QUESTION THREE $[25]$

There are many ways to introduce a new product in the market, and there's no single way that works

for every business. The organisation can create a detailed and sophisticated new product launch

framework, or it can use a lean start$-$up strategy, investing little and learning as it goes. Whatever

approach is used, it should be consistent with the company's overall mission, direction, and style.

When developing a new product, the organisation needs to go through a number of stages. You have

been appointed as the Marketing Manager at Nike and need to introduce a premium range of apparel.

Explain how you would go about managing the development process. Include each step in your

discussion.