Create another power-point presentation 10 slides, with 200-250 speaker notes per slide! These are the areas we need to cover in the presentation. Idea generation Idea screening Developing the Brand Strategy

Development of brand strategy

Preface

The stages of new product development include idea generation, idea screening, concept development and testing, marketing strategy development, business analysis, product development, test marketing and commercialization.

idea generation

At this stage, the product is mostly just a concept. When generating ideas, product ideas are sought from various sources. Some of these sources include market research, where companies look at the market and access aspects such as changing demands and new trends requiring new products. Another source of ideas is internal sources, where employees can be asked to brainstorm ideas. Another source of ideas is to observe competitors and identify their products, weaknesses and market gaps. Additionally, companies can conduct a SWOT analysis, which enables them to understand their opportunities, weaknesses, strengths, and threats and come up with a viable idea for a product. at last,