Essay On New Product Development Process

Essay On New Product Development Process-69
The R-W-W framework asks three fundamental questions about new ideas: ‘Is the market and product real? Based on the idea generation and screening theory, at first our team analysis the feasibility of our new ideas and decide to choose the idea of ‘Freshies’ deodorant wipe within existing company Unilever.Firstly, regular users of deodorant are a huge potential consumer group all over the world, and the deodorant market in the UK has a good momentum of growth.It has high potential for the industry and suits for the image of building a conscious society in the UK.

Thus marketers need to research the internal and external marketing environments before designing the initial marketing strategy for a new product.

Moreover, marketers need to recognize that they cannot attract all buyers in the marketplace, thus they must divide the market into smaller segments and offer different strategies to the separate market.

The result of our investigation shows that although deodorant belonging to an industry that is highly saturated, wipes can open up a whole new market that has not been penetrated to its full potential. Therefore, our product may have strong consumer appeal if implemented properly. New Product Development (NPD) Process Theory [Internet]. [Accessed 7 September 2019]; Available from: https://

Consumer purchase behaviors are influenced strongly by cultural, social, personal, and psychological characteristics (Kotler and Armstrong, 2011).

This may include some preliminary market research to find the market need, niche, and attractiveness (Page, 1993).

Through the preliminary market research, it would also reveal the most promising features of the new products and assess the purchase intent of customers (Trott, 2005).

As an important consumer sector of FMCGs, personal care products constitute a large part of the British market, but meanwhile the competition in this field is fierce, firms have to keep supplying new products to meet the rapidly changing needs of their customers (Trott, 2008).

This report described both the NPD process theory and our practice of the theory from idea generation through to launch and roll out, and then analyzed the benefits and disadvantage of the process.

Because the brand identifies of Unilever was developed around the concept of ‘adding vitality to life’, we have created a concept shortlist for building a brand which is ‘cost effective’, ‘relevant for all markets’, ‘convenient’ or ‘healthy’.

At first we share the concept with our paired group to get primary advices of our product, by this we determined that our concept is to build a new, biodegradable, portable deodorant wipe.

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