Learning Goal: I’m working on a business project and need an explanation and ans

Learning Goal: I’m working on a business project and need an explanation and answer to help me learn.Organizations often utilize an eight-step process for the conception, evaluation, and introduction of new products and services. Many different departments from throughout the organization (and often experts from outside the organization) are involved in this process. New ideas are how new products and services are born, and each step is critical to the entire process.There are 8 Stages of the product development process:1. Idea Generation2. Idea Screening3. Content Development and Testing4. Development of Marketing Strategy5. Business Analysis6. Product Development7. Test Marketing8. CommercializationRead this article about the eight stages of new product development process:8 Stages of New Product Development Process (2021)Download the assignment template here. Then, in a 3–5-page paper, answer the following questions:What types of research or background materials would you gather to share with the team (e.g., market research on the industry, competitors, and customer trends)?
What goals would you identify to determine your team’s success?
Select 1 of the eight stages of the new product development process. What would you do to manage that step?
Individual Project RubricThe Individual Project (IP) Grading Rubric is a scoring tool that represents the performance expectations for the IP. This Individual Project Grading Rubric is divided into components that provide a clear description of what should be included within each component of the IP. It’s the roadmap that can help you in the development of your IP.ExpectationPoints PossiblePoints EarnedCommentsDefends/presents rationale25Describes the research/background materials30Describes the team’s goals for success30Describes how a step in new product development is managed30Professional Language: Assignment contains accurate grammar, spelling, and punctuation with few or no errors. (APA formatting is required or style specified in assignment).10Total Points125Total Points Earned
Requirements: clear and organized

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