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Does making a product prototype really help in launching a new product? why?
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- How does the development stage of the new-product development process involve testing the product inside and outside the firm?Select a product and based on knowledge of the product life cycle, what types of changes will occur to that product as it continues through the product life cycle? How will this affect the marketing of the product?Four (4) reasons for new product failures and how a company can minimize these failures and increase the chance that the product will be successful.
- 1. Why is there a need for new product development? 2. How do you create and test a product prototype? 3. Give three importance of developing a business model.Suppose that you’re on a panel to nominate the “best new products of the year.” What products would you nominate and why? See what you can learn about the new product development process for one of these products.What is the benefits of product development?