Week 8 - Product Planning

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Product Development Stages and Marketing

According to the YouTube video Product Development Stages there are eight stages in product development. Idea generation, idea screening, concept development, market strategy, feasibility analysis/study, product design, test marketing and market entry. 



The main area for marketing is during that market strategy phase where you must determine the target market, or who specifically you are trying to sell to. 

Also during the test marketing phase, part of that target market is usually used to test acceptance of the product and if it should go out to the rest of the market.

Ultimately when developing a product, marketing is trying to gauge the target audience and market to them effectively so that when the product enters its life cycle in phase eight, it will continue to have a long and profitable life.

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