AS 91871 · 4 credits · Internal
Product innovation value chain
Analyse how a product meets market needs through innovation in the value chain
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In plain EnglishAI study guide · check the NZQA standard
You need to pick a real product and trace how it's been improved through innovation at some stage in its journey from maker to customer. Then explain why that innovation helps it sell better and meet what customers actually want. This is about understanding how businesses add value and stay competitive.
What to do, grades and common mistakes
What you actually do
- ·Identify the complete value chain for your chosen product (who makes it, how it's marketed, how it reaches customers, etc.)
- ·Pinpoint one specific innovation that has occurred somewhere in that chain (a new technology, process, method, or business partnership)
- ·Explain what market need or customer problem that innovation addresses
- ·Show how the innovation adds value to the product and makes it more attractive to buyers
- ·Discuss the wider effects and implications of that innovation on the entire value chain
AAchieved
You explain the value chain steps for a product, identify an innovation at one stage, and describe how it meets a customer need.
MMerit
You provide a thorough explanation of how the innovation adds genuine value to the product and strengthens its competitive position.