Stages in the product development process

Stages in the product development

(1) Apple claims to never do any marketing research for new product ideas but instead creates products that Apple employees themselves would be excited to have. What are the risks of this approach? Would it work for all consumer and organizational markets? (2) Consumers and government regulators sometimes complain about identical products being sold at different prices to different customers as part of test marketing efforts. Are such tests ethical? Why or why not?

(1) What currently unavailable service can you think of that could be offered on mobile phones? (2) In addition to the mobile phone itself, what other product elements (such as a website or phone accessories) would be required to launch such a service?

The first two stages of product development involve generating and screening ideas to isolate those with the most potential. In the third stage, promising ideas are analyzed to determine their likely profitability. Those that appear worthwhile enter the fourth stage, the prototype development stage, in which a limited number of the products are created. In the fifth stage, the product is test marketed to determine buyer response. Products that survive the testing process are then commercialized, the final stage.

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