This unit explores the journey from ideas generation through to the launch of a new product or service. It examines the processes behind new product development (NPD) and it also considers the potential risks involved.
1. Explain and demonstrate processes involved in new product or service development, assess the life-cycle stage of the products or services in a company’s portfolio and evaluate whether innovation, adaptation or renovation are needed for the individual products or services and design and pitch a new/renovated product or service.
1.1 Explain the processes involved in the development of products and services and the levels of customer integration
1.2 Apply these processes in application to the development of a specific organisational product or service
1.3 Assess the life-cycle stage of the products or services in a company’s portfolio
1.4 Evaluate which appropriate product line management choices are required for individual products or services
1.5 Design and pitch a product or service taking in to account market testing, product/service launch and distribution
2. Demonstrate an ability to critically reflect on the skills of team working, creative development and presentation.
2.1 Complete a reflective statement that critically reflects on team working, creative development and presentation