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Steps of Developing a New
Product
Name
Institution/Affiliation
Different
steps can be adopted in coming up with a new product. First is idea generation.
Idea generation is important in order to identify customer’s need. This step is
also important because it gives customers and employees a chance to give their
suggestions and air their views. With this step also, the company developing a
new product thinks through the suggestions given for the product. Second is
idea screening, this process is done by studying the idea carefully in order to
know whether to embrace or reject. It helps to know if it is necessary to
develop the new product or not.it also help understand if the existing facility
has the capacity to produce a new product or not. If the elements considered
are positive then the new product will be introduce. Third is concept testing,
this stage is where it is identified if customers understand the product or
not. Again it is identified if the customers need the product and if they need,
are they willing to accept the product
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