New Product Development The small business environment today is very dynamic and competitive, and new product development is a crucial process if you want to survive. For small enterprises to withstand competition from multinationals, they have to continuously update their products to conform to current trends. The new product development process is the cycle that a new product has to undergo from conceptualization to the final introduction into the market.Phase One: Idea GenerationPhase Two: ScreeningPhase Three: Concept DevelopmentPhase Four: Product DevelopmentPhase Five: Commercialization and Rollout

New Product Development 

The small business environment today is very dynamic and competitive, and new product development is a crucial process if you want to survive. For small enterprises to withstand competition from multinationals, they have to continuously update their products to conform to current trends. The new product development process is the cycle that a new product has to undergo from conceptualization to the final introduction into the market.

Phase One: Idea Generation
Phase Two: Screening
Phase Three: Concept Development
Phase Four: Product Development
Phase Five: Commercialization and Rollout

https://www.kickstarter.com/

Example: It's a bag!

https://www.indiegogo.com/

Indiegogo/Kickstarter Assignment ( individually or in pairs) Presentation project

1.Choose and describe your product. Include a photo of your product.

2.What problem is your product solving?

3. Who do you think is your target market?

4. List the positives of the product and explain why you think it would be successful.