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fiasKO [112]
2 years ago
14

The New Product Development Process begins with the _____________, fill in the blank, stage and culminates with the ____________

_, fill in the blank, phase.
Business
1 answer:
levacccp [35]2 years ago
6 0

The new product development begins with the idea generation.

<u>Explanation:</u>

The five basic stages of new product development (NPD) are as follows,

  • Idea generation: This is the first and foremost process of NPD. It is systematic search for new ideas from internal and external sources.
  • Idea screening: Filtering the best ideas from all the selected ones.
  • Concept development: Developing the reliable concepts with the help of SWOT analysis.
  • Marketing strategy development: Description of the target market, outline of the product’s planned price and planned long-term sales
  • Business analysis: Review of the sales, R&D, operations and efficiency ratio measure.
  • Product development: Developing a successful prototype
  • Test marketing: The proposed marketing program and the developed product is released in the realistic market.
  • Commercialisation: Introducing the developed product finally and permanently into market.
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4 0
3 years ago
What are some reasons why the budget deficit and non budgeted spending have been adding more than $500 billion to the national d
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She pays the inheritance tax , while the estate is responsible for the estate tax.

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