New product development JUNE 2025

Description

New Product Development and Managing Innovation

Jun 2025 Examination

Q1. GlobalTech Motors is a multinational automotive company renowned for its high- performance electric vehicles (EVs). The company is preparing to launch a revolutionary self-driving technology designed to integrate seamlessly into its existing EV lineup. As the project manager, you are tasked with creating a comprehensive strategy to successfully position the new technology in the competitive automotive market.    Using the Ansoff Matrix and the BCG Matrix, outline how you would develop a strategic plan to introduce and position GlobalTech’s self-driving technology. (10 Marks)

Ans 1.

Introduction

GlobalTech Motors, a pioneer in electric vehicle innovation, is entering a transformative phase with the introduction of its cutting-edge self-driving technology. This new development promises to redefine user experience and elevate the company’s position in the smart mobility ecosystem. In an intensely competitive automotive market where AI and autonomy are reshaping consumer expectations, the success of this launch depends on a carefully crafted strategic approach. As the project manager, leveraging analytical tools like the Ansoff Matrix and BCG

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Q2. Discuss the significance of product life cycles in the context of new product development. Consider an industry that enables long distance communication (eg. Post/mail, Email, Telephone, Mobile phone, wifi calling etc. ) and    describe each stage with a specific product that has experienced or is currently experiencing that stage. (10 Marks)

Ans 2.

Introduction

The product life cycle (PLC) is a strategic tool that tracks the progression of a product through various stages—introduction, growth, maturity, and decline—enabling businesses to make informed decisions regarding marketing, production, and innovation. In the realm of new product development (NPD), understanding these stages is critical to prolonging profitability and sustaining market relevance. The long-distance communication industry provides a compelling context to study PLCs due to its rapid evolution from traditional post/mail to digital advancements like Wi-Fi calling. Each technology within this sector has followed a unique life cycle, with some fading into obsolescence and others continually evolving. Analyzing these transitions helps businesses design effective launch strategies, manage market saturation, and

Q3A. Arjun works as a product manager for a leading global automobile company (e.g., Volkswagen, Ford, etc.). The company is looking to develop a new car aimed at individuals aged 25-35 years. Arjun is in charge of overseeing the entire product development process. Outline the approach he should take through the various stages of the generic product design and development process. (5 Marks)

Ans 3a.

Introduction

Arjun, as a product manager at a global automobile company, is entrusted with leading the development of a new car targeted at the 25–35 age group. This demographic values modern design, technology

Q3B.  Arjun has done good job assembling a team. He now has to  generate product ideas for the new car model. What are different idea generation strategies that he can use? List the strategies and provide a short description. (5 Marks)

Ans 3b.

Introduction

With a strong team in place, Arjun now needs to focus on generating impactful and innovative ideas for the upcoming car model. Effective idea generation lays the foundation for a successful product. It involves using multiple strategies that draw from market trends, consumer behavior, technological