TOPIC NAME: NEW PRODUCT DEVELOPMENT.pptx

This presentation is describe about the NEW PRODUCT DEVLOPMENT

1. STAGES OF NEW PRODUCT DEVELOPMENT Presented by- Name: GAJENDRA SAMANTA Student Code:BLD20010600 Department: Management (MBA) Course Name: OPERATION MANAGMENT Course Code: MBA203

2. Content Introduction of stages of new product development 8 Stages Importance of the stages of new product development Conclusion

3. Introduction of the stages of new product development: When a company develops a  new product , it is essential for the company to understand its customers, markets, and competitors before developing a product to deliver superior value to customers. For this, the company must carry out a strong new product development process.

4. 8 Stages: Idea Generation Idea Screening Concept development and testing Marketing Strategy Development Business Analysis Product Development Test Marketing Product Launch

5. Importance of the stages of new product development: Allows superior product designs that incorporate user experience and comfort. Guarantees enhanced user satisfaction. Provides a competitive edge to new products enabling a company to stand out. Increases market share through intelligent strategies. Multiplies revenue streams with unique products and their accessories. Cuts down on costs by relaunching older products in new markets.

6. Conclusion New product development is the end-to-end process of creating a product that has never been brought to market—from idea to concept, prototyping, developing, testing, and launch. It involves building a product strategy and roadmap to successfully guide cross-functional teams and stakeholders through the entire process.

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