Session 3. Product Development Process 1.Flow 2.Steps and Process.

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Presentation transcript:

Session 3. Product Development Process 1.Flow 2.Steps and Process

Market Research & Product Development Flow Understanding Clients’ Needs ~ Product Testing Problem Definition Research Plan Conduct Research Develop Concept Costing & Pricing Product Prototype Design Pilot Test Product Review Modify Launch or Rollout

Steps and Process 1.Define the problem after an initial analysis of secondary and internal data. Then, focus market research on the specific issues to be tackled. 2.Develop a qualitative market research plan – with qualitative research techniques (FGD/PRA) 3.Develop a product concept with a costing and pricing analysis

Steps and Process (cont.) 4. Refine the concept into a product prototype through qualitative tools (FGDs) or a quantitative tool (survey) 5. Pilot test at least 6 months. Monitor product performance 6. Review the product after pilot test period. 7. Modify product 8. Product launch or rollout

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