New Product Development Stages.

Before a product is launched into the market there are several stages that it has to go through. Idea Generation. A new product development process starts with the search for ideas. A pool of new product idea is generated in the hope that at least one or a few of them will be developed into […]

Market Segmentation

Market segmentation is the subdivision of a market into small homogeneous sub-markets which an organization can successfully satisfy. I have ¬†subdivided the market¬†into four basis as follows; Demographic Basis This consists of dividing the market into groups on the basis of certain demographic variables. Age Consumers needs and wants change with age. A variety of […]