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Seneca College
Accounting MRK108
Rohan Singh

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 Catneoiesdoufcts
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