New product strategy | Identify the strategic business requirements that the new product should satisfy. |
Idea generation | Search for product ideas to meet a strategic objective. |
Screening and evaluation | A quick analysis of ideas made against the criteria that reflect the objective of the organisation. |
Business analysis | A detail analysis of the attractiveness of the ideas in business terms. |
Development | Transition ideas into an actual product for the market. |
Testing | Commercial experiment necessary to verify business judgments. |
Commercialisation | The when, where, to whom and how decisions of the launch. |