Product Development

•Come up with a conceptual product idea
•Profile the Target Market (customer)
•Perform a Competitive analysis

Product

•A product is a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is received in exchange for money or some other unit of value. 

Product Planning / Development

•Refers to the systematic decision making related to all aspects of the development and management of a firms products

Product Development

•“New” products are created as the result of an idea or perceived “gap” in the current world.
•It usually arises from a need or want that cant be immediately filled and leads to the question…
“Why don’t I create and sell that product?”

•In order for a new product idea to succeed, it MUST be or have:
•Desirable attributes for their target market
•Be unique
•If the new product is not these things it is doomed to fail.

Stages of Product Development

•Idea Generation
•Idea Screening
•Concept Development
•Market Strategy
•Feasibility Analysis / Study
•Product Design
•Test Marketing
•Market Entry


Modifié le: mardi 14 août 2018, 08:31