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Analysis of the Seven Stages of New Product Development

You are working in the product development department of a company that creates household products. Your team has come up with an idea for a revolutionary new cleaning product. Using the seven phases of new product development as a guide, describe how your company will develop the new product.

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Step One: Idea Generation
In this step our company is looking for new product ideas that will help us expand out presence in the marketplace. In this case the scenario states that we have come up with an idea for a revolutionary cleaning product, thus drawing this stage to a close for this product. In most organizations idea generation is an ongoing process and thus it is likely that we will continue to engage in a number of market research techniques such as consumer focus groups, competitor product analysis and staff brainstorming sessions.

Step Two: Screening
In this step our managers and key personnel will critically evaluate the product to determine if the company has the expertise and resources available to develop, produce and market the product. In this case this step is likely to be completed successfully if we already develop other household cleaning products. We should already posses research teams capable of ...

Solution Summary

Analysis of each of the seven stages of new product development from the perspective of a company preparing to launch a specific new product.