New Product Marketing Investigations
Identification of the market niche.
Practical creative exercises, R & D.
Testing the new product concept.
Prototypes (where to get it built).
Role of industrial design firms and other consultants.
Classical market research tools (studies of the 4 P's- product, price, promotion, and place- now, when product enters marketplace, and reaction from competition).
Financing the new venture (private, venture capital, angel capital, licensings, etc.).
Role of intellectual property.
Chances of success.
The need for market watch and re-innovation to meet changing markets and,
Identification of limited product life cycles.
The right management team and human resources.
importance, details, and value of the business plan.