Water Wastage in Tasmania - Product Innovation Charter - Management Assessment Answer

Water Wastage in Tasmania Management Assessment Answer

• Noting the ecosystem and the issue (Water Wastage in Tasmania) you have previously identified in relation to your target segment in the past modules, now thinking about relevant driving forces and form a Product Innovation Charter (PIC) (i.e. background, focus, goals and objectives, and guidelines) to guide your ideation 
• Based on the identified issue, develop at least 2 ideas for your target segment, and turn them into concepts using new concept development by drawing or stating their benefit/need, technology and form
• Make use of pugh selection method to rank multidimensional options and conclude by stating which idea is worth pursuing (and why)

• Analysis of relevant entrepreneurial ecosystem addressing a particular venture-related problem (Water wastage in Tasmania) or domain, in line with the University’s research theme
• A brief analysis on the market trends, your target segment, insights and context (e.g. geodemographics, lifestyles, psychographics, need states, benefits sought, consumer journey, and other important insights), including design of Persona
• Product Innovation Charter [guiding ideation]
• Venture Ideation and Screening:

1. State Problem (Water wastage in Tasmania) descriptions (pain points) that underlie a particular issue
2. 3 innovative ideas (3 alternatives) to solve that particular problem
3. Turn ideas into concepts (concept statement: Brand Name, positioning, attributes and benefits, design, augmentation, competitive advantage, scalability)
4. Pugh selection method

• Summary and implications for developing those 3 new venture ideas - (which one is best and why?)
• Deliverable: expected outcomes of the project and its impact on the community and broader society.  

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