You have been recently appointed as a “New Product Development” Head for Micromax
India. You have been asked to develop a brand-new innovative product namely 5G
enabled affordable smartphone as part of their product portfolio.
a. Explain the process in detail to arrive at the creation of your new product
b. Is there a need to conduct Test Marketing? If Yes or No, please state your reasons to
support your answer.
To successfully launch a new product in the market, one has to follow a series of steps. These are to ensure the right products are introduced in the market and when needed most by the consumers. I will consider the following key step in launching a 5G product; ideation, screaming, concept testing, metrics for success, market test, launch plan, market momentum, and post-launch review, and continuous improvement.
Test marketing is to check the visibility of the launch of the new product in the market before the launching of the final product. Test marketing is needed to ensure that product launched is ready to be sold in the market.