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Published byGrant Grant Modified over 9 years ago
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Session 3. Product Development Process 1.Flow 2.Steps and Process
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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
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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
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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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