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    Emma Pop
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    The document outlines a new product development strategy involving 7 key steps: 1) idea generation through internal/customer/competitor sources, 2) product screening and concept testing to reduce ideas, 3) business analysis reviewing sales/costs/profits, 4) product development to construct the physical product, packaging and branding, 5) marketing tests, 6) selling the new product, and 7) continuous development of new products and services is needed given changing consumer tastes and competition.

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    Development Strategy

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    The document outlines a new product development strategy involving 7 key steps: 1) idea generation through internal/customer/competitor sources, 2) product screening and concept testing to reduce ideas, 3) business analysis reviewing sales/costs/profits, 4) product development to construct the physical product, packaging and branding, 5) marketing tests, 6) selling the new product, and 7) continuous development of new products and services is needed given changing consumer tastes and competition.

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    © All Rights Reserved
    Download as PPSX, PDF, TXT or read online from Scribd
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    Download as ppsx, pdf, or txt
    16 views10 pages

    Development Strategy

    Uploaded by

    Emma Pop
    The document outlines a new product development strategy involving 7 key steps: 1) idea generation through internal/customer/competitor sources, 2) product screening and concept testing to reduce ideas, 3) business analysis reviewing sales/costs/profits, 4) product development to construct the physical product, packaging and branding, 5) marketing tests, 6) selling the new product, and 7) continuous development of new products and services is needed given changing consumer tastes and competition.

    Copyright:

    © All Rights Reserved
    Download as PPSX, PDF, TXT or read online from Scribd
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    of 10

    New Product

    Development Strategy
    INTRODUCTION

     Given the rapid changes in consumers


    tastes, technology and competition,
    companies need to produce a continuous
    stream of new products and services.
    Steps in the process of creating
    new products

    Selling
    Product
    development
    Business & Marketing
    Analysis Test

    Product
    screening &
    Concept
    testing
    Ideea
    generation
    Ideea generation
     The development of a new product begins with the
    generation of ideas - a systematic search for new
    product ideas

    Internal
    Customers sources

    Competitors&
    Suppliers

    Sources
    Product screening & Concept testing

     Reducing the number  Testing the concept

    of ideas of the new product


    on a target group of
     Select suitable
    consumers.
    product ideas
    Business Analysis

     Business analysis involves a review of:

    Sales

    Costs

    Profits
    Product development
     Convert a product idea into a physical form.

     It involve Product
    constructions
    Packaging Branding
    Usage
    testing
    Marketing Test
    Offers the merchant experience in product

    marketing before selling.

    Allows the company to test the product and

    its entire marketing program.


    Selling the new product

     Move the product to its launch into the

    market.
    Thank you for your attention!

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