Assume yourself as a marketing specialist of a company and determine the new product development process by manufacturing a new product for your company?

anyone have answere?

The Productisation produce is:

1. Ideation/Conceptualisation

This has to do with the generation of a product or service idea;

2. Research / Concept Testing Stage / Analysis

This stage has to do with the research around the idea to determine the availability of market for the product, size and target segment within the market, Growth Potential, competition analysis and current and potential issues that may arise due to the creation of the product;

As a substage of the research phase, a business analysis of the viability of the product is also carried out. this will entail

Cost-Benefit Analysis Resources Required Capital Expenses Profitability/Margin Anticipated Sales

3. Design/Creation of Prototype/Development

For physical products, this stage will look at on-paper design from which a prototype will be created.

After testing to ensure that the prototype works, it is then sent for development. This stage also involves market tests.

4. Launch

This is the final stage of the product development process.

It entails all the go-to-market activities such as market plan execution, sales/production training, execution of distribution plan.

It is possible at this stage to still collect product-related feedback from the market for consideration in the upgrade version of the product to be launched at a later date.

Cheers!