Page 34 - PRODUCT

DISCUSSION
DISCUSSION

CORNER
CORNER

1. Explain how the idea to produce instant scarf rise through the stages of

new product development

ANSWER:
ANSWER:

1. Idea Generation- Company need to come out with as many as
possible potential idea

2. Idea Screening- Screen for the best idea which consider it's
potential to full fill the need and want, thus solve the problem of

customer.
3. Concept Development and Testing- Create the details about the

idea. Explain the material of the scarf, possible size, cutting and
colour. Invite a few respondent to give feedback about the product

concept.
4. Marketing Strategy Development- Plan an initial 4P's strategy for

the upcoming instant scarf. Set the price, distribution and promotion
strategy for short term and long term.

5. Business Analysis- Review the projection of cost, sales and profit

for the instant scarf. Find out the chances for company to gain profit
at certain cost and sales volume

6. Product Development- Develop the prototypes of instant scarf
based on product concept

7. Market Testing- Bring out the initial version of instant scarf into the
market to get the customer feedback

8. Commercialization- Introduce the instant scarf to the market after
company has a positive result during market testing