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PRODUCT - Coggle Diagram
PRODUCT
PRODUCT DEVELOPMENT (PD)
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Lengthy process, can be costly
1.Generating ideas Customers, owners, competitors, staff, R+D teams
2.Analysis: -Discussion between
employees, owners
-Does it fit the strategy/goals
of business
3.Development:-Experiments, simulations,
samples, testing
-Constant feedback/changes
4.Test Marketing: E.g.maufacture 1000bottle ,250 to each customer
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PRODUCT LIFE CYCLE:The level of sales at the different stages through which a
product passes over time
- GROWTH:Steeper line = more growth
Costs will fall, more profit