Steps in New Product Development
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There are several steps to developing a new product. The first is to assess product profitability, asking why the product is needed. Then one conducts a concept test and a test market. The product can then be developed, starting with pulling together the critical path and producing a brief for the development team. One develops concept samples and a manufacturing specification and puts the product through testing and analysis for shelf life and viability, ensuring that all legal and technical aspects of the product are covered. One performs a factory trial on the product, refines costings, and dev
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Approximate Word count = 407
Approximate Pages = 2 (250 words per page)
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