reasearch and development

• Idea Generation: This stage involves brainstorming and gathering ideas for new product concepts. Ideas can come from various sources, such as customer feedback, market research, internal teams, or technological advancement
• Idea Screening: In this stage, potential ideas are evaluated and screened to determine their feasibility. Ideas that do not meet the criteria or have low market potential are eliminated to focus on the most promising concepts
• 1. Concept Development and Testing: The selected ideas are further developed into tangible product concepts. This involves creating prototypes, outlining product features, and conducting concept testing with target customers to gather feedback and refine the concept.
• 1. Business Analysis: The business analysis stage involves evaluating the financial viability and market potential of the product concept. This includes analysing costs, potential sales volumes, competition, and market demand to assess the product's profitability and feasibility.
• 1. Product Development: Once the concept is approved, product development begins. This stage involves designing the product, creating engineering specifications, and developing a working prototype. Testing, refinement, and modifications are carried out to ensure the product meets quality standards and customer expectations.
• 1. Market Testing: Before a full-scale launch, the product is tested in a controlled market environment. This can involve limited distribution or a soft launch to gather real-world feedback, assess consumer response, and identify any necessary improvements or adjustments.
• 1. Launch: In this final stage, the product is introduced to the market. It includes activities such as finalising branding and packaging, setting pricing and distribution strategies, implementing marketing and promotional campaigns, and ensuring effective distribution and customer support.