No.26 ~ Stages of New Product Development | Idea Generation | Screening | Testing | Analysis || скачать в хорошем качестве

No.26 ~ Stages of New Product Development | Idea Generation | Screening | Testing | Analysis ||

📕 Production and Operation Management Book Series 📕    • Production & Operation Management Book Series   ======================================== 📕 Advertising Management Book series 📕    • Advertising Management Book series   ======================================== ✅ How to Purchase Production and Operation Management Book PDF ✅    • How to purchase Production and Operation M...   ======================================= 00:00 Starting 00:20 Idea generation 01:01 Idea screening 01:48 Concept testing 02:43 Business analysis 03:40 Product development 04:39 Test marketing 05:24 Commercialization Stages of new product development 1.) Idea generation 2.) Idea screening 3.) Concept testing 4.) Business analysis 5.) Product development 6.) Test marketing 7.) Commercialization 1.) Idea generation It is the first step in the new product development process. A new idea can be generated by an individual or by a group of people. This new idea can be more than one but has to choose what is best. 2.) Idea screening The product idea should be studied and investigated properly before introducing it into the market. If there are numbers of ideas then rank them in ascending order according to their importance. 3.) Concept testing In this step, concept testing of the selected idea is done. The company select a random group of people for testing. Now the new product idea discusses with this group of people, and they are asked to share their liking and disliking. 4.) Business analysis In this step of development company makes a depth study. Here the company study that whether the product is financially viable or not. The company analyzed the Product demand, cost, competitiveness, profitability, expected sales, etc. 5.) Product development At this stage, the actual manufacture of a new product takes place. Its other aspects like financing, marketing, and distribution, and promotion begins. 6.) Test marketing It means to introduce the product on a small scale, to judge that how customers react to the product. Whether they purchase it or not. If the test becomes successful then production starts on a large scale. 7.) Commercialization As we discussed in the earlier step that if the product gets successful in the test marketing, then the company started its production on large scale. The company makes a large investment in the production of the product, distribution, marketing, etc.