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Developing Product (stage NPD (business analysis, product development,…
Developing Product
stage NPD
business analysis
product development
idea screening
test markerting
idea generation
Product Launch
1.New product strategy development
what is new product?
product line extensions
revamped products
new category entries
new to the market products
product live cycle
maturity
decline
growth
introduction
aspect of the product life cycle
low learning product
fad product
high learning product
ethical issues in NPD
FTC's definition of the term new
waiting to develop new product until existing product is obsolete
planned obsolescence
customer adoption
type of adopter
innovators
early adopters
early majority
late majority
laggards
product characteristics
observability
complexity
compatibility
trialability
competitive advantage
type adoption process
trial
adoption
evaluation
interest
awareness
risk in new product development
categorizing risks in new product development
high
moderate
very high
reducing risk in new product development
understand current market trends and anticipating changes in market
asking the right question
making a commitment to the NPD process
being willing to fail on occasion
listening to the customer carefully