Part 2 – New Product / Service for the Global Market in Future (650 words)
2a. R & D process – you may describe how is the company doing their research, what do they want to achieve in their R&D efforts, how much investment they are putting into that, where they are carrying out their experiments / testings, what results are they getting from their R&D, who is doing their R&D (is it their internal researchers or do they engage third-party researchers) and so on.
2b. Futuristic technology – You need to describe the features of the product and describe the technology involved. You can compare it with previous technology and explain how this technology is “futuristic” or different.
Extension of 2a. Two advantages of the new product /service (please take note that I’m shifting this portion after 2b) – in this section, you will focus on the advantages of the product for users/consumers.
2c. – research and write on one challenge the company is facing when developing the product. It could be any challenge in the R&D process, in production, in quality control, in sourcing for materials, in evaluating the features, etc. You can write about ANY challenge as long as it is related to the development of the new product.
2d. – cultural factors that affect consumer behaviours and their buying decisions – give examples of how the company has adapted to the foreign country’s culture (language, beliefs and values, social status, demographics/ age groups, buying power, perceived value of goods, etc)
Part 3 – Contributing to the Environment (600 words)
3a. two reasons why protecting the earth is important for this company – you may prove how much environmental damage this company could possibly cause if they did not protect the environment. You could also talk about how customers are more environmentally-conscious and demand for eco-friendly products these days.
3b. Research on how the company is attempting to reduce pollution (what type of pollution and how). Also describe ways they are protecting the health of their customers with relations to their product / service.
3c. What natural resources are they currently using? How can they reduce and what alternative resources can they use? Alternative resources may be renewable energy sources or biodegradable materials for their products.
3d. 3Rs – Based on your research, write about the ways the company is already doing the 3Rs. If you cannot find information on that, you can suggest how this company can do the 3Rs and back up with research on how that would contribute to saving the environment.
Part 4 – Conclusion
4a. A short write up on the highlights of your research in part 2 and 3.
4b. Describe how this company will benefit from having this new product. For instance, how will the futuristic technology attract more customers / increase the company’s market share / help create brand awareness?