Breaking down the five-steps of marketing resarch process, when proposing a product?

I need a tip on how can the 5 steps of marketing research process can be conducted interms of proposing a product.

Breaking down the five-steps of marketing resarch process, when proposing a product?
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35 years experience in advertising





I imagine there are dozens of potential elements involved when considering a product for the marketplace. Here are a few that come to mind.


1. What is needed and useful, for a specific or general segment of society?


2. What can be easily manufactured?


3. What can be be readily distributed?


4. How will the pricing work for the maker, wholesaler and retailer, allowing for promotion and overhead? In other words, profitability.


5. What are the short and long term plans for extending the product reach with follow-up products that relate back to the original concept?


Once these are answered, one can begin to construct a realistic picture of product development and future goals.


I have helped bring many products top market. Hope this helps and good luck.





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