New Product Development Essay Example | Topics and Well Written Essays - 1000 words - 1

New Product Development - Essay Exampleexample with technological development new types of DVD players are in brain generation act which will play high susceptibility Forward Versatile Disc or FVD of around 6 gigabyte capacity (Grewal, 2008, p. 308). Sometimes too many ideas are generated which needs to be evaluated and then screened which are not very promising one for the company. The Idea screening process of the foremost U.S motorcycle manufacturer, Harley-Davidson is known as The Wall of Fire who screens different ideas to choose the best out of the development opportunities called The Swirl (Karol, Nelson, 2007, p. 118). The ideas which are screened in the idea screening process are forwarded for the concept development and examen of the screened idea. Ideas tush be very beneficial for the company in many cases for which proper testing of the concept is required for its feasibility study. In automobile industry Tata Motors conducted a grocery store research in order to fi nd the gap in the market for its fall in the market share of truck during the year 1998 to 2000. It showed that consumers want a to have a car like vehicle but it can perform like a truck which can carry heavy weights for different purposes (Kumar, 2007, p.29). After concept testing the marketing strategies like the description of the nates market, distribution channels, pricing policy, advertising, marketing mix strategies and profit in long run are evaluated and managed. For example Unisys identified the need of the customers.