New Product Development
You are working in the product development department of a company that creates household products. Your team has come up with an idea for a revolutionary new cleaning product. Using the seven phases of new product development as a guide, describe how your company will develop the new product.© SolutionLibrary Inc. solutionlibary.com 9836dcf9d7 https://solutionlibrary.com/business/marketing/new-product-development-7e4b
...ing the product and production and marketing teams who can produce the product and make it attractive to consumers.
Step Three: Concept Testing
In this step we will present our idea for our product to small focus groups of potential consumers, distributors, and staff. No actual product will be required but we may wish to develop a mock advertising campaign or storyboards to showcase the product to the focus groups in the most tangible manner possible.
During the focus groups we want to determine:
-Do they like the product idea?
-Would they be interested in buying such a product?
-How often might they purchase such a product?
-How much would they be willing to pay for the product?
-Do they have any concerns regarding the use or purchase of such a product?
The results of these focus groups will tell us if consumers are interested in purchasing the product and if our distributors and sales teams will be interested ...