NPD (ENT600) : GUIDELINES & TEMPLATE

TECHNOLOGY ENTREPRENEURSHIP
(ENT600)

WRITTEN REPORT ON NEW PRODUCT DEVELOPMENT

OVERVIEW

The New Product Development (NPD) consists of the activities carried out by firms or
entrepreneurs when developing and launching new products. A new product that is introduced on
the market evolves over a sequence of stages, beginning with an initial product concept or idea
that is evaluated, developed, tested and launched on the market (Boonz, Allen & Hamilton, 1982)

INSTRUCTIONS

1. This is a group project and the students are required to form groups comprising of 3
MEMBERS ONLY.

2. Each group needs to identify and develop product/service idea for a technology based
solution using NPD process. The group needs to use Consumer Trends Canvas (CTC) in
developing new product idea (NPD).

3. The write-up should not be less than 4,000 words (original; excluding appendices).

4. The group needs to write and present a final report using the given format.

5. Use Times New Roman 12 or Arial 11 with 1.5 spacing for writing blueprint report.

6. A letter from lecturer can be prepared to assist the students to visit the company.

7. The report must be submitted on or before ______________. Failure to do so will

jeopardize the student’s grade for this subject.

IMPORTANT NOTES ON TURNITIN

Students also required to submit soft copy of the report via Turnitin. Only reports that achieve less
than 20% similiarity index are accepted (those exceeding >10% will be gradually penalized).
Please ensure:
a. Put the title of the submission using the new product name (e.g. Car Seat Child
Detection Sensor).
b. Name of group members should be listed on the first page.
c. The uploaded soft copy must reflect the hard copy report submitted.
d. Include the front cover in the Word file before uploading it to Turnitin (together with
the student’s name, group etc).

ENT600 : NFL 2017

 NPD (ENT600) : GUIDELINES & TEMPLATE

e. The transcript can be excluded from Turnitin (to prevent from similiarities), but
included in the final soft copy & hard copy submission.

NEW PRODUCT DEVELOPMENT WRITTEN REPORT FORMAT

GUIDELINES
GUIDELINES FOR CONTENTS
Following is a suggested guideline for preparing your case study reports (remember to always use
Harvard Business Style for all formatting and referencing as per the course outline):

A. COVER PAGE

 Use the template given.

B. TABLE OF CONTENT

 Organize your content using Ms Word heading & references (ToC) tools.

C. EXECUTIVE SUMMARY

 Summary of the whole report. Should be written last to focus on key points/findings.

1. INTRODUCTION

 Briefly describe the technology and introduce the product.

 Objectives of the product.
 Highlight the characeristics of opportunity that is addressed with the offering your product
(page 34 text book).

2. CURRENT PROBLEMS AND ISSUES

 Discuss current problem statement and issues. Provide proper credits and citations to the
sources of facts/information.
 Limitations of existing products

3. MARKET FEASIBILITY ANALYSIS

3.1 Market research & industry analysis

3.1.1 Venture Opportunity Screening Analysis

 Refer to the ‘Industry & Market’ table/section of the Venture Opportunity Screening
Analysis (VOSA) on page 42 of the text book.
o Re-construct the ‘Industry & Market’ profile table using Ms Excel.
o Only use the following indicator: market, value-added, product durability, market
size potential and market growth rate.
ENT600 : NFL 2017
 NPD (ENT600) : GUIDELINES & TEMPLATE

o Provide ample discussion for the Table that you have drawn.

3.1.2 Market Trends

 Refer to ‘Market Size and Trends’ (page 57 and 66 of text book).

o Identify the market segment that you plan to capture.
o Indicate the current and forecasted market trend for next three years.
 Discuss the potential annual growth for at least three years of total
market for your product or service for each major customer group.
o Discuss the major factors affecting the market growth (e.g. industry trends,
socio-economic trends, government policy, and population shifts).

3.1.3 Competition

 Refer to ‘Competitors/Competition’ (page 57 and 66 of text book).

 Identify the competitors and substitute products.
 Discuss the current advantages and disadvantages of these products or services and
say why they are not meeting customers’ needs.

3.2 Consumer Trend Canvas – Refer to Consumer Trend Canvas slide.

3.2.1 Basic needs of customers

3.2.2 Emerging consumer expectations
3.2.3 Drivers of change
 Opportunity from external environment
3.2.4 Inspiration from competitors

4. NEW PRODUCT DEVELOPMENT

4.1 New Product Development Process

 Explain briefly on Research & Development (R&D) process (Fig 5.7, page 90 of text
book)
 The R&D process done for the ideation stage through:
o Idea generation: Provide several conceptual sketches and renderings.
o Idea screening: Other concepts that are eventually dropped.
o Market survey: Surveys involving either questionnaires, focus group interview
or observation. Provide details.

4.2 Product Design/Features

 Elaborate on product dimensions together with the design of the product and its
architecture (physical design), artistic design (aesthetics) as well as the required
parameters to satisfy the market needs.
 Describe the features of the product (e.g. sample of Solar Backpack on page 93 of
text book).
o Provide a table that summarize the features, specifications and technical
details of the product.
o Provide 2D and 3D drawings including the dimensions and labelling of the
components. It is possible to draw either using hand or software. The
drawings need to be clear and labellings need to by typed using Ms Word.
 Explain on the materials use and justify their use.
 Limitations of your product.
ENT600 : NFL 2017
 NPD (ENT600) : GUIDELINES & TEMPLATE

4.3 Prototype
 Briefly discuss how would you build the actual prototype.

4.4 Test Marketing

 Detail measures that need to be taken to gauge product viability and assess the
market’s reaction.
 Identify the suitable external parties that may assist you in providing the right
feedback.

5. CONCLUSION

Highlight the stages and to determine the feasibility and viability of the product/services for
commercialization

6. REFERENCES

Make sure all references are cited correctly. Recommend that you source interviews, business
journals, periodicals, and textual references as well as some online research. Make sure you
support your ideas with facts and figures. Please try to use your own words and ideas based on
research rather than copy and paste other’s words from the internet (marks will be deducted).

7. APPENDICES (if any)

Attach any original data that relate to the study, but which would have interrupted the flow of the
main body. All charts, financials, visuals, and other related items that are too big or cluttered can be
placed here and referenced in the report (e.g. please refer to Table 4.3 in the Appendix section).

ASSESSMENT BREAKDOWN

Section Marks
Preliminary materials 5
(1) Introduction, (2) Current Problems & Issues 15

(3) Market Feasability Analysis 30

(4) New Product Development 30
(6) Conclusion, References & Appendices 10
Originality (Ideas) 5
Originality (Turnitin) 5

ENT600 : NFL 2017

 NPD (ENT600) : GUIDELINES & TEMPLATE

TABLE OF CONTENTS

Contents Page

A. EXECUTIVE SUMMARY 1
1.0 INTRODUCTION 2
2.0 CURRENT PROBLEMS AND ISSUES 4
3.0 MARKET FEASIBILITY ANALYSIS 7
3.1 Market research & industry analysis 8
3.1.1 VOSA – Venture opportunity screening assessment 9
3.1.2 Market trend analysis 11
3.1.3 Competitor analysis 13
3.2 Consumer Trend Canvas 15
3.2.1 Basic needs of customers 15
3.2.2 Emerging consumer expectations 16
3.2.3 Drivers of change 17
3.2.4 Inspiration from competitors 17
4.0 NEW PRODUCT DEVELOPMENT 18
4.1 New product development process 18
4.2 Product design/features 20
4.3 Prototype 26
4.4 Test marketing 30
5.0 CONCLUSION 31
6.0 REFERENCES 32
7.0 APPENDICES 34

ENT600 : NFL 2017