Chapter 4

Markets and Product or Service Development

Abstract

This chapter takes the reader through the product planning and development process. The process includes the idea stage, the concept stage, the product development stage, and the test market stage. Readers will learn how to segment the market, identify a target market, and assess the market opportunity.

Keywords

Idea development process

Product planning and development process

Business-to-consumer (B2C) groups

Business-to-business (B2B) groups

Stem cell therapy

REDBus Built on First-Hand Market Experience

During the holiday season of 2005, M. Phanindra Sama became frustrated with Bengaluru, India traffic as he waited long hours in traffic and could not make it to the ticket counter ...

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