m2

1. What are the main stages
in developing new products
and services?

2. Stages in developing new products and
services
Many top companies use the stage-gate
system to divide the innovation process
into stages, with a gate or checkpoint at
the end of each.
Stages in new product development
process as follows:-

3. 1.IDEA GENERATION
Is the idea
worth
considering?
YES
N
O
DROP
Go to next
stage

4. 2.IDEA SCREENING
Is the product
idea
compatible
with company
objectives,
strategies and
resources?
YES
N
O
DROP
Go to next
stage

5. 3.Concept development and testing
Can we find
good concept
consumers say
they would try?
YES
N
O
DROP
Go to next
stage

6. 4.Marketing strategy development
Can we find a
cost effective
affordable
marketing
strategies?
YES
N
O
DROP
Go to next
stage

7. 5.Business analysis
Will this
product meet
our profit goal?
YES
N
O
DROP
Go to next
stage

8. 6.Product development
Have we got a
technically and
commercially
sound product?
YES
N
O
DROP
Go to next
stage

9. 7.Market testing
Have product
sales met
expectations?
YES
N
O
Send the idea
back for product
development?
Go to next
stage
N
O
DROP
YES
Go to 6th
stage

10. 8.Commercialization
Are product
sales meeting
expectations?
YES
N
O
Modify the product
or marketing
program
Make future
plans
N
O
DROP
YES