Marketing Essay Example | Topics and Well Written Essays - 250 words - 12

Marketing - Essay ExampleHere all the unattractive ideas and unfeasible ideas be weeded out passing only the ideas where future action is possible. Concept Development and bear witnessing Here in this stage the idea is presented to the customers and their views and opinions of the ideas are documented. This eliminates the risk of any losses if the ideas are not accepted by the customers (Kahn). Business Analysis This stage involves the business and financial digest of the ideas and here the financial risks and the other business related analysis are completed. Prototype Development Here the idea is developed and the product is developed in the physical form and the basic merchandise strategy is developed. Test Marketing At this stage the company puts the product up for sale in a few areas to check for the performance under the marketing plan (Jobber). This provides an insight to the company for the effectiveness of the marketing strategy and the demand of the product. Commercia lization The last stage of the new product development stage is the commercialization, where the complete marketing plan is developed and the full production is set into action