How to improve a product

1. Solution & Unique Value Proposition Statement (1 page)
   • Describe your innovative solution, how will it work? What is most important to your early adopter?
   • Write out your complete Unique Value Proposition statement using the sentence structure in the Unique Value Proposition worksheet. Make the statement BOLD.
   • What feedback have you received regarding your solution? How have you responded to it?
   • Discuss the feasibility of the solution. How will your available means help you to deliver on the features that are most important to the early adopter?
2. Existing Alternatives (1 page)
   • Drawing from the “Existing Alternatives” worksheet, identify the major alternatives.
   • Where are the competitors failing? Why don’t they solve the problem satisfactorily? Discuss & explain the weighted scores; why do you believe there is an opportunity?
   • Describe the most important & unique features of your solution and provide evidence that your early adopters value these features.
3. Conclusion (1/2 to 1 page)
   • Conclude your assignment by detailing the next steps for your idea. If you were to continue with the idea, what would you do next? Consider the following:
   • Who do you need to talk to?
   • What information do you need?
   • What experiment would you “build” next? What would you hope to “measure” from this experiment?
   Rubric Categories:
   • A+/A = Outstanding: Far exceeds the basic requirements of the assignment, above and beyond in every way.
   • A-/B+/B = Excellent: Exceeds the basic requirements of the assignment.
   • B-/C+/C = Good: An average submission that meets the basic requirements of the assignment.
   • D+/D = Below Average: A poor quality submission that does not meet the basic requirements of the assignment.
   • F = Unacceptable: An unacceptable submission that meets few, if any, of the basic requirements of the assignment.
   The components that will be analyzed are (Total: 75 marks)
4. Problem Identification (10 marks): quality of response, demonstration of understanding, nature of the problem, validation & support.
5. Early adopter/customer segment (10 marks): quality of response, level of detail, alignment with problem, validation & support.
6. Solution & Unique Value Proposition (10 marks): quality of response, use of course concepts, clear concise structure that effectively describes the business, feasibility of solution & student’s ability to deliver (10 marks).
7. Existing Alternatives (15 marks): quality of response, validation & support, explanation & justification of scores.
8. Conclusion (5 marks): quality of response, depth of student’s application of course concepts, level of detail, appropriateness of next steps.
9. Overall Impression (5 marks): grammar, spelling, formatting, clear concise sentence structure, use of class concepts.
10. Research (5 marks): Quality, quantity & use of primary & secondary research.
11. Citations (5 marks): structure of citations & reference list.

Sample Solution