Development process/Implementation plan
Product Development Process
Product Development Process
New Product Development Process (NPD) Stages
First, the new product development (NPD) process begins with generating an idea. This process was accomplished when the group brainstormed various ideas for an innovative product. Organizations can use the internal and external idea sources to recognize a product need. Internal ideas can be generated from Research and Development (R&D) and also from organizational members. External idea sources are generated from distributors, suppliers, and competitors. The customers are the most important external source because the NPD process is designed to focus on building customer value. The second step in the NPD process is idea screening which involves the group evaluating each innovative idea. The group selected the Solar-powered charger as the innovative product to be implemented (Claessens, 2015).
In addition, the third step in the NPD process is concept development and testing of the Solar-powered charger. The product concept is a descriptive version of the new product idea and defines how it will benefit the customer. Some possible product concepts that can be used for the Solar-powered charger are making the product affordable for all consumers to be used while traveling on-the-go. The product should be eco-friendly, durable, and convenient. The Solar-powered charger will help to save energy and be more efficient for customer use. The product should be tested using a small group of target customers to determine how they view the value of the product. Customers will provide feedback on the product through surveys, questions, or an online website.
Furthermore, the fourth step is to introduce the product into the market using the marketing mix which is product, price, place, and promotion. The product is the Solar-powered charger which will target consumers of all ages and individuals who are always traveling and need a reliable source to charge their mobile devices. This product will be cost-efficient and can be found in local convenience stores such as Wal-Mart, Target, and other electronic stores along with being available via an online website. The promotion of the product could be placing advertisements on television, in magazines, on billboards, or simply through word-of-mouth.
Additionally, the fifth step is to measure the business attractiveness of the Solar-powered charger. There will be a review of sales, costs, and profit projections to determine whether the organizational goals are being met with the product. The product meets the set objectives so it can be moved to the sixth step which is the product development stage (Claessens, 2015). Once the Solar-powered charger passes the business test, it is time to create a physical product that can be tested for safety and effectiveness. Customers can test the product and provide valuable feedback to determine if the product is a worthwhile investment.
The seventh step is test marketing where the Solar-powered charger can undergo test marketing before it is officially introduced to the public. This step allows the organization to test the product using the marketing mix before making a decision to fully invest in the product. The final step is for the organization to launch the Solar-powered charger. This process is called commercialization which simply means introducing the product into the market. Some factors to consider before the product is commercialized are when and where to launch. The main focus of the NPD process is building excellent customer value. Once this is accomplished the Solar-powered charger can be successful within the market (Claessens, 2015).
References
Claessens, M. (2015). The new product development process (NPD) – Obtain new products. Principles of Marketing explained: Marketing-Insider, 1-4. Retrieved from https://
marketing-insider.eu/new-product-development-process/
