Developing New Products And Managing the Product Life-Cycle


New-Product Development Process



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New-Product Development Process

  • Copyright 2011, Pearson Education Inc. Publishing as Prentice-Hall
  • 8 -
  • Testing marketing:
    • Product and marketing program are introduced in a more realistic market setting.
    • Not needed for all products.
    • Can be expensive and time consuming, but better than making a major marketing mistake.

New-Product Development Process

  • Copyright 2011, Pearson Education Inc. Publishing as Prentice-Hall
  • 8 -
  • Commercialization:
    • Must decide on timing (i.e., when to introduce the product).
    • Must decide on where to introduce the product (e.g., single location, state, region, nationally, internationally).
    • Must develop a market rollout plan.

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