New Product Development

New Product Development
M. Badger
April 15, 2011

    The revolutionary cleaning product would be the new and improved mop. Phase one: Idea generation, create a panel of housewives or cleaning crew and ask them what they would want to see in a new product. Phase two: Product concept development and screening, have the marketing expand on these ideas and compare them to what is already on the market.   Phase three: Marketing strategy development, identify that the housewife/man and cleaning companies are who the marketing targets are. Marketing strategy must figure the best pricing, distributing, and promoting to make this new product look even better than what’s on the market now. Phase four: Business analysis, must make sure the company has the proper resources required for success. They will assess that the mop will fit into the firms total product mix, make sure it will increase sales. Phase five: Technical development, after the mop has gone through the scrutiny of the business analysis, it then his the firms engineers to work their magic in refining what needs to be fixed in the design. This will help perfect the product before it hits the market. Phase six: Test marketing, take the product to a local (small geographical area) Sams club, that way the marketing plan can be tested through its distribution, advertising and sales promotion. Phase seven: Commercialization, this phase requires the works; full-scale production, distribution, advertising and sales promotion. Put into action the full scale marketing plan. A great way to launch this product would be to have an eye catching infomercial. Take a person like Billy Blanks who is well known for his blue shirt and loud voice. People trust him because they know he will only sell products he believes in. Make sure the marketers have an understanding of the full scale market plan. [continues]

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