BM022-3-M-NPDI New Product Development And Innovation Business Report Writing
- Subject Code :
BM022-3-M-NPDI
- Country :
Malaysia
Test Specification Table
CLO1 Evaluate the nature, complexity, interactivity, and effects of the innovation environment with particular emphasis on New Product Development successfully developing and commercializing new products (C5, PLO2)
CLO2 Present the application of innovation on new product development decision making in a new product development scenario (A2, PLO5)
CLO3 Propose solutions to problems involving the impact of the innovative environment on managing dynamic businesses related to new product development (A5, PLO4)
Question No. 1
Topic : Propose solutions to problems involving the impact of the innovative environment on managing dynamic businesses related to new product development.
Question No. 2
Topic : Present the application of innovation on new product development decision making in a new product development scenario
New Product Development & Innovation Business Report
New Product Development and Innovation: Automatic Espresso Machines Market 2020-2024
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio has been monitoring the automatic espresso machines market and it is poised to grow by $1.04 bn during 2020-2024, progressing at a CAGR of about 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Request for Technavio's latest reports on directly and indirectly impacted markets. Market estimates include pre- and post-COVID-19 impact on the Automatic Espresso Machines Market.
The market is concentrated, and the degree of concentration will accelerate during the forecast period. Breville Group Ltd., De'Longhi Spa, FRANKE Holding AG, Groupe SEB, Hamilton Beach Brands Holding Co., JURA Elektroapparate AG, Koninklijke Philips NV, Nestle SA, Robert Bosch GmbH, and Smeg Spa are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
New product development and innovation have been instrumental in driving the growth of the market. However, low penetration and adoption in developing countries and the availability of counterfeit products might hamper the market growth. Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
This study identifies the availability of portable espresso machines as one of the prime reasons driving the automatic espresso machines market growth during the next few years. Write the report based on the points given as below:
Automatic Espresso Machines Market 2020-2024:
Key Highlights
- Compound Annual Growth Rate of the market during the forecast period 2020-2024
- Detailed information on factors that will assist automatic espresso machines market growth during the next five years
- Estimation of the automatic espresso machines market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the automatic espresso machines market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of automatic espresso machines market vendors
Source: Bloomberg, 2020 (website: bloomberg.com)
You are required to produce a business plan for a new product development. Selection of the product can be done by the students themselves or selected by the Module Lecturer. The new product development and innovation business plan should cover two specific sections:
A. New Product Development and Innovation Analysis (60% WEIGHTAGE)
- Executive Summary
- Market Overview
- Market Landscape
- Market ecosystem
- Value chain analysis
- Market Sizing
- Market definition
- Market segment analysis
- Market size 2022
- Market outlook: Forecast for 2019 - 2024
- Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market Segmentation by Product
- Market segments
- Comparison by Product
- Fully automatic - Market size and forecast 2022-2026
- Semi-automatic - Market size and forecast 2022-2026
- Market opportunity by Product
B. Creativity Management (30% WEIGHTAGE)
The Taxonomy of Creative Design refers to changes in form and content, and it can be used to analyze or assess the novelty or the derivation of a creative work.It looks at a creative work as a product. It classifies creative work as an imitation of another work, a variation on a single work, a combination of two or more works, a transformation of a work into a completely new form, or a creation that is previously unrecognizable. It takes the scientific approach of reduction to a creative work to understand its component parts.
- Imitation
- Variation
- Combination
- Transformation
- Original Creation
C. Conclusion (10% WEIGHTAGE)
- Risk management approaches
- Change management issues related to innovation
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