Stages of New Product Development Process Idea for New Product Development Assignment Help: The idea for a new product is related to health-care that constitutes some specific nutritional composition and controlling some specific diseases of a human being. The feature of this product is used in body growth, immune development and protection from obesity through one product for both men and women.

 

 

Stages of New Product Development Pro cess: For development of new health-care product, there are seven stages of development process that would enhance this product into a potential product in the competitive market. The stages are described by our Ph.D. business assignment help experts:

 

Idea Generation: The idea generation for new health-care product comes from increasing extra nutritional demand for body growth of people because the regular common food supplement are not fulfilling the daily nutritional requirement of people. In this context, people will purchase a nutritional product to fulfill their daily required supplement. Further, people will also purchase another product for immune development to eliminate common diseases such as a cough, cold and flu. Further, obesity is also a problem that is concerned with people health and for controlling the obesity people will purchase some other product by spending some extra money.

 

Idea Screening: This health care product idea is unique due to some health related problems such as body growth, immune development and obesity control that can be fulfilled by this new innovative product. People purchases separate products for body growth, immune development and obesity control that are usually very expensive for them. Further, the size and growth of this product is also beneficial because there a big market is available for the health-care product around the world. Moreover, this product will be profitable when manufactured and delivered to the customer at the target price in comparison of seperate healthcare products for body growth, immune development and obesity control.

 

Concept Development and Testing: The concept development of this health care product is right because this type product has not developed earlier and also has not any patent of this type of product. Further, body growth, immune development and obesity control features must be incorporated into products to target health-conscious people that are not satisfied with daily food supplement for body growth. Moreover, packaging of this product in one packet would reduce the production cost in comparison to separate product packaging of health products and that would also attract consumer through specific features in one packet. Further, for testing the concept, quantitative method would be useful through field surveys and personal interviews of consumers that use health products and what they think about the new product development idea.

 

Business Analysis: The business analysis for this product would be based on competitors’ separate products and their sales price as well as with the customers’ feedback through surveys and personal interviews that what consumers want for health products and price of the product. Further, business analysis would also focus on sales volume of other healthcare products separately and market size from secondary data sources on annual basis. The analysis would also be based on other company’s profitability and break-even point through secondary data sources in the similar product field.

 

Beta Testing and Market Testing: At this stage, a small volume sample of this product would be launched in the market with money back guarantee within given period of time at a convenient price to consumers. Further, the product quality would also be tested within given expiry date from manufacturing date and its packaging quality for product safety in adverse situation such as moisture and sunlight. Some quantity of the product would be also distributed among a specific group of customer free of cost and to obtain their feedback in given time to know the results.

 

Technical Implementation: After the positive feed-back assurance of beta test and market test, technical implementation required to launch the product in the market in huge quantity. At this stage, the technical implementation such as medication administration system, quality management system, resource estimation, logistics plan, supplier collaboration, department scheduling and program review and monitoring would be initiated in launching the product in the market.

 

Commercialization of the Product: Launching the product in the market, advertisement of the product required to enhance consumer awareness about this health care product and its benefits. The medium of advertisement such as television, newspaper, internet and hoardings at roadside would be an effective way that can be used for increasing awareness of customers. Further, in promotional activities, several techniques can be used such as free gifts with the product, extra volume of the product at a same price or decreasing some price. Further, critical path analysis can also be used for saving the time and delivering cost in distribution system.

 

Summary: On the basis of above discussion by assignment help experts, it can be concluded that all stages of product development process are helpful to enhance knowledge and strategy to develop a new product. we also provide case study assignment help related to company new product development.

 

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