Prepare a new product development plan for your new

Assignment Detail:- Assessment -colorized bleach company- The third assessment task requires you to prepare a new product development plan for your new product/service idea from the second assessment task- You will present the new product development plan as a formal business report- This report should be 2000 words maximum excluding the title page and reference list- Your new product development plan should include and address each of the following:1- Title page• The title page will include the name of your business/organisation and the proposed name of your new product/service, your name, student ID number and lecturer/tutor name and campus -for on-campus students- and course name and code-2- Executive summary• The executive summary should not read like an introduction to an essay- You need to highlight only those critical aspects from your new product development plan-• Outline only the main findings and recommendations from the report-• Use of subheadings, dot or bullet points is recommended to better present the required information-3- Table of contents• The table of contents will present each section of the new product development plan, including subheadings, with their appropriate page number-s-- Sections should be numbered -e-g-, 1-0 Introduction-- The introduction begins on page 1- Pages prior to the introduction use lower case Roman numerals such as i, ii, iii, iv, etc-4- Introduction• The introduction should present a brief outline of the business/organisation and the proposed new product/service that is the major focus of this new product development plan- In addition, the aims and structure of the report should be presented-5- Business analysis• Define or describe your idea- What exactly is the product/service you want to develop????• Identify your market- What will set this new product/service apart from your competition???? What is the benefit of your proposed new product/service???? What are your target customers' frustrations with similar products/services on the market????6- Prototype testing• Provide some ideas for making/building and testing your new product/service-7- Marketing strategy and plan• Provide a strategy for marketing your new product/service to your targeted customers- What is the USP???? What will be the branding strategy adopted????8- Product/service launch• When, how and where will you launch the new product/service????9- Reviewing the product/service• How are you going to keep your share of the market after your product/service is launched???? How do you innovate to keep yourself ahead of other products/services and businesses????10- Intellectual property -IP- protection• How will you stop competitors from copying your product/service????11- Conclusion• In your opinion, why do you think your new product/service is likely to succeed???? What might hinder the success of your new product/service????12- Reference list• Using APA referencing style, the new product development plan should include at least fifteen -15- quality sources of information such as from academic journal articles, academic textbooks, trade journals, newspaper articles and industry/business websites- Instructions• This is an individual assessment -no groups--• Submit your formal business report online through the Assessment tile on the unit Moodle site-Your formal business report should contain the following:• A single Word document -no PDF-, including a title page, that addresses all the key parts above plus a reference list, using APA referencing style, showing use in-text of at least fifteen -15- quality sources of information such as from academic journal articles, academic textbooks, trade journals, newspaper articles and industry/business websites-• Use size 12 font with 1-5 line-spacing in this Word document-Skills• A new product development plan is widely used by businesses/organisations to identify the process and timeline to design, create and build their products/services-• This is a challenging assignment- It will provide you with the opportunity to undertake a significant piece of work with a practical commercial application-

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