Question

Propose a new product that could be introduced to the market by 2024. For CS and IT students, you could propose the software that you are developing for your Final Year Project as the new product. For other students, you can choose any products that you prefer.

Elaborate and provide detailed information about your new product as below:

1) Discuss the -Newness’ of the new product

2) Justify the value proposition of the new product

a. Problems (pains encountered by customers).

b. Gains

3). Discuss the Commercialisation (Target Market Segment & Channel & Revenue Model).

4). Discuss the growth strategies in Ansoff s Matrix that can be opted to Influence the growth of the newly developed product throughout its product life cycle.