Manage product or service development

you need choose IKEA as your company to write a report and COVER ALL of the FOLLOWING POINTS.

Module 7: Manage product or service development (5 credits) [optional module]

Unit description

This unit provides students with the knowledge necessary to manage the development of a product

or service. They will be able to identify the requirements in managing product or service development

as well as assessing the need for any potential development of such products or services

Learning outcomes

At the end of this module, students will be able to

1. Understand the development of a new product or service

To show evidence, students will be able to

a. Analyse the product life cycle of a potential new product or service

b. Assess how buyer behaviour can be influenced and affected

c. Understand what steps are needed in the development of a new product or service

2. Understand the need for a new product or service

To show evidence, students will be able to

a. Identify a gap in the market for a product or service

b. Understand how this gap can be filled

c. Ascertain if there are any reasons for this gap not already having been filled

d. Understand customer demand for this new product/service

e. Assess the theory behind how market forces can dictate sales

3. Manage the development of this new product or service

To show evidence, students will be able to

a. Assess the costs of developing this new product or service

b. Evaluate the potential profitability

c. Understand what changes would be needed within the organisation to enable this new product or

service and whether the cost is worthwhile.

4. Evaluate the success this new product or service

To show evidence, students will be able to

a. Devise a set of criteria by which the success of this new product/service can be measured

b. Evaluate what changes could be made to the process for future product or service development

 

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