Product Development Flashcards
1
Q
What are the stages of product development? (G.A.P.T.A.P)
A
Conduct market Research – asking consumers what they like and do not like to GENERATE IDEAS
Analyse the idea - Costing and Budgets - By establishing all the costs involved in producing and the good to check how viable it is to launch the product.
Produce a Prototype which is a model version of a proposed product
Test the prototype and gain feedback on the prototype from customers.
Alter the product – from problems identified at the testing phase to improve the product
Produce the product – launch the product by Advertising, Setting a Price and setting up a Marketing Strategy to ensure customers are informed and persuaded to buy the product.
