Organizations often utilize an eight-step process for the conception, evaluation, and introduction of new products and services. Many different departments from throughout the organization (and often experts from outside the organization) are involved in this process. New ideas are how new products and services are born, and each step is critical to the entire process.

There are 8 Stages of the product development process:

Idea generation

Idea screening

Content development and testing

Development of marketing strategy

Business analysis

Product development

Test marketing

Commercialization

In a 35-pages answer the following questions:

What types of research or background materials would you gather to share with the team (e.g., market research on the industry, competitors, and customer trends)?

What goals would you identify to determine your teams success?

Select 1 of the eight stages of the new product development process. What would you do to manage that step?