In order to achieve a successful new product, and certainly the successful implementation of a new product into a business, it is necessary for managers of organizations to understand the basic idea of new-product development process, therefore providing a clear roadmap for the development of new products. Discuss what is new product development strategy? Name and discuss, with examples, any seven major steps in the new-product development process. 

Seven steps include: Idea generation, idea screening, concept development and testing, marketing strategy development, business analysis, product development and test marketing.

Answer rating: 100% (QA)

1 Idea Generation This is the first step in the newproduct development process where potential new product ideas are generated This can come from vari... View the full answer