New Product Development Process Stage 6

PRODUCT DEVELOPMEN
Ideas passing through business analysis are given serious consideration for development. Companies direct their research and development teams to construct an initial design or prototype of the idea. Marketers also begin to construct a marketing plan for the product. Once the prototype is ready the marketer seeks customer input. However, unlike the concept testing stage where customers were only exposed to the idea, in this step the customer gets to experience the real product as well as other aspects of the marketing mix, such as advertising, pricing, and distribution options (e.g., retail store, direct from company, etc.). Favorable customer reaction helps solidify the marketer’s decision to introduce the product and also provides other valuable information such as estimated purchase rates and understanding how the product will be used by the customer. Reaction that is less favorable may suggest the need for adjustments to elements of the marketing mix. Once these are made the marketer may again have the customer test the product. In addition to gaining customer feedback, this step is used to gauge the feasibility of large-scale, cost effective production for manufactured products.

Reference: http://www.knowthis.com/principles-of-marketing-tutorials/managing-products/product-development-steps

My opinion: Physically design and manufacture the product and produce a physical prototype or mock-up and test the product its packaging in typical usage situations etc.Foe example McDonald's combines three simple products (a burger, fries, and soft drink) into another product that is separately branded (a McDonald's Happy Meal).