New Product Development

The assignment content discusses the new product development process at ABC Technology Company. The paper explores four stages of product development: idea generation, screening, concept testing, and business analysis. The target market for the new product is green technology users, and two feasible product ideas are identified: a smartphone that can be charged in sunlight and cycles with energy storage mechanisms. The business analysis phase assesses the viability of these products, considering their potential to reduce dependence on electricity and impact the environment positively.

New Product Development
(ABC Technology Company)
Student Name:
Student ID:
Course Name:
Course ID:
Faculty Name:
University Name:

Table of Contents
Introduction................................................................................................................................2
Idea Generation..........................................................................................................................2
Screening....................................................................................................................................2
Concept Testing.........................................................................................................................2
Business Analysis.......................................................................................................................2
Conclusion..................................................................................................................................2
References..................................................................................................................................3

Introduction
The current paper is concerned with the new product development. The product development
generally considers four steps, namely, idea generation, screening, concept testing, and
business analysis (Mills & Brooke, 2012). The new product development will begin with the
brainstorming of various product ideas and then follow through the entire process to reach the
business analysis phase where the viability of the product will be tested for the market. The
new product development methods can be undertaken in various ways depending on the
orientation of the organization. The four sections ahead discuss the entire product
development.
Idea Generation
The idea generation phase is where the idea for the new product is developed (Leonard &
Ambrose, 2013). At present, the idea generation will be done using the brainstorming.
Brainstorming is concerned with the random ideation about various products to develop
among certain number of people. The product idea is developed for the certain consumer
group or class who can use this product in any manner. The inherent benefit in the product is
what makes it sellable. However, in the brainstorming phase no concern towards saleability
or development will be shown (Snyder, 1988). The only concern will be product
development. The current target market for the product to be developed is the green
technology users. The current product ideas are some form of green technology. The reason
behind this consideration is that the green energy is gradually attracting attention of
environment and reputation conscious government and private companies. Given below are
the green product ideas that have been identified after brainstorming
1. Smartphone that can be charged in Sun.

2. Solar panels on the road.
3. Cycles with energy storage mechanisms
4. Pen that never ends
5. Reusable printing paper
Screening
The screening identifies the feasible product ideas (Hammedi et al, 2011; Dalton et al, 2008).
There are five product ideas that have been shown in the Idea Generation section. From five
green technology product ideas and cycles with energy storage mechanism has been selected
as the feasible ones. These two products can be made and marketed. The first product that is
smartphone that can be charged in the Sun will have back cover that will consume sunlight to
charge the battery. This idea seems feasible. Along with this, the second product idea, cycles
with energy storage mechanisms will likely require some device to covert cycles’ mechanical
energy into electrical energy that can be stored for future use. The sunlight chargeable phone
is likely to be preferred by those customers who are located in the areas where electricity is
tough to get. The other item, cycle with charging capacity, will also be used by the consumers
who are likely to stay in the location where the electricity is not-reachable.
Concept Testing
The concept testing is necessary to be conducted as it will help the company in understanding
whether the project will be successful as the ultimate goal is to sell the product to the
consumers (Acito & Hustad, 1981). Therefore, both the concepts will be brought to the
people to get their reactions. The best method to get their reactions is to develop a short video
that will showcase the idea in an animated manner and then distributing this video to the

concerned individuals along with a set of questions. These questions will be used to
understand their opinion about each of the product ideas.
Business Analysis
Business analysis will ensure in understanding that whether the product should be sent for
production (Cooper & Kleinschmidt,). As per the first product idea is concerned, that is the
solar chargeable smartphone, it can be clearly stated that the demand is immense. The reason
is that most of the countries around the world are willing to use the new technologies such
smartphones and tablet. However, the major challenge is all time availability of energy that
can keep their devices charged. In this scenario, it is possible that those customers will
purchase this product as it will reduce their dependency on the electricity. Moreover, the
second product idea that is energy storing cycles is also feasible as it will help the people in
rural areas in various countries around the world in storing electricity for their personal uses.
The impact on the environment from these products will be positive. The reason behind the
environment benefit is that these devices will be energy generators using the natural energy.
The natural energy, particularly solar energy, is in abundance. Moreover, usage of the solar
energy does not create any form of by-product that can be harmful for the environment.
Therefore, the solar energy is safe and it can be stated clearly that the devices depending on
the solar energy will be safe for the environment as they will not be releasing elements that
will harm the environment. The development of the product is likely to negatively impact the
other form of energy generators such as the companies those are producing oils and gases.
These companies are likely to hit if the innovation gains substantial market share.
Furthermore, the companies that are developing storage batteries for the smartphones are
likely to get impacted as they have to develop batteries that are rechargeable through solar
energy.

The sales estimate, costs, and profits can be done based on the survey that will be conducted
by the company. The company will conduct online survey that will contain questions such as
whether they would prefer to purchase the product, price they are willing to invest in the
product, and others. These aspects will help company gain a rough percentage of the products
that are likely to be sold based on the respondent sample size and the actual number of
population of particular areas. This will give the rough estimate of the sales, costs and profits.
Conclusion
Based on the entire assessment, it can be stated that the two products have been found to be
feasible for the customers. The two of them are solar chargeable smartphone and device that
can convert the cycles’ mechanical energy into the electrical energy that can be stored in the
battery. These innovative ideas are likely to be preferred by the consumers who are living in
the locations where the electricity is not available. The stored energy from the cycle can be
used to light bulb and use fan in the homes. Overall, it can be stated that product is sellable
and attractive and should be a success.

References
Acito, F., & Hustad, T. P. (1981). Industrial product concept testing. Industrial Marketing
Management, 10(3), 157-164.
Cooper, R. G., & Kleinschmidt, E. J. (1986). An investigation into the new product process:
steps, deficiencies, and impact. Journal of product innovation management, 3(2), 71-85.
Dalton, G. J., Lockington, D. A., & Baldock, T. E. (2008). Feasibility analysis of stand-alone
renewable energy supply options for a large hotel. Renewable energy, 33(7), 1475-1490.
Hammedi, W., van Riel, A. C., & Sasovova, Z. (2011). Antecedents and consequences of
reflexivity in new product idea screening. Journal of Product Innovation Management, 28(5),
662-679.
Leonard, N. & Ambrose, G. (2013). Idea generation (1st ed.). Lausanne: AVA Publishing.
Mills, N. & Brooke, M. (2012). New Product Development (1st ed.). Routledge.
Snyder, S. (1988). Brainstorming (1st ed.). Cambridge: HUP.