Product Development is the total process that takes a service or a product from conception to market. It includes a series of steps like Conceptualization, design, development, etc.
That company may offer to the market
Elaborative way to express an idea in meaningful consumer terms
Picture that consumer acquire of the product
Children, old aged, working
Tasty, nutritious, energy
Dinner, breakfast, lunch
Are the benefits are clear and believable, if score is low then product needs to revised
Do you see this product is solving problem or filling Gap. Higher the need higher the interest
Do other products provides you this and satisfying enough. Higher the gap higher the chances
Do the price is reasonable equal to value. Higher the perceived value higher the interest
“Marketing is what you do when your product is no good,” says Edwin Land, American scientist, and inventor.
Every employee has an idea, so listen closely. Sometimes the biggest marketing innovations come from unexpected team members.
For all you know, one or more of your competitors may have already hit on your idea, or seen the gap and proposed some viable solution. Check their website and PR to make sure you’re the “king of the castle” and not colliding with someone else. It’s ok if someone else has picked up the same need; you may be offering a different solution–one that may even be more effective. The important thing is to make sure your product solution is unique.
Estimate likely the selling price based on the competition and customer feedback
Sending free samples and then giving them benefits like cost less
Giving Demos, Free 1 month subscription, Giving extra things
Advertisements, Promotions
Launching product at small level
Clearly give a statement according to the customer’s point of view which informs the benefits about the product