The document outlines the new product development process which includes 8 stages: 1) idea generation, 2) idea screening, 3) concept development and testing, 4) marketing strategy development, 5) business analysis, 6) product development, 7) test marketing, and 8) commercialization. It then discusses test marketing in more detail, noting that it provides experience testing the product and marketing program before full introduction. Factors that influence whether a company test markets are also reviewed.