functional areas of the
ototype of the product. The firm will alsoow well the
ent process with the objectives of the t process. At this stage a decision will be
oyees, distributors, competitors, vendmarketing program to determine the reactions of
screening stage move to the business analysis
the organization’s new product strategy. Concept
firm’s establor new market segments. sual representations of a proposed product) are often
salnse about the market potential of the product. revenues
process works best when all
However, it is a very costly alternative.
allow the firm to enter an established market.
product may be significantly or slightly changed.
many logistical considerations.
ion. It allows evaluating of alternat
Improvements or revisions of existing products—the new and improved
New-to-the-world products—Repositioned products—these are existing products targeted at new markets
New product lines—these products, which the firm has not previously offered,ent a
—a plan that links the new prnew product ideas that survive the initial
—the final stage in the new product developmen
new produeliminates ideas that are incthis is a limited introduction of a product and a
the R&D or engineering department may develop a pr
New Product Development Process