Lesson 20:Annotated Bibliography(1)

(1)

Reference

InnovationExcellence:http://www.innovationexcellence.com/blog/2013/05/27/8-step-process-perfects-new-product-development/

 

Summary

This article explain about 8 steps of product development process.

Step 1 is generating. Utilizing SWOT analyses and learn marketing trends. Step2 is screening the idea. Many ideas stop with here. Decide the idea is continued or dropped. Step 3 is testing the concept. Decide the concept of new product. Step 4 is bisuness analytics. Built a asystem of metrics to monitor progress include input matrics and output metrics. Step 5 is Marketability tests. Step 6 is technicalities and product development. Final check each sections such as production department, marketing department and finance department. Step 7 is commrcialize. Selling a product and looking for problem. Step 8 is Post launch review and perfect pricing. Review the process and look for continues improvements.

 

Reflection

I think this article is very useful. I have interest in product development, but I did not know about that in detail. I learned the process of product development from this article. This knowledge will be basis of my research.

 

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