Cd6813 npd
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Transcript of Cd6813 npd
STEP 1: IDEA GENERATIONIdeas from various sources such as customers,
sales force, R&D specialists, competing products,
suppliers, retailers
STEP 1: IDEA GENERATIONIdeas from various sources such as customers,
sales force, R&D specialists, competing products,
suppliers, retailers
STEP 2: SCREENINGScreening separates ideas with commercial
potential from those that cannot meet company
objectives
STEP 3: BUSINESS ANALYSISAssessing the potential market, growth rate and likely competitive strengths.
Concept testing subjects the product idea to
additional study prior to its actual development – to
measure consumer attitudes and perceptions about
the new product idea
STEP 3: BUSINESS ANALYSISAssessing the potential market, growth rate and likely competitive strengths.
Concept testing subjects the product idea to
additional study prior to its actual development – to
measure consumer attitudes and perceptions about
the new product idea
STEP 4: DEVELOPMENTConverts an idea into a visible product – build
prototype
STEP 5: TEST MARKETINGTo gauge consumer reaction
To verify that the product will perform well in real-life business environment. If the product does well, the company can process to commercialization
STEP 5: TEST MARKETINGTo gauge consumer reaction
To verify that the product will perform well in real-life business environment. If the product does well, the company can process to commercialization
STEP 6: COMMERCIALIZATIONFull-scale marketing