New Product Development

The first part we would do it the idea generation phase and figure out exactly what product would be the most beneficial for our customers. By doing this it improves the chances of the product selling well. Then we would do the product concept and development phase. By doing this we can see how to actually make the product and decide how well it would sell if we made it. We need to decide if this all natural household cleaner will sell better than the other ones out there.

The next step is to do marketing strategy and develop a marketing plan ahead of time for the cleaner to see how much it would cost to do promotion and distributing, and also to make sure we have a good plan for it.

Then we will do a business analysis for the cleaner. We will see how profitable this product can be for our company and what we will have to do in order to make the product successful. We will also see what the demand for all natural cleaner is in the market today.

After that we will do the technical development phase and actually design the cleaner, plus the marketing and manufacturing process. When this is done we will then go and test market the cleaner in the actual market. By doing this we can see how the marketing strategy is working and if the cleaner will sell like we believe it will. We can tweak the plan as to people’s reactions at this phase. Once we have done this, we will start the commercialization phase which is implementing our entire market plan to everyone so they can see how good the cleaner is and go out and buy it.

References:

Solomon, M. R., Marshall, G. W., & Stuart, E. W. (2008). Marketing: Real People,Real Choices (5th ed.). Upper Saddle River, NJ: Pearson