New Product Development
Rapid prototyping, Beverage containers -- Technological innovations, New products -- Management, New business enterprises -- Management
The purpose of the development log is to convey the readers and the audience about the development of our product from initiating idea until developing the prototype and also analyzing product development economics for the product. The readers and the intended audience of the development log can be anybody who is willing to know about choosing a technology in developing a Travel Beverage Heater.
The problem that was not currently addressed by various other technologies and products was to heat the drink anywhere and at anytime. The current technologies that are used to heat the drink are not safer which could cause burns and hurt the customers, not easy to carry, not compact, some chemical based products have also caused injuries to the customers and were not eco friendly. Hence, to address these needs we have developed a product through our thorough research and analysis.
The scope of the development log report doesn’t cover much in depth about the circuit design or in depth product specifications. It discusses about various possible technologies in high level that can be used such as chemical based, Butane fuel based and finally battery power based technology which could heat the drink. Hence, having a some prior knowledge about these chemicals and technologies would help to better understand the product but it is not mandatory.
The methodology adopted was finding market opportunity through gap analysis of the competitors’ products which were customer complaints unaddressed by the other products which lead to the initiation of idea of developing a product which could heat the drink that is light, easy to use and safe to carry. Further we considered various potential customer segments that may be willing to buy this product, followed by selecting a potential target segment who were parents having babies and on further interviewing we found the customer needs and then interpreted the needs.
The technology was selected based on interviewing the Mothers who have babies which was finally found to be battery based and later we used needs-metrics matrix to come up with product specifications. Final stage of developing the product was product design which was found to be spiral type design after evaluating various other designs. Finally, we calculated product development economics which includes unit production cost, net present value and break even analysis.
The development log report starts with product development process which includes product planning and concept development, followed by design phase, product development economics, lessons learned and follow on research.
Ashokkumar, Ramkumar; Hsieh, Yi-Lung; Lin, Yu-Hsiang; and Mahaphol, Inthrayuth, "Travel Drink Heater: New Product Development Log" (2010). Engineering and Technology Management Student Projects. 1101.