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Product development is developing the product concept into a physical product in order to ensure that the product idea can be turned into workable market offering.V Prototypes must have correct physical features and convey psychological characteristics.Test marketing is the stage of new-product development in which the product and marketing program are tested in realistic market settings.V Prototypes are subjected to physical tests.
Product development is developing the product concept into a physical product in order to ensure that the product idea can be turned into workable market offering.
In product development, R&D or engineering develops the product concept into a physical product. The product development step calls for a large jump in investment. At this stage: Prototypes are made. V Prototypes must have correct physical features and convey psychological characteristics. V Prototypes are subjected to physical tests.
Test marketing is the stage of new-product development in which the product and marketing program are tested in realistic market settings.
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