Title: Describe the process of new product planning.
Course: Marketing Management (12166) > Section: Understanding Product and Service Marketing

Description should include the following seven key steps in new product development:

- Generating ideas
- Screening ideas
- Developing a business proposal
- Developing the product
- Testing the product with consumers
- Introducing the product (commercialization)
- Evaluating customer acceptance

Process/Skill Questions:

- Why is evaluation of customer acceptance an important step in the product planning process?
- Why would a business not test market their product?
- Why is an understanding of the concept of the product life cycle important in the product and/or service planning process?
- What role does technology play in product and/or service planning?