Business School

The process of developing a new product/service or improving an existing product/service

Objective	The objectives of this competition category are: – Registered candidates to acquire practical knowledge and skills – Registered candidates to familiarize themselves with the conditions for study and the possibilities of the faculties that are involved in the implementation of the campaign
Description	The selection of registered candidates is done in two parts. First part 50% – Development process of a new product / service or improving an existing product/service First phase Idea generation Second stage Evaluation of ideas / Idea screening Third phase Development of the concept and testing / Concept development and testing Fourth stage Business Analysis/ Business Analysis Fifth stage Product Development / Product Development Sixth phase Marketing testing/ Test Marketing Seventh phase Commercialization / Commercialization and product launch Second part 50% – Public presentation
Topics of public presentation	New product/service development Improving an existing product/service
Partners	Business community

 

Why apply to this category?

The goal of the campaign is to create real and quality products/services by the candidates, as a task assigned by the partner companies participating in the campaign. Through the campaign, the cooperation of higher education institutions and the real sector, which is more than necessary, will be made concrete. The theoretically acquired knowledge of the candidates acquired during the education will be implemented, their potential and creativity will be promoted, and the quality of the educational process offered by the University will also be emphasized. Such a concept enables the complete implementation that could be given by an established company, given the variety of education that all the candidates who are part of this campaign have.

What will you get?

By applying for this application, candidates will have the opportunity to work with university professors from the Faculty of Economic Sciences, follow practical workshops and trainings from experts and representatives of the business community, as well as network with the students of AUE FON in order to acquire new knowledge, skills and experiences.

How will it be realized?

By clicking on the application for this category, you decide to be part of the process for developing a new or improving an existing product/service through theoretical study and practical application of it in partner companies. After the process is presented, all of you, through daily communication with the mentors of the specific category, will receive instructions for the further course of activities. These activities include workshops and trainings with university professors from the Faculty of Economic Sciences and representatives from the business community.

What are the evaluation criteria?

Product/service management opportunities and the impact of current market conditions on the product/service portfolio and life cycle, the characteristics of successful and unsuccessful products, and how to sustain them in the market are considered.

Competition, market trends, target group are identified, market research is conducted, the decision-making process of buyers is analyzed and distribution channels are considered.

It is necessary to make and create explanations for the very concept of the product/service and its packaging, for its design solutions as well as a complete marketing promotion of the product/service in the market.

Be fully knowledgeable and confident in how to manage products/services in the new world of the twenty-first century.

Who should apply to this category?

Each of you, who possesses knowledge, skills, interest in business ideas and their realization, leadership skills, desire for market research and competition monitoring, product/service management, strategy building and marketing mix application, process analysis of making decisions and anticipating the changes and needs of modern life.