new product proccess from ADV 3362....

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Front (Question)

new product proccess

Back (Answer)

stages a firm goes through to identify business opportunities and convert them to a salable good or service

6 stages:

1. idea generation

2. screening/evaluation (weed out bad ideas)

3. business analysis (figure out marketing strategy) (last check point before no turning back)

4. development

5. market testing (expose to a few perspective buyers. test the waters)

6. commercialization (full scale launch)

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