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Task 4: New Product Development Process: (10 Marks)

This document outlines the key stages in new product development: 1) Idea generation and screening to identify viable product ideas; 2) Concept development to further refine ideas and develop product concepts; 3) Business analysis and market strategy development to evaluate commercial potential; 4) Product development to design and engineer the product; 5) Market testing to validate the product-market fit; and 6) Commercialization to launch the product. For each stage, the document asks for an explanation of activities, tasks, tools, and strategies used.

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Iamzura Abdullah
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76 views1 page

Task 4: New Product Development Process: (10 Marks)

This document outlines the key stages in new product development: 1) Idea generation and screening to identify viable product ideas; 2) Concept development to further refine ideas and develop product concepts; 3) Business analysis and market strategy development to evaluate commercial potential; 4) Product development to design and engineer the product; 5) Market testing to validate the product-market fit; and 6) Commercialization to launch the product. For each stage, the document asks for an explanation of activities, tasks, tools, and strategies used.

Uploaded by

Iamzura Abdullah
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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GLOBAL INSTITUTE OF STUDIES

DIPLOMA OF MECHANICAL ENGINEERING


DME 3802
INDUSTRIAL ENGINEERING

Task 4: New Product Development


Process
(10 marks)

Idea Idea Concept Market strategy


generation screening development development

Business Product Market


Commercialization
analysis development testing

For each of the product development stages mentioned above, provide an


explanation on what happens on each stage, what are the activities or tasks
that should be should be done during the stages, and any tools and
strategies that need to be implemented in each stages if any. You may relate
your explanation with one or several examples of product.

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