New Product Development Process
2011
[Πληκτρολογήστε το όνομα της εταιρείας]
1/11/2011
UNIVERSITY OF WALES-BRITISH HELLENIC COLLEGE
ASSIGNMENT FOR EBA 314
MARKETING
TUTOR: GEORGE PAPADOPOULOS
PROJECT MAKERS: MATINA SKLAVOU, ALEXIS ZAGORAS, GEORGE MICHAEL
Sweet Balance Restaurant
New Service Development
Table of Contests: 1) New Service Development Process 1.1) Company Description
2) Industry Analysis
2.1) Market Trends & the Future
2.2) Competition
2.3) Healthy Food Alternative
3) Screening
4) Swot Analysis
5) Concept Testing
6) Business Analysis
6.1) Costs
6.2) Sales & Profits
7) Market Testing 7.1) Test Market (Questionnaire)
8) Commercialisation 8.1) Target Market 8.2) Product
9) Marketing Mix 9.1) Marketing Mix theory (7ps) 9.2) Marketing Mix of Sweet Balance
10) Sweet Balance Restaurant’s Menu
11) Media Marketing
New Product Development Process Because introducing new products on a consistent basis is important to the future success of many organizations, marketers in charge of product decisions often follow set procedures for bringing products to market. In the scientific area that may mean the establishment of ongoing laboratory research programs for discovering new products (e.g., medicines) while less scientific companies may pull together resources for product development on a less structured timetable. In this section we present a 7-step process comprising the key elements of new product development. While some companies may not follow a deliberate step-by-step approach, the steps are useful in showing the information input and decision making that must be done in order to successfully develop new products. The process also shows the importance market research plays in developing products.
We should note that while the 7-step process works for most
[Πληκτρολογήστε το όνομα της εταιρείας]
1/11/2011
UNIVERSITY OF WALES-BRITISH HELLENIC COLLEGE
ASSIGNMENT FOR EBA 314
MARKETING
TUTOR: GEORGE PAPADOPOULOS
PROJECT MAKERS: MATINA SKLAVOU, ALEXIS ZAGORAS, GEORGE MICHAEL
Sweet Balance Restaurant
New Service Development
Table of Contests: 1) New Service Development Process 1.1) Company Description
2) Industry Analysis
2.1) Market Trends & the Future
2.2) Competition
2.3) Healthy Food Alternative
3) Screening
4) Swot Analysis
5) Concept Testing
6) Business Analysis
6.1) Costs
6.2) Sales & Profits
7) Market Testing 7.1) Test Market (Questionnaire)
8) Commercialisation 8.1) Target Market 8.2) Product
9) Marketing Mix 9.1) Marketing Mix theory (7ps) 9.2) Marketing Mix of Sweet Balance
10) Sweet Balance Restaurant’s Menu
11) Media Marketing
New Product Development Process Because introducing new products on a consistent basis is important to the future success of many organizations, marketers in charge of product decisions often follow set procedures for bringing products to market. In the scientific area that may mean the establishment of ongoing laboratory research programs for discovering new products (e.g., medicines) while less scientific companies may pull together resources for product development on a less structured timetable. In this section we present a 7-step process comprising the key elements of new product development. While some companies may not follow a deliberate step-by-step approach, the steps are useful in showing the information input and decision making that must be done in order to successfully develop new products. The process also shows the importance market research plays in developing products.
We should note that while the 7-step process works for most
Bibliography: 1. Graham, T. (2006). Management Accounting Business Strategy. SIMA Publishing Publications, UK. 2. Kotler, P., Keller, K 3. Blair, A., Hitchcock, D. (2001). Environment and Business. Routledge, London. 4. Byars, L.; Rue, L