Product Development Evaluation
Start Assignment
Due Monday by 23:59 Points 40 Submitting a text entry box Available 20 Feb at 0:00 – 30 Jun at 23:59
Value: 40%
Group or individual: Individual
The School of Business and Law is joining the extension tracker system. To apply for an extension please click on https://gi4znwy.onk2.com/Runtime/Runtime/Form/ECU.TNL.Extensions/ Links to an external site.. Please note that the system cannot be used for group work, quizzes, or time-sensitive assessments. In these cases, you need to make arrangements with me directly to request an extension.
Format: SpaceDraft of Product-Market fit of the prototype from Umea University
Sign up using this: https://launch.spacedraft.com/account-invite/7729d44e-867c-4131-94e9-83923a968402/invite/355b552e-0865-4cda-b531-6be73ce76a9d
You are evaluate the prototype you have been allocated from the Umea students to influence the design of the next version of the prototype. You will work together with the class and Umea students to come up with 1 or 2 prototype ideas and customer persona.
Consider the research you have conducted for assignment 1 and come up with the best product-market fit pitch using SpaceDraft. You may decide to combine your ideas and research. It is up to you to how you want to design SpaceDraft.
SpaceDraft is a new innovative platform allowing you to pitch to your C-Suite locally, nationally or globally on how the prototype fits into the marketplace. Think about it as a way to share a pitch anywhere in the world providing your audiences with a richer experience, allowing you to provide your stakeholders with an interactive visual experience of your ideas and the product market fit of the prototype. It is a web-based platform giving your team the ability to share the pitch and replicate the same experience anywhere in the world. It is a very powerful tool allowing you to ‘wow’ your audiences and take them on a journey with you; bringing your ideas to life from every angle with sound, words, graphics and movement. SHOW them how your prototype fits into the market. Consider this an interactive rich experience to share the information with your target audience.
Unit Learning Outcomes:
ULO1: Critically evaluate a new product business case by applying contemporary knowledge of product development theory and practice.
ULO3: Apply written communication skills in the context of new product development.
Course Learning Outcomes:
PGLO2: Apply critical thinking and technical skills to solve authentic business problems (AQF S2, S3)
2.1: Conceptualise problems or situations (investigate, analyse, synthesize and evaluate)
2.2: Apply technical skills to authentic situations
2.3: Solve complex problems and
2.4: Critically reflect on processes and assumptions.
To Submit
Copy the link from your SpaceDraft with no more than 6 scenes and paste it onto a Word document with your group’s names and student numbers and submit it through Canvas.
Instructions
Step 1: Preparation: Before starting this assignment, you would have been set up into Marketing Teams on Canvas. Using your team’s previous research and insights you have gained from the collaborative sessions (either live or from the recordings) with the students from Umea University undertake the following steps:
Evaluate the product-market fit between the Umea prototype and the market which you have identified in consultation with the Umea students that would be best suited to the prototype.
Set up your SpaceDraft account ECU SpaceDraft link using the log-in and instructional materials provided.
Based on your ongoing research evaluate the product-market fit between the prototype and the market which you have identified would be best suited to the prototype.
State where the product is closely aligned to the proposed market that you have identified for the prototype that you are working on with the Team at Umea.
Identify areas where the prototype could be improved or altered in order to create a better product-market fit or alternately identify an alternative market or redefine the target market in relation to the Umea Prototype.
Based on this analysis and your research propose marketing channels for the distribution of the final product to the identified market.
Step 2: Assignment instructions
Review all materials provided on how to evaluate the prototype that you’ve been given and the market you are proposing to launch it into. There are no word specification limits involved with this assessment. Do not copy or cut and paste material from online websites. Copy the link from the SpaceDraft and paste it onto a Word document with your group’s names and student numbers and submit it through Canvas.
Your SpaceDraft should include where appropriate but is not limited to information on these topics (suggested scenes or you may want to only use one scene if you think that works best?!) – be as creative as you can!
Introduction
What is the market, what is the gap, and how will the prototype address the gap?
What is the current issue that is not being addressed by the existing products in the market?
Target Customer Profile
How well does the prototype address the needs of the market at which it is currently aimed?
Who are the competitors, have you made a product people want, can you find and keep customers sustainably?
Prototype Evaluation and Conclusion
What are the benefits and drawbacks of aiming at this market?
Do you think this market is big enough for an extra successful return on investment in taking the prototype to market?
You can compare the market at which the prototype is aimed with the one you initially identified in your marketing report
How could this product be changed, augmented, or simplified to better fit the market at which is aimed?
Your SpaceDraft can include various media such as images, screenshots, videos, Murals, links to external content, embedded videos or video recordings made by yourself. You can also include images of the prototype provided by the Swedish students and of graphs and charts that you may have used in your market research report.
product market fit.JPG
Step 3 (Important resources)
SpaceDraft Knowledge guides Links to an external site.
Please get in touch if you would like examples. I highly encourage you to use your creativity, the previous examples are on a different prototype to the one you and Umea students are developing this semester. Each semester is different/unique.
Step 4: Additional resources
A Playbook for Achieving Product-Market Fit: https://leanstartup.co/a-playbook-for-achieving-product-market-fit/Links to an external site.
Product-Market Fit Canvas Template: https://businessmodelanalyst.com/downloads/product-market-fit-canvas-template/Links to an external site.
How to Determine Product Market Fit in Your Industry: https://blog.hubspot.com/sales/product-market-fitLinks to an external site.
12 Things about Product-Market Fit: https://a16z.com/2017/02/18/12-things-about-product-market-fit/Links to an external site.
How Product Managers Measure Product-Market Fit: https://www.productplan.com/how-to-measure-product-market-fit/Links to an external site.
Product market fit Resources https://conceptboard.com/blog/product-market-fit-canvas-template/Links to an external site.
Some Information on Accessible Design https://increment.com/mobile/best-practices-for-building-accessible-mobile-apps/?utm_source=departmentofproduct_newsletter&utm_medium=departmentofproduct_newsletter&utm_campaign=departmentofproduct_newsletterLinks to an external site.
A place to get a quote on an app https://www.appspeople.com.au/Links to an external site.
Product Market Fit Resources https://conceptboard.com/blog/product-market-fit-canvas-template/Links to an external site.
https://medium.com/my-marketing-mix-mmm/how-to-use-the-product-market-fit-canvas-in-your-app-development-381304879d0fLinks to an external site.
https://monkeylearn.com/sentiment-analysis-online/Links to an external site.
Mural for Product Market Fit https://www.mural.co/blog/how-to-achieve-product-market-fit-in-six-stepsLinks to an external site.
How to Use the Product/Market Fit Canvas in Your App Development https://medium.com/my-marketing-mix-mmm/how-to-use-the-product-market-fit-canvas-in-your-app-development-381304879d0fLinks to an external site.
Links to an external site.Please feel free to use any of the following resources to support your pitch.
Business plan(1) (1).pdf Download Business plan(1) (1).pdf
Stakeholder Map.pdf Download Stakeholder Map.pdf
Empathy Map.pdf Download Empathy Map.pdf
Marketing Plan Template (1).pdf Download Marketing Plan Template (1).pdf
Positioning Strategy.pdf Download Positioning Strategy.pdf
Product Service Analysis.pdf Download Product Service Analysis.pdf
SWOT Analysis.pdf Download SWOT Analysis.pdf
Resources
APA 7th Referencing Guide Links to an external site.
Academic Integrity
Feedback
When your results are released, select View rubric evaluation to access your detailed feedback.
business-watch-65×65.pngWatch
Tips from Lisa Pasco
Ass 2 Q&A.pdf Download Ass 2 Q&A.pdf
Example SpaceDrafts:
https://launch.spacedraft.com/e/Assessment2Gr-e9OLRRh2p Links to an external site.
https://launch.spacedraft.com/e/qFcc3GPZU4Q3Pwp Links to an external site.
Examples from Winter Study Tour
https://launch.spacedraft.com/e/1cP9j3mRVFGMA0p Links to an external site.
https://launch.spacedraft.com/e/s9SWveHphAVP0tp Links to an external site.