Product development process

I need one page about (product devilment proses)

Step1-Quantify Business opportunity

Step2-Develop the concept

Step3-Product development

Step4-Market assessment

Step5-Creative development

Step6-Marketing plan

Step7-Launch

……………….Answer Preview………………

Product development can be defined as the company’s conversion of ideas into goods or services. There are several processes involved in project management. They include:

Quantifying business opportunity

The firm identifies the need of customers in the market and analyzes them as opportunities. It analysis the cost it will incur in producing these goods and the profits it will gain. It also analyses the technology needed to come up with the new products or services.

Developing the concept

The firm then looks at the new products and looks at various ways……………..

APA

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