Stages in NPD include eight basic steps. They are explained in the slides.

1. z
NPD or new product development process
is the process of bringing a new product in
the market
New product development process

2. z
There are two terms
1. Invention - completely new one which has never existed
before
 Telephone was invented for communication
1. Innovation - means adding and modifying some features to an
existing product
 Smartphones with new features

3. z
There are eight stages in new
product development process
1. Idea generation
2. Idea screening
3. Concept develop and testing
4. Marketing strategy
5. Business analysis / feasibility study or analysis
6. Product development / product design
7. Test marketing
8. Commercialization / market entry

4. z
1. Idea generation
 An invention or innovation as a result of a gap in the current
market
 An idea to produce a new product or service not currently
available

5. z
2. Idea screening
 Not all ideas you have developed may be good ones
 Marketers need to test customers reaction to their idea
before they go on
 Throw the idea around and see what people think and
eliminate bad ideas

6. z
3. Concept develop and testing
 If the feedback from customers and business associates is
positive, create a sample or prototype
 This stage will allow you see if the product works, you allow
your target market to use it/ provide feedback for
improvements

7. z
4. Marketing strategy
 The development of your marketing plan/strategy
 Determine your target market and decide how to use the 4 p’s to
optimally sell them your product

8. z
5. Business analysis/ feasibility study
or analysis
 Many questions are answered in this stage
For instance ;
 Materials / labour required?
 Price of production?
 Distribution channels?
 Cost of promotion?
“can we make and sell this product and make money doing it?”

9. z
6. Product development / design
 While business analysis, receiving feedbacks according to
consumers want/need constantly
 What the product will look like should depend on what the
target market want & what it does

10. z
7. Test Marketing
 Test the acceptance of the product
 Do consumers like it
 Will they accept it
 May they buy
 Usually carried out by offering the product to a random sample
of your target market
 Consumers feedbacks are used to improve the venture and
decide whether “it should go to market”

11. z
8.Market entry / commercialization
 When the test marketing is successful the product is then
officially “in the market” and being sold to all
 Then the “product life cycle” begins.

12. z
thank you🙏
 Presented by; leishemba meitei