Essay on New Product Idea
Course Title : Principles of Marketing Course Code : BBA 2107, Sec: D
Jannatul Mawa Nupur
(Senior Lecturer )
Faculty of Business
Northern University Bangladesh.
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.
Table of Content
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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.
A review of the sales, costs, and profit projections for a new product to find out whether these factors satisfy the company’s objectives.
Developing the product concept into a physical product in order to ensure that the product idea can be turned into a workable product.
The stage of new-product development in