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The different stages a proposed product

Describe the different stages a proposed product will need to go through before it is commercialized.
Where will ideas for the new product come from, and how will you filter the different ideas?
Describe your criteria for selecting an idea to move to the next stage.
Design a flowchart for your proposed new product development process to serve as a guide to your discussion.
Develop a brand strategy for a hybrid car. To come up with a strategy, answer the following questions:
How will it be positioned relative to other plug-in hybrids currently under development or in the marketplace?
How will it be launched in the selected target market?
Describe what activities will be conducted to build the image of the brand.
search for academic articles to complete the following tasks:
Indicate the types of stakeholders involved in the new product development process.
Evaluate the impact of key inputs from stakeholder groups on new product development efforts.
Analyze the role these key stakeholder groups can play in contributing to the success of a new product.
Examine the persuasive strategies that can be used to enfranchise stakeholders in new product development projects.

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Sample Answer

 

 

  1. Idea generation: This is the stage where new product ideas are generated. Ideas can come from a variety of sources, such as customers, employees, or market research.
  2. Idea screening: This is the stage where the most promising ideas are selected for further development. The criteria for selecting an idea to move to the next stage will vary depending on the organization, but some common criteria include the following:
    • The potential market size and growth rate
    • The competitive landscape
    • The technical feasibility of the product

Full Answer Section

 

 

 

  1. Concept development and testing: This is the stage where the product concept is further developed and tested with potential customers. The goal of this stage is to ensure that the product meets the needs of the target market and is technically feasible to produce.
  2. Prototyping: This is the stage where a physical prototype of the product is created. The prototype is used to test the product’s design, functionality, and manufacturability.
  3. Market testing: This is the stage where the product is tested in the marketplace. The goal of this stage is to gather feedback from potential customers and make any necessary changes to the product before it is launched.
  4. Commercialization: This is the stage where the product is launched and made available to consumers.

Here are some possible sources of ideas for a new product:

  • Customers: Customers can provide valuable insights into their needs and wants. You can conduct surveys, interviews, or focus groups to gather customer feedback.
  • Employees: Employees can also be a good source of ideas. They may have insights into the needs of the target market or be aware of new technologies that could be used to develop new products.
  • Market research: Market research can be used to identify trends and unmet needs in the marketplace. This information can be used to develop new product ideas.
  • Competitor analysis: Analyzing your competitors can help you identify opportunities to develop new products that are differentiated from their offerings.

Here are some criteria for selecting an idea to move to the next stage:

  • The potential market size and growth rate: The product should have a large enough market to be profitable.
  • The competitive landscape: The product should have a competitive advantage over existing products.
  • The technical feasibility of the product: The product should be technically feasible to produce within the desired timeframe and budget.
  • The financial viability of the product: The product should be financially viable, meaning that it will generate enough revenue to cover its costs and generate a profit.

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