What is product development and why is it necessary, Marketing Management

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What is product development and why is it necessary

Problem

I. What is product development and why is it necessary?

II. Explain of the following stages of product development.

i. Idea generation
ii. Screening
iii. Economic analysis
iv. Technical development
v. Test marketing
vi. Commercialization

III. What is a sales potential and why is it an important criteria in product development

IV. How important is potential competition in product development?

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Marketing Management: What is product development and why is it necessary

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