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    MD Zaid Kamran is presenting on the topic of new product development for group 13. The subtopics are concept testing and marketing strategy development, which are stages of product development. Concept testing involves asking customers questions about product concepts through methods like surveys and questionnaires before launch to get feedback on whether consumers would purchase it and what changes are needed. Marketing strategy development involves market research, product positioning in the market, understanding competitors, and using the 4Ps of marketing - product, price, place, promotion. It aims to make the product specific to consumers and attractive to target audiences.

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    New product development

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    MD Zaid Kamran is presenting on the topic of new product development for group 13. The subtopics are concept testing and marketing strategy development, which are stages of product development. Concept testing involves asking customers questions about product concepts through methods like surveys and questionnaires before launch to get feedback on whether consumers would purchase it and what changes are needed. Marketing strategy development involves market research, product positioning in the market, understanding competitors, and using the 4Ps of marketing - product, price, place, promotion. It aims to make the product specific to consumers and attractive to target audiences.

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    © All Rights Reserved
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    3 views3 pages

    New Product Development

    Uploaded by

    md.zaidkamrangaya
    MD Zaid Kamran is presenting on the topic of new product development for group 13. The subtopics are concept testing and marketing strategy development, which are stages of product development. Concept testing involves asking customers questions about product concepts through methods like surveys and questionnaires before launch to get feedback on whether consumers would purchase it and what changes are needed. Marketing strategy development involves market research, product positioning in the market, understanding competitors, and using the 4Ps of marketing - product, price, place, promotion. It aims to make the product specific to consumers and attractive to target audiences.

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    © All Rights Reserved
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    of 3

    ● Name-MD ZAID KAMRAN.

    ● Roll No-21/3461.
    ● Group-13
    ● Topic-New Product Development.
    ● Sub topic-Concept Testing and Marketing
    Strategy & Development.(Stages of Product
    Development)

    🤔
    #New ProductDevelopment
    ?
    It is a series of steps that includes the conceptualization, design,
    development and marketing of newly created or newly rebranded
    goods or services.
    It may be the Innovation of the product or Invention of New

    Product.There are various stages of New Product Development.


    Concept Testing-
    Concept testing is defined as a research method that involves
    asking customers questions about your concepts and ideas for a
    product or service before actually launching it.Whether
    Consumer will purchase or not.

    It is mainly taking the review of the product.Is it worth buying or


    not. If they are Purchasing What are the qualities and what are the
    changes that need to be done.We are asking the feedback from the
    consumer and it is done by various methods such as Survey,Sampling
    Questionnaire etc.No New or Innovated products directly enter the
    market.Maggi which most common noodles among us was also
    relaunched after being authorized by various authorities such
    Supreme Court,FSSAI and from others also.

    Marketing Strategy &


    Development-
    Once a Concrete concept of Product is finalized next
    Stage is Market the product in market.
    Market Development is a growth Strategy that involves selling your
    existing products or services to a new group of customers.It begins
    with market research where you:
    ● Carry out a segment analysis of your existing market.
    ● Shortlist those market Segments which you feel you
    pursue.
    It includes Product Positioning,,Market Size,Market Share and
    Financial aspects of a product (Profit,Sales Size etc).Also we have to
    Understand Customers,Analyze Market,Startegy of Competitors.
    Marketing 4P’S Product Price,Place,Promotion and also the other
    3P'S People,Process,Physical Evidence
    Here,We need to make the product Consumer specific,Consumer
    attractive,and target particular group of audience.

    Boat when launched targeted a particular group of audience,because


    there were so many competitors Such as JBL ,BOULT ,SONY.
    It had to be done by the officials of Company for Surviving in the
    Competition.They also analyzed the market well and made the product
    consumer specific,and also Attractive.

    THANK YOU

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