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STEP 1: IDEA GENERATION
Ideas from various sources such as customers,
sales force, R&D specialists, competing products,
suppliers, retailers
STEP 1: IDEA GENERATION
Ideas from various sources such as customers,
sales force, R&D specialists, competing products,
suppliers, retailers
STEP 2: SCREENING
Screening separates ideas with commercial
potential from those that cannot meet company
objectives
STEP 3: BUSINESS ANALYSIS
Assessing 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 ANALYSIS
Assessing 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: DEVELOPMENT
Converts an idea into a visible product – build
prototype
STEP 5: TEST MARKETING
To 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 MARKETING
To 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: COMMERCIALIZATION
Full-scale marketing

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Cd6813 npd

  • 1.
  • 2. STEP 1: IDEA GENERATION Ideas from various sources such as customers, sales force, R&D specialists, competing products, suppliers, retailers
  • 3. STEP 1: IDEA GENERATION Ideas from various sources such as customers, sales force, R&D specialists, competing products, suppliers, retailers STEP 2: SCREENING Screening separates ideas with commercial potential from those that cannot meet company objectives
  • 4. STEP 3: BUSINESS ANALYSIS Assessing 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
  • 5. STEP 3: BUSINESS ANALYSIS Assessing 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: DEVELOPMENT Converts an idea into a visible product – build prototype
  • 6. STEP 5: TEST MARKETING To 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
  • 7. STEP 5: TEST MARKETING To 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: COMMERCIALIZATION Full-scale marketing