New Product Development and Managing Innovation
June 2024 Examination
1. Explain the different product lifecycle stages. Describe the characteristics of each phase in
terms of product familiarity, sales etc. and provide a product example for each stage. (10
Marks)
2. Creating a ‘new product strategy’ prior to initiating the concept development phase is a
fundamental component of launching new products. Picture yourself in the Product division
of a leading multinational automotive manufacturer. The company intends to introduce a
moderately priced mid-range version specifically designed for the Indian market. In this
example’s context, assess the strategy utilizing two strategic planning models: the Ansoff
Matrix and the BCG Matrix. (10 Marks)
3a. What are the advantages for companies in conducting competitor analysis? Elaborate on
Porter’s Five Forces model with an industry-specific example to illustrate its application. (5
Marks)
3b. List and elaborate the 4 different types of innovation? Explain by providing an example
from products/industries of your choice for each type. (5 Marks)