Understanding New Product Development

What is the first stage in the New Product Development (NPD) model?

• Idea Screening

• Idea Generation

• Business Analysis

• Market Testing

During which stage are ideas evaluated and filtered?

• Concept Development and Testing

• Commercialisation

• Idea Screening

• Product Development

What is the purpose of Concept Development and Testing?

• To generate new ideas

• To test the product in the market

• To develop detailed concepts and gather feedback

• To conduct a financial analysis

Which stage involves assessing the financial, market, and operational viability of the concepts?

• Business Analysis

• Idea Generation

• Market Testing

• Product Development

In which stage is a prototype or product developed with a focus on design and functionality?

• Idea Screening

• Product Development

• Commercialisation

• Concept Development and Testing

What is the main goal of Market Testing?

• To generate new ideas

• To assess product reception and gather real-world data

• To develop a prototype

• To conduct a business analysis

What happens during the Commercialisation stage?

• Ideas are generated

• The product is brought to market

• Concepts are tested

• Financial analysis is conducted

Which company is mentioned as an example of following a systematic product development process?

• Samsung

• Microsoft

• Apple Inc.

• Google

What is the main activity in the Idea Generation stage?

• Testing the product in a market

• Developing a prototype

• Brainstorming and research

• Conducting a business analysis

Which stage involves testing the product with a small audience to gather feedback?

• Idea Screening

• Concept Development and Testing

• Market Testing

• Commercialisation