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Concept development and testing

IP3

The board has called a meeting to see how the new product for MM is coming along. Michelle calls you about the meeting.

“I like your ideas for branding the product,” she says. “I think the board wants an overview now of the whole process we are using for developing the new product. Can you do that?”

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“Thanks for the comments about the branding strategy,” you say. “I tried to be creative with my approach. I’d be glad to show the board the process we are using to develop the new product.”

“Great,” she says. “Why don’t you do what you did last time? The 10–15 slides that you presented worked well in the 30-minute time slot.”

“In the past I’ve done similar presentations and have a format that really works. The board has been very receptive to the flow of the information and I think it will work for us for this presentation too,” she adds. “I’ll instant message the information to you after our meeting. The flow might work for you also.”

“Great,” you respond. “I’ll get started on this first thing in the morning.”

When you get back to your office, the instant message from Michelle is on your screen. It reads:
These are the areas we need to cover in the presentation. 

  • Idea generation
  • Idea screening
  • Concept development and      testing
  • Marketing strategy      development
  • Business analysis
  • Product development
  • Test marketing
  • Commercialization

Be sure to include the information from our discussions on branding as part of the marketing strategy development phase of the process.

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