Assignment on Supplementary assessment of New Product Development

Supplementary assessment of
New Product Development
Course: Marketing (MKT600)
Submitted by: Payal Kapoor
A00022356
09/09/2022
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Executive summary:
This report is on a new product development following the 8-step new product
development decision process. Where we are showing a new product called
Chillers. As it is completely new, so we have to follow the decision process
accordingly to bring out the best outcome and plan for the success of the
product. We show the reason for choosing this product and all other costs and
features of the product with our targeted market, business analysis, and product
development phase.
Finally, in the commercialization, we bring up the product and spread it all
around the country to
selected vendors and shops.
Table of Contents
Contents
Introduction.......................
..........................................
..........................................
.................................... 1
New Product
Development.....................
..........................................
..........................................
...............1
2

Generation Of New
Ideas..................................
..........................................
..........................................
.... 2
Screening of The
Ideas..................................
..........................................
..........................................
........3
Concept Development and
Testing...............................
..........................................
..................................5
Marketing strategy
development......................
..........................................
3

..........................................
....6
Business
Analysis.............................
..........................................
..........................................
......................7
Product
Development.....................
..........................................
..........................................
.......................8
Market
testing...............................
..........................................
..........................................
.........................9
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