150 words
Body of the report: 1000 words i.e. (Full screen, product protocol)
Conclusion: 300 words
Recommendations: 300 words
References: Not included in the word count
Appendix: For information, not central to your report, not included in word count
Other considerations:
You are expected to use the text and wider readings to demonstrate you have a sound understanding of the theory and concepts of new product innovation/development as well as any practical implications to be considered when implementing the new processes/models.
Consider your audience. What would the company CEO/board want to know?
Useful resources:
Crawford, M., (1984) Protocol: New tool for innovation management, Journal of Innovation Management, 1(2) 85-91.
Crawford M., Di Benedetto, A., (2015) New products Management,15th Edition, McGraw-Hill Irwin, Boston. The Full Screen Chapter 10 (243-259).
White, S., (2018) Innovation Feast,1st Edition, Grammar Factory, ISBN 9780648137245