The document discusses new product development and the product life cycle. It describes the 7 stages of new product development: 1) idea generation, 2) idea screening, 3) product concept development, 4) marketing strategy development, 5) business analysis, 6) product development, and 7) commercialization. It then explains the 4 stages of the product life cycle: introduction, growth, maturity, and decline. The document provides details about the characteristics of each stage of the product life cycle.

4. 8-3 Seller’s services Product quality Physical characteristics of goods Price Brand Design Packaging Product warranty Seller’s reputation Color

11. Product development process seven steps