New Product Development, strategy and management

Introduction

The Product Development is a process of strategy, organization, concept generation, product and marketing plan creation and evaluation, and commercialization of a product

Important aspects to know about Product development includes

Product Management

Product Strategy

New Product Development

New product Development

Product development, also called new product management, is a series of steps that includes the conceptualization, design, development and marketing of newly created or newly rebranded goods or services

new product development process are:

opportunity identification and selection

concept generation

concept evaluation

development and

product launching.

Product Strategy

A typical product strategy consists of 4 parts: vision, goals, metrics and actionable plan

SWOT analysis

Research your target market

online advertising campaigns

competitors Analysis

achieving defined objectives and goals

Customer insight

Structure of current product/brand offerings

Product Management

Ideation

Market Analysis

Competitive Analysis

Preparation Of VOC Plan

Product Positioning & Strategy

Product Line Road Maps

Product Forecasting

Promote Product

Manage Product Life cycle