A new product or product extension- Essay

Taking into consideration an industry relevant to your programme of study; think bout a new product or product extension that you believe there is a place in the market place for it. Then:
Explain what aspects you would consider when analysing the market (present a summary of the collected market data). How you would use this information and what’s the benefit of having this data for the company.
I would expect students to explain fixed and variable costs, budgeting requirements ie. Fixed/variable, zero based/ incremental, cost of loans, global financial climate, make or buy decisions, bulk stock or just in time delivery. And how these could be relevant at early stages of a project.
I would also expect the students to link manufacturing principles such as, jobbing through to continuous flow lines to their own product and the method of manufacture, cell designs, man assignment etc. and how this links to cost of quality, and continuous improvement.
I would expect the students to appraise different techniques to generate the same or similar designs for concepts to full working models to for their justification of their final design.

Critical Vs creative thinking
Attribute Vs Morphological analysis
CAD applications solidworks Vs CATIA
Solid modelling Vs prototype model
What aspects would you consider as part of the SCM process? How do they relate to previous sections?
What ethics and sustainability considerations may you face in the development process?

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