The product development life cycle typically includes the following stages: 1) Idea generation and screening: This is the initial stage where new product ideas are considered and evaluated for potential development. 2) Concept development and testing: The product idea is developed into a detailed concept and tested for its market viability. 3) Business analysis: This stage involves assessing the product's potential impact on the company's sales, costs, and profits. 4) Product development: The product is designed, developed, and tested. 5) Market testing: The product is tested in its final form in the market. 6) Commercialization: The product is launched in the market. 7) Post-launch review and perfect pricing: The performance of the product is reviewed after launch and pricing strategies are adjusted if necessary.
How do you stay innovative and provide the right values for customers? Effective product development...
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