New Product: Seven-Stage Process

Topics: Idea, Management, Creativity Pages: 3 (664 words) Published: October 17, 2010
New product

Li Yuan

Dip Fin 16B1

1. Idea generation-there are many sources to help them to generate the new idea.

Business analysis-what is the potential for sale, costs, and benefit?

2. Idea generation is the first stage of new product development. The idea is creative thinking. that is new product ideas or creative process. Lack of good new product idea has become the bottleneck of industry of new product development. A good new product idea is a key of new product development success. Companies usually from internal and external sources find new product ideas.

First, from the internal sources, in the company of internal personnel the research and development department, sales staff and senior management personnel of new product design is extremely important and a wide range of sources. Research and development of new product design department is the most important source of content. Sales personnel often communicate with customer, Familiar with the user's requirements; Initiative asks the user what the new demand of product. Collect the suggestions of user for enterprise in new product development direction. Senior management department in the examination and adjust enterprise general management strategy, may get a new product development conception.

Second, from the external sources they are customers, competitors, advertising agencies, management consultants, and research organizations. Lextant as a external sources, accept client demand, Survey of consumer demand conditions, then trigger new product ideas for the client. In other ways, Lextant help the company internal personnel to come up with several good ideas.

Business analysis is included business at the expected sales, cost and profit meets the company targets, as to this concept to the further development of product to product development stage. To assess whether the new products to adapt to the market mix, which is impact of product...
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