Steps Involved in Developing Mobile Phones

Topics: Marketing, Product management, Marketing management Pages: 3 (941 words) Published: February 17, 2011
Product Development Stages|

The new-product planning process involves a series of steps from idea generation to commercialization.Idea Generation  Idea generation is a continuous, systematic search for new product opportunities. It involves delineating sources of new ideas and methods for generating them. Methods for generating ideas include brainstorming (small-group sessions which stimulate a wide range of ideas), analysis of existing products, and surveys. Many marketing analysts suggest that an open perspective is essential: the ideas of different people should be sought; a large number of ideas should be generated; and ideas should not be criticized, no matter how offbeat they first appear.Product Screening  After the firm identifies potential products, it must screen them. In product screening, poor, unsuitable, or otherwise unattractive ideas are weeded out from further actions. Today, many companies use a new-product screening checklist for preliminary evaluation. In it, firms list the new-product attributes considered most important and compare each idea with those attributes. The checklist is standardized and allows ideas to be compared.See example of screening checklist below.GENERAL CHARACTERISTICS OF NEW PRODUCTS  Profit potential 

Existing competition 
Potential competition 
Size of market 
Level of investment 
Level of riskYou can donwload excellent powerpoint slides on marketing management and business strategy here.MARKETING CHARACTERISTICS OF NEW PRODUCTS  Fit with marketing capabilities 
Effect on existing products (brands) 
Appeal to current consumer markets 
Potential length of product life cycle 
Existence of differential advantage 
Impact on image 
Resistance to seasonal factorsPRODUCTION CHARACTERISTICS OF NEW PRODUCTS  Fit with production capabilities 
Length of time to commercialization 
Ease of product manufacture 
Availability of labor and material resources 
Ability to produce at competitive...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • What Are the Steps Involved in Developing a Marketing Plan? Essay
  • Mobile Phone Essay
  • Mobile Phone Essay
  • Mobile Phones Essay
  • Mobile Phone Essay
  • Essay on mobile phone
  • Essay on Mobile Phone
  • Mobile Phones Essay

Become a StudyMode Member

Sign Up - It's Free