New Product Development
New Product Development or NPD is the term used to describe the complete process of bringing a new product or service to the market.
The New Product Development Process Involves
- Idea Generation
- Idea Screening
- Concept Development & Testing
- Business Analysis
- Beta Testing
- Technical Implementation
- Commercialization
Idea Generation:
This Involves SWOT Analysis, SWOT stands for
S - Strength
W - Weakness
O - Opportunitie
T - Threat
Concept Development &Testing:
In this stage, Marketing and Engineering details needs to be developed.
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