Describe at least one public policy issue that needs to be considered in relation to your product/service

“Globally, new products are launched almost every day. They are developed to provide solutions to common or specialised problems; to enrich
our lifestyle; to release us from mundane and monotonous jobs; to give reliable alternatives to old solutions; to amuse us; to provide items that
are more pleasing to the eye; to be more ecologically aware etc. What the companies that develop, design, manufacture, market and sell these
products are seeking is commercial compensation in the short, medium or long term “success” however you measure it. Subsequently, New
Product Development is a major issue for most companies as they seek to reduce time to market, reduce the development cycle, access new
technologies and develop more and better products and services. As the development of such new products that can successfully compete in
local, national and global markets has thus become a key concern for the majority of companies, so successful NPD is now being seen as a
fundamental to both stimulating and supporting economic growth. It is therefore a subject, which has received and continues to receive much
attention, particularly in seeking to improve its effectiveness and efficiency.”

Attachments:Assessment 4 – NPD Report – 3000 Words
“Globally, new products are launched almost every day. They are developed to provide solutions to common or specialised problems; to enrich
our lifestyle; to release us from mundane and monotonous jobs; to give reliable alternatives to old solutions; to amuse us; to provide items that
are more pleasing to the eye; to be more ecologically aware etc. What the companies that develop, design, manufacture, market and sell these
products are seeking is commercial compensation in the short, medium or long term “success” however you measure it. Subsequently, New
Product Development is a major issue for most companies as they seek to reduce time to market, reduce the development cycle, access new
technologies and develop more and better products and services. As the development of such new products that can successfully compete in
local, national and global markets has thus become a key concern for the majority of companies, so successful NPD is now being seen as a
fundamental to both stimulating and supporting economic growth. It is therefore a subject, which has received and continues to receive much
attention, particularly in seeking to improve its effectiveness and efficiency.”
Abstract from: Owens, J D and Atherton, A M (2018). “A conceptual analysis on the different approaches to New Product Development and the
variables associated with modelling the process.” in “Design and Optimization of Mechanical Engineering Products.” (Eds. Kaushik Kumar and
João Paulo Davim), Ch. 1, pp 1-23
Unit: BIAE2002 NEW PRODUCT DEVELOPMENT
The purpose of this report is to outline the benefits of the NPD process for the new product or service that you introduced in assessment 3.
The report should include;
• Introduction to the report
• Background to the NPD process providing a critical analysis of the importance of NPD for business – you may like to relate this to a specific
business. And, an explanation of why a structured approach to NPD is necessary.
• The body of the report will discuss aspects of the Development and Launch phases of the NPD process in relation to the product/service you
identified in assessment 3. Provide sub-headings for each of the point below.
o Describe key aspects of the design stage that need to be considered for your product/service
o Discuss whether product use testing is necessary for your product/service. Justify your response.
o Launch planning – write a ‘positioning statement’ for your product/service.
o Describe one suitable method of market testing and justify why this method would be suitable for your product/service
o Describe at least one public policy issue that needs to be considered in relation to your product/service
• Conclusion
• References
• Appendices – please include your PIC from Assessment 3 in the appendix
Instructions:
• This report should be written with reference to the textbook, lecture notes AND to wider research/readings.
• Note: you will not be graded on the extent of innovativeness/creativity of your idea. The important thing is that you are able to demonstrate
an understanding of some / all of the phases of the New Product Process.
• Responses must be appropriately cited in text and a reference list provided using the Harvard reference format for any external references.
• Open this document and file ‘save as’ with the file name being your student name and number e.g. King, K_200100_BIAE2002_A2.
• Upload your submission into Moodle in Word Document format.
Assessment 4 – Portfolio (Individual, via Moodle 50%) – Marking Rubric
Rubrics Marking Criteria
HD D C P F
Background to
NPD process
15%
(12.8 to 15 marks)
Demonstrates
excellent ability to
critically analyse the
NPD process.
A highly developed
understanding of the
use of a structured
approach to NPD.
(11.3 to 12.7 marks)
Demonstrates high level
ability to critically
analyse the NPD
process.
A very well-developed
understanding of the use
of a structured approach
to NPD.
(9.8 to 11.2 marks)
Demonstrates high level
ability to critically
analyse the NPD
process.
A good understanding of
the use of a structured
approach to NPD.
(7.5 to 9.7 marks)
Demonstrates adequate
ability to critically
analyse the NPD
process.
An adequate
understanding of the use
of a structured approach
to NPD.
(0 to 7.4 marks)
Discussion does not
demonstrate ability to
critically analyse the
NPD process.
Understanding of the
use of a structured
approach to NPD has
not been demonstrated
NPD process
Development &
Launch stages
65%
(55.3 to 65 marks)
Answers
demonstrate
excellent
understanding and
application of ALL
relevant NPD theory
and the development
and design stages
involved in NPD
(48.8 to 55.2 marks)
Answers demonstrate
very good understanding
and application of ALL
relevant NPD theory and
the stages involved in
NPD.
(42.3 to 48.7 marks)
Answers demonstrate
good understanding and
application of the
relevant NPD theory and
the stages involved in
NPD.
(32.5 to 42.2 marks)
Answers demonstrate
acceptable
understanding and
application of relevant
NPD theory and the
stages involved in NPD.
(0 to 32.4 marks)
Answers demonstrate
poor or no
understanding and
application of relevant
NPD theory and the
stages involved in NPD.
Report structure /
format
10%
(8.5 to 10 marks)
The report includes
all required aspects
(introduction,
conclusion,
appendix) – all have
been presented to an
excellent standard
Very professional
work provided with
an excellent report
format. Layout
acceptable in the
business world.
(7.5 to 8.4 marks)
The report includes ALL
required aspects
(introduction, conclusion,
appendix) – all have
been presented to a very
good standard
Very good report format.
Layout acceptable in the
business world with little
to no improvements
required.
(6.5 to 7.4 marks)
The report includes ALL
required aspects
(introduction, conclusion,
appendix) – all have
been presented to a
good standard.
Report format and layout
acceptable in the
business world with
minor improvements
required.
(5 to 6.4 marks)
The report includes most
required aspects
(introduction, conclusion,
appendix) – all have
been presented to an
adequate standard.
Report format and layout
acceptable in the
business world with
some improvements
required.
(0 to 4.9 marks)
Report guidelines have
not been followed and
inclusions are missing
Report format and layout
not acceptable in the
business world.
Written
communication,
research and
referencing
10%
(8.5 to 10 marks)
Excellent written
communication skills
Evidence of in-depth
research. Use of
high-level academic
sources
No errors in Harvard
reference format
(7.5 to 8.4 marks)
Very good written
communication skills
with slight room for
improvement
Clear evidence of
research
Quality academic
sources used
Minimal errors Harvard
format
(6.5 to 7.4 marks)
Written communication
is clear with few errors in
grammar, spelling,
punctuation, etc. Still
room for improvement
however submission is
clearly understood.
Adequate level of
research and resources
used
Few errors in reference
style
(5 to 6.4 marks)
Skill in written
communication
adequate with much
room for improvement.
Limited evidence of
research
Minimal academic
sources used
Contains errors in
reference style
(0 to 4.9 marks)
Skills in written
communication need
work (e.g. spelling,
grammar, punctuation)
No evidence of research
No academic sources
used
Sources of information
not referenced in
Harvard style