Assignment task: Identify a new product and classify it based on the categories of new products.
I will need to conduct research to identify a new product that has recently been introduced to the South African market. Once you have identified the product, you will need to analyse the product and determine which category or categories it belongs to.
The categories of new products include:
- New-to-the-world products
- New product lines
- Additions to existing product lines
- Improvements and revisions to existing products
- Repositioned products
- Cost reductions
Based on your analysis, you will need to justify why you have classified the product in the category or categories that you have selected. You should provide a brief explanation of the characteristics of the product that support your classification.
Remember you need to reference