Product planning and developing, management homework help

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zunyy74

Business Finance

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The is chapter has a great analysis of implementing the product planning and developing process The four stages in the process serve as a mechanism to cover all parameters when innovating a new product or service. If followed, an individual will know between the idea and concept stage if the product/service will be successful. For example I am in the process of opening a juice bar in my area. Right now I am developing the idea, based upon my research of similar shops around me, in order to see the need and differ my products from my competition. Then I will develop the concept with providing different types of juices and smoothies (coming up with the names and ingredients for each). Then I will make sample products for evaluation and testing the market. Using the Product planning and development process, provide an example of developing a new product/service.

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