1. Please describe global product development process 2. How to plan a promotional campaign?

1. Please describe global product development process

2. How to plan a promotional campaign?

Solutions

Expert Solution

The global product development process is as follows:

1. Idea generation:

Initially a pool of ideas is created and each idea is evaluated on the basic of its feasability and payoff that it generates. For this various procedures such as SWOT Analysis, brainstorming sessions etc.

2. Idea Screening

The best idea is filtered out according to the demand, market conditions, affordability and ROI that the project will generate.

3. Concept Development and Testing

The concept is developed with continuous trial and run and a lot of research is done.

4. Business Strategy Analysis and Development

The way in which the product would be launched in the market is decided and a business strategy is formulated regarding the warehouse, supplies as well.

5. Product Development

The product is developed and a pilot run of the project is created to be tested in the market.

6.Test Marketing

The product is marketed in all the geographical domains and in all the diversities. This helps test the robustness of the profuct.

7. Commercialisation

This stage the Marketing mix is decided like how the product would be priced, placed, promoted, any changes in the product must be incorporated in this stage.

8. Introduction in marketing

The product is introduced in the market for purchase.

jeff jeffy answered 1 year ago

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