Business Assignment

Running Head NEW PRODUCT DEVELOPMENT

Name of student

Institution

Tutor

Date of Submission

Question one

Cost of each stage

ideal screening stage 32 CH 1000 32 ,000

concept testing stage 8 CH 10 ,000 80 ,000

product development stage 4 CH 100 ,000 400 ,000

test marketing stage 2 CH 250 ,000 500 ,000

national launch stage 1 CH 2 ,500 ,000 2 , 500 ,000

Question two

Concept testing stage

Pass rate 1 in 2

No . of ideas 8 Question three Question four -stage one

(32ch4 8 successful products

br Cost of successful products 8 ,000

Average cost of a successful product 4000

-stage two (8ch2 4 successful products 40 ,000

Average 20 ,000

-stage three (4ch2 2 successful products 200 ,000

Average 200 ,000

-stage four (2ch2 1 successful

Cost 250 , 000

Average 250 , 000

Stage five - 1 product 2 ,500 ,000 Question five

Importance of developing new products

Companies need to design and develop a new range of products it offers to the market in to ensure that the company continues to thrive to high horizons in the business field . In to stay ahead or keep up with the prevailing levels of competition , a business entity needs...