The Course Project requires you to practice the development of a new product/service. You will have to generate your idea for an innovative, new product/service. Ideas come from many sources - your imagination, recognizing a void in the marketplace, changes in environmental factors (political, economic, social, technical), friends, relatives, and so on. Once you have the idea, you need to focus on the necessary condition to turn an idea into a developed customer product/service. To that end, you will need to focus on competitors for your innovation and how you will position it versus them. Market-research techniques that fit your innovation should be described, and you may find information in chapter 6 of the text useful . Finally, you will determine the best product-development process and launch strategy for your innovation.
Your typed paper (using Microsoft Word) should be no more than 12 pages in length (not including the cover page, table of contents, and reference pages), double spaced, using Times Roman 11-point font, and one-inch margins.
APA citation format
Paper should go through a complete spelling and grammar check in Word.
Minimum of six scholarly references cited in the paper
You should review the APA tutorial referenced in the course syllabus.
Outline
Cover page
Table of Contents
Executive Summary (this should be the last section written)
Complete product/service description, including the type of innovation represented, and the source for the idea
Product/service offering and a description of benefits that customers will both recognize and realize
Competitive analysis
Market-research steps necessary to test the concept
Safety or health concerns with the use of your innovations, if any
Development strategy
Launch strategy, including any considerations of using strategic alliances to get to market
References