Describe the product/service and the problem(s)you have identified with it from the consumers perspective. Describe your proposed solutions to fix the problem
Introduction(250 words)Describe the product/service and the problem(s)you have identified with it from the consumers perspective. Describe your proposed solutions to fix the problem(s)
A.Discuss why and how the problem(s)you describe warrants a new product developmentprocess using the following theories/conceptsin Lecture 2.1.Types of new product2.Customers’ (users of the products you use for this assignment) adoption cycle3.Prospect theory
B.Discuss the new product development process needed to execute the solution(s) youproposed above, using models discussed in Lecture 3 (e.g., range of knowledge, capabilityanalysisetc)
C.Identifyand analyse opportunities created by your proposed solution(s)for the currentcompany/brand that makes the product, using theories/concepts discussedin Lecture 4.Note: the product you choose should be from Amazon.com or have equivalent competingproducts listed on Amazon.Use Amazon for market data. All arguments in this sectionshould be justified by actual market data.
D.Use theories/concepts in Lecture 5 to discuss thenew concept of theproduct/servicebuilt from your above proposed solution(s).This may include product and brand design,packagingand distribution.
Conclusion (250 words)References and appendices (excluded from word count).