1.1 Analyse the stages of the development process, product life cycle and their requirements

Title: Manage Product and/or Service Development Unit number: 8622-507

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Learning Outcomes

Assessment Criteria

The learner will:

The learner can:

1.   Understand the development of new or improved products and/or services

1.1 Analyse the stages of the development process, product life cycle and their requirements

1.2 Explain the requirements of market segmentation

1.3 Analyse the factors affecting buyer behaviour

1.4 Evaluate the use of market analytical tools when developing new or improved products and/or services

2.  Be able to establish the need for new or improved products and/or services

2.1 Establish criteria by which the need for new or improved products and/or services will be evaluated

2.2 Evaluate customers’ and potential customers’ perceptions of the uses, value and quality of proposed products and/or services

2.3 Identify competitor activity that may have an impact on the market for new or improved products and/or services

2.4 Assess the likely impact of customers’ culture and behaviour on potential sales

3.   Be able to manage the development of new or improved products and/or services

3.1 Take action to ensure that proposals are consistent with organisational strategy, objectives and values

3.2 Assess the costs of developing new or improved products and/or services

3.3 Assess the viability of products and/or services by carrying out viability tests

3.4 Evaluate the degree of success of new or improved products and/or services

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