Develop the new product and new package together : This approach helps to optimize the overall performance to optimize the overall performance of the product because it is in a package designed to deliver exactly what is required by the task.
Business analysis : We review the sales, cost, and profit projections to determine whether they satisfy the company’s objectives.
Product development : If the product concepts passes the business test, it moves to R&D and/or engineering to be developed into a physical product.
Market testing : The purpose of market testing is to learn how consumers and dealers react to handling, using, and repurchasing the actual product and how large the market is. In testing consumer products, the company aims to estimate four variables trial, first repeat, and purchase frequency. The major methods of consumer- goods testing are: sales-wave research, simulated store technique, controlled test marketing, test markets, industrial-good market testing.
Commercialization : In commercializing a new product, market entry timing can be critical. The company must also decide whether to launch the new product is a single locality, a region, several regions, the national market, or the international market. The company must target its distribution and promotion to the best prospects groups. Finally, the company must develop an action plan for introducing the new product into the roll-out markets.
At, we strive to deliver the best product strategy available to you.