Discuss the role of product development to the future success of SU.

Mark scheme

Marking points from the official mark scheme (Oct/Nov 2018). The mark or mark type is shown in brackets.

1. [K] Developing new products or changing/innovating existing products
2. [K] product development part of marketing planning
3. [K] marketing planning is setting out activities to meet specified marketing objectives
4. [K] product development as part of planning ensures integrated approach and efficiency in use of resources
5. [K] Product development is creation of products that offer consumers new benefits
6. [K] Process is assess current products, generate ideas, develop the new concept, prototypes, market testing, product launch, monitor market reaction
7. [APP] Competitive market
8. [APP] Umbrellas/photo-chromatic umbrellas
9. [APP] Cost and lead time for development (ready in 18 months)
10. [APP] Ability to charge premium price
11. [APP] Need to change promotion and distribution channels
12. [AN] Need for new products in a competitive market
13. [AN] Product development is about maximising consumer appeal of product in the marketing mix
14. [AN] Cost not guaranteed to be recovered
15. [AN] Strategic planning links this to the other elements of the mix in integrated way; marketing planning is mechanism for doing this
16. [EVAL] conclusion on relative importance of product development vis-a-vis other factors
17. [EVAL] will require objectives to be set
18. [EVAL] will need information on costings, research into market