15. 1. Idea Generation Is the idea worth considering? 2. Idea Screening Is the product idea compatible with the company objectives and strategies? 3. Concept development and testing Can we find a good concept for the product that consumers say they would try? 4. Marketing strategy development Can we find a cost effective, affordable marketing strategy?
16. 7. Market Testing Have product sales met expectations? 8. Commercialization Are product sales meeting expectations? 6. Product Development Have we developed a commercially sound product? 5. Business Analysis Will this product meet our profit goal? 9. Resulting product
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