Trace a real or hypothetical new product through the steps

Question

Trace a real or hypothetical new product through the steps in the new product development process, including idea generation, concept verification and testing, actual development, and test marketing. Discuss the establishment of "go/kill" points, meaning the criteria used to determine whether to proceed with the new product idea or abandon it at various stages in the process.

The idea generation stage should include potential sources of ideas such as trend monitoring, serendipity, or customer focus groups. The concept testing stage should include possible modifications based on feedback from potential customers, such as asking customers how this new product idea compares with present ways of the need the new product is intended to satisfy.

The final paragraph (three or four sentences) of your initial post should summarize the one or two key points that you are making in your initial response.

Answer 1

Outline a real or theoretical new product via the steps in the new product development procedure, comprising idea generation, concept verification and testing, real development and test marketing. Illustrate the establishment of ‘go/kill’ points, meaning the criteria employed to find out whether to proceed by the new product idea or abandon it at different phases in the procedure. The idea generation phase must comprise potential sources of ideas like trend monitoring, serendipity or customer focus groups. The concept testing phase must comprise possible modifications based on feedback from the potential customers, like asking customers how this latest product idea compares by means of present ways of the require the new product is proposed to satisfy. The final paragraph of your initial post must summarize the one or two main points which you are making in your initial reply.