The new product development process

The new product development process

Idea generation

The systematic search for new-product ideas.

Idea screening

Screening new-product ideas in order to spot good ideas and drop poor ones as soon as possible.

Concept testing

Testing new-product concepts with a group of target consumer to find out it the concepts have strong consumer appeal.

Marketing Strategy Development

Designing an initial marketing strategy for a new product based on the product concept

Business analysis

A review of the sales, costs, and profit projections for a new product to find out whether these factors satisfy the company’s objectives.

Product Development

Development the product concept into a physical product in order to ensure that the product idea can be turned into a workable product.

Test marketing

The stage of new-product development in which the product and marketing program are tested in more realistic market settings.


Introducing a new product into the market.

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