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HOW TO MANAGE NEW PRODUCT DEVELOPMENT PROCESS
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Stages of Development Process
Idea
Strategy Concept
Commercializatio
n
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If I would asked people what they wanted, they would have said a faster horse
- Henry Ford
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Management Development Process : Concept to Strategy
Concept Development and Testing
Marketing Strategy Development
Business Analysis
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Concept Development and Testing
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Different Stages of Concept Development
Conjoint Analysis
Concept Testing
Concept Development
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Marketing Strategy Development
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Preliminary Stages of Strategy Plan
I. Target market size, structure & behavior;
Planned product positioning;
Sales, market share & profit goal in first five years
II. Planned price, distribution strategy and marketing budget for first year
III. Long run sales and profit goals & marketing mix strategy over time
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Business Analysis
Estimating Total Sales
Estimating Costs and Profits
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Management Development Process : Commercialization
Product Development Market Testing Commercializatio
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Physical Prototype
Customer Test
Product Development
Product Development
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Market testing
Consumer goods
Sales wave research
Simulated test
marketing
Controlled test
marketingTest markets
Business goods
Market Testing
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When? Where?
To whom? How?
Commercialization
Commercialization
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Created By:
Rohit Kumar Mittal IIT (BHU), Varanasi
During an internship by:
Prof. Sameer Mathur IIM Lucknow