Assignment:
Assignment Topic: Consider an idea that you have had for a new product; a product that falls into that category of "Gee, I wish someone would develop_______..." or "...I' ll bet ______ would be a great product."
Here is your chance to develop the idea into a potential product!
Follow the 7 stages in the new product development process , submitting one explanatory paragraph for each of the 7 stages. Identify the stage, page number, & the specific application to your new product idea.
Be creative. Where you may lack data to completely consider any of the 7 stages with respect to your imagined product, explain what would be necessary and/or what you know about the respective stage, as it relates to the product you are developing.
Note: Remember that you are "imagining" or "creating" the information versus information that actually exists.
Throughout each stage, be specific in the summary of your idea/product.
The first stage of the new product process is Strategy Development. covers strategy development and defines the process as the stage in which a company plans for the integration of this new product and how this product will fit into the company's mission or goals.
The second stage of new product process is Idea Generation. , idea generation stage is where the company attempts to improve on the original product idea.
The third stage of the new product process is the Screening and Evaluation Phase., this stage is where the company evaluates the technical feasibility of the new product.
The fourth state of the new product process is the Business Analysis Stage., this stage specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections.
The fifth stage of the new product process is Development. , the development stage is the stage that turns the idea on paper into a prototype.
The sixth stage of the new product process is Market Testing. market testing is the process of exposing actual products to prospective consumers under realistic purchase conditions to see if they will purchase the new technology
The final stage of the new product process is Commercialization. , commercialization is the process that positions and launches a new product in full-scale production and sales.