Managing New Products Ideas To Strategy

The process of developing new products spans eight stages, each with a particular set of marketing challenges and questions to answer (see Figure 3-8). If the company cannot answer "yes" to the key question at each of the first six stages, the new product will be dropped; in the final two stages, the company has the option of further development or modification rather than immediately dropping the new product. This section covers the stages from idea to strategy and analysis; the following section covers the stages from product development through market testing and commercialization.

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