The document outlines the New Product Development (NPD) process, which transforms market opportunities into marketable products. It emphasizes the importance of planning, customer satisfaction, and achieving commercial success while adhering to time and budget constraints. Key stages of NPD include idea generation, product screening, concept testing, business analysis, product development, test marketing, and commercialization.

1. SUBMITTED TO:- RAMESH DEVRATH
SUBMITTED BY :- ANIKET
SECTION :- “A” MBA
SUBJECT :- MARKETING

2.  new product development (NPD) is the
complete process of bringing a new product to
market.
 New product development is described in the
literature as the transformation of a market
opportunity into a product available for
sale and it can be tangible or intangible.

3.  Plan:
A key objective for product management is planning and
developing the specifications for a range of products or a
product portfolio that meets your long-term strategic plan.
 Customers:
Product managers must ensure that products meet or exceed
customer needs.
 Success:
The ultimate measure of product management is commercial
success, according to Innovation Process Management
 Delivery:
Product managers have to meet time and budget objectives.
To meet the demands of the market and counter competitive
pressures, they must be able to conclude product
development programs on time and on budget.
 Marketing:
Product management and marketing management share
similar objectives, which are to maximize revenue and profit
by meeting customer needs

4.  IDEA GENERATION
 PRODUCT SCREENING
 CONCEPT TESTING
 BUSINESS ANALYSIS
 PRODUCT DEVELOPMENT
 TEST MARKETING
 COMMERCIALIZATION