Essay on New Product Idea

3470 Words Dec 10th, 2012 14 Pages
Assignment on New Product development
Course Title : Principles of Marketing Course Code : BBA 2107, Sec: D

SUBMITTED TO:

Jannatul Mawa Nupur
(Senior Lecturer )
Faculty of Business
Northern University Bangladesh.

SUBMITTED BY:

Md. Razaul Karim ID: BBA 060101715

Md. Musfiqur Rahman I.D: BBA 080102476

Ayeasha Siddika ID : BBA 060101555

Md. Ariful Islam ID : BBA 080102596

Date of Submission: 11th May, 2009.

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Table of Content

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Idea Generation :
The systematic search for new-product ideas.

Idea screening :
Screening new-product ideas in order to spot good ideas and drop poor ones as soon as possible.

Concept Development &testing :
A detailed version of the new-product idea stated in meaningful consumer terms. Testing new-product concepts with a group of target consumers to find out if the concepts have strong consumer appeal.

Marketing Strategy Development :
Designing an initial marketing strategy for a new product based on the product concept.

Business Analysis:
A review of the sales, costs, and profit projections for a new product to find out whether these factors satisfy the company’s objectives.

Product development:
Developing the product concept into a physical product in order to ensure that the product idea can be turned into a workable product.

Test marketing:
The stage of new-product development in

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