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New Product Development

Student: Khokhryakov Vladislav

Supervisor: Dmitry G. Artemyev

Faculty: Faculty of Economics, Management, and Business Informatics

Educational Programme: Management (Bachelor)

Year of Graduation: 2021

Nowadays, in conditions of strong competition in almost any market, as well as a strong susceptibility to various kinds of changes, it is quite problematic to bring to the market a new product that meets the key needs of consumers, without a well-functioning model or strategy for introducing this very product. However, there is no strategy that can be applied to any company in any field of activity, due to the uniqueness of the specifics of the markets. Therefore, the process of detailed planning of a product to market is one of the key stages, prior to obtaining financial benefits. Within the framework of this work, it is proposed to use methods and tools of strategic analysis, which include tools for analyzing the external environment of the project, such as: PEST analysis, consumer research and the selection of target consumer segments, analysis of consumer problems through in-depth interviews and the use of a QFD matrix, environmental analysis project on the model of 5 forces M. Porter and the analysis of competitors. The next stage of work includes an analysis of the internal environment of the project through SNW analysis. As a result of the strategic analysis of the project, a business model of the project was developed according to the model of A. Osterwalder and I. Pigne. The last stage of this work is detailed project planning, which includes supplier analysis, production plan, marketing strategy, financial component of the project, etc. The results of this study can be divided into 3 groups: theoretical, methodological and applied, since it is assumed that all the described tools will be implemented.

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