New product development decision process diagram
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The document outlines an 8-step new product development decision process that includes: 1) generating product ideas, 2) screening ideas, 3) developing and testing concepts, 4) analyzing business factors, 5) developing marketing strategies, 6) developing the product, 7) market testing, and 8) commercializing successful products. At each step, decisions are made to modify the product, marketing, or send the idea back for further development based on testing and analysis.
![The New-Product-Development Decision Process http://www.drawpack.com your visual business knowledge business diagrams, management models, business graphics, powerpoint templates, business slides, free downloads, business presentations, management glossary Coordinate, stimulate, and search for ideas in external environment and among company personnel ,[object Object],[object Object],[object Object],Develop alternative product concepts Buy equipment and go into full production and distribution Go into limited production, prepare advertising ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],DROP Lay future plans 7. Market testing Have product sales met our expectations? 6. Product development Have we developed a product that is sound technically and commercially? 5. Business analysis Will this product meet our profit goal? 4. Marketing strategy development Can we find a cost-effective, affordable marketing strategy? 3. Concept developing and testing Can we find a good concept for the product that consumers say they would try? 1. Idea generation Is the particular idea worth considering? 2. Idea screening Is the product idea compatible with company objectives, strategies, and resources? 8. Commercialization Are product sales meeting our expectations? Yes Yes Yes Yes Yes Yes Yes Yes Would it help to modify our product or marketing program? Should we send the idea back for product development? No No No No No No No No Yes Yes](https://image.slidesharecdn.com/newproductdevelopmentdecisionprocessdiagram-110308060640-phpapp01/85/New-product-development-decision-process-diagram-1-320.jpg)
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New product development decision process diagram
- 2. Drawpacks Business Diagrams Drawpack.com offers these premium Business Diagrams for students and professionals around the globe for their personal use for free. Please enjoy these Business Diagrams. You can send these slides to your personal contacts who might be interested in Business Diagrams. For further information about our service please contact us: [email_address] Please find our membership offer on http:// www.drawpack.com
Editor's Notes
- Source: Marketing Management, Kotler, 1994