Session 3. Session 3. Product Development ProcessProduct Development Process

1. Flow2. Steps and Process

Market Research & Product Development FlowMarket Research & Product Development Flow Understanding Clients’ NeedsUnderstanding Clients’ Needs ~ ~ Product TestingProduct Testing

Problem Definition Research Plan

Conduct

Research Develop Concept

Costing & Pricing

Product Prototype

DesignPilot Test

Product Review

Modify

Launch or Rollout

Steps and ProcessSteps and Process

1. Define the problem after an initial analysis of secondary and internal data. Then, focus market research on the specific issues to be tackled.

2. Develop a qualitative market research plan – with qualitative research techniques (FGD/PRA)

3. Develop a product concept with a costing and pricing analysis

Steps and Process (cont.)Steps and Process (cont.)

4. Refine the concept into a product prototype through qualitative tools (FGDs) or a quantitative tool (survey)

5. Pilot test at least 6 months. Monitor product performance

6. Review the product after pilot test period.

7. Modify product

8. Product launch or rollout