Analyze how your company will implement the New-Product Development Process (seven stages) to bring your product/service from concept to commercialization.
Scenario: Using the same organization and product/service you used in the Week 3 learning team assignment and the same scenario, you will be presenting the following analyses to the board of directors and stakeholders. They will be using these analyses to make their final decision on how, and if, to launch your company’s new and unique product/service.
Develop a minimum 250-word analysis addressing the following:
- Conduct an environmental scan for your company focusing on which of the five external forces the company is likely to be impacted by and what actions they will need to take to overcome them.
- Select and describe the price strategy your company will use to launch its product/service. Why is that strategy the best choice and will it need to be adjusted over the duration of the Product Life Cycle (PLC)? Why or why not?
- Select four of the following methods and explain how they should be used by your company. Explain the reasoning why they align best with your target segment and product:
- Public relations Write about this one only disregard others.
- Traditional Digital marketing
- New Digital marketing techniques (describe)
- Sales promotion
- Direct marketing
- Event marketing
- Analyze how your company will implement the New-Product Development Process (seven stages) to bring your product/service from concept to commercialization.
Cite a minimum of three peer-reviewed sources.At least one source should be from the textbook and at least one source from the University Library.