The document outlines an 8-step process for developing new products that includes evaluating customer requirements, generating innovative ideas, developing product prototypes, conducting market research, validating ideas through testing, determining financial feasibility and pricing, implementing the product, and refining the process.

1. FICCI CE
1. Opportunity evaluation -
Customer's present & future
requirements
Customer's unperceived &
unarticulated needs
8. Implementation,
vendor development & 2. Idea generation,
Process refinement Creativity & innovation
7. Validation - New product
Prototype testing, field 3. Product
trials
development positioning
& market feedback Cycle and pricing options
6. Financial 4. Feasibility check on
evaluation- ideas,
Commercial styling, costing, souring
evaluation, & resource requirements
Logistics
evaluation 5. Market research -
Present, Future &
Worst case scenario

2. FICCI CE