Steps Involved in Developing Mobile Phones
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
Patentability
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
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
Patentability
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