Question: In exhibit 11.1, New-Product Developing Process, you can see that there are 7 steps to developing new products. Why is it so important to develop

In exhibit 11.1, New-Product Developing Process, you can see that there are 7 steps to developing new products. Why is it so important to develop new products and can you explain the 6 categories of new products? what is the latest product or gadget that has changed or added value to your life and you cant believe you have gone without it for so long?

In exhibit 11.1, New-Product Developing Process,

12 Exhibit 11.1 New-Product Development Process 1 New-product strategy 2 Idea generation 3 Idea screening 4 Business analysis Development 6 Test marketing Commercialization

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