Best ways to manage the new-product developement process
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Transcript of Best ways to manage the new-product developement process
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-Divyanshu Pal Nagar, IITK
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3.What is the best way to manage the new-product development process ?
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Many top companies use the stage-gate system to divide the innovation Process in stages with a gate or Checkpoint at the end of each
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The stages of new-product development process are actually various check-points
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1. Idea generation
Is idea worth considering ?
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2. Idea screening
Is the product idea compatible withCompany objectives, strategy and resources ?
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3. Contest development and testing
Can we find a good concept consumers say they would try ?
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4. Marketing strategy development
Can we find a cost effective, affordable marketing strategy ?
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5. Business analysis
Will this product meet our profit goal ?
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6. Product development
Have we got a technically And commercially sound project ?
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7. Market testing
Have product sales met expectations ?
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8. Commercialization
Are product sales meeting expectations ?