Chapter No # 02

The New Products Process

Evaluation Tasks in the New Product Process
 Phase 2: Concept Generation
In some cases, merely identifying an opportunity pretty well spells out
what is wanted. Most time, however, it’s not clear, so an immense set of
ideation tools has evolved.
Creating new product ideas, usually called product concepts.
The most fruitful ideation involves identifying problems people and
businesses have and suggesting solutions to them.
Product ideas can be get from customers, or employees.
 Phase 3: Concept/Project Evaluation
Before development work can begin on new ideas, they should be
evaluated, screened, and sorted out. This activity, sometimes called
screening or pre-technical evaluation.
Concept testing, Project evaluation, Product description/product
protocol.
 Phase 4: Development
This is the phase during which the item acquires finite form – a tangible
good or a specific sequence of resources and activities that will perform
an intangible service.
Resource Preparation, The Major Body of Effort, Comprehensive
Business Analysis
 Phase 5: Launch
Traditionally, the term launch, or commercialization, has described that
time or that decision where the firm decides to market a product.
Market test, Launch management
 Speeding the Product to Market
One of today’s most discussed management goals in product
development is accelerated product development or speeding the
product to market. When things take too long to get to market. We lose
the competitive race.