New-product development process at GoPro involves seven basic steps. The first step is new product strategy development, during which the company explores social trends about using a particular item. Secondly, the team moves to idea generation, which can be either creative or formulaic. The third stage is the screening, evaluation, and approval of an idea. Fourthly, the firm builds a business case to predict potential market threats and analyze how successful the product will be. The fifth and sixth steps involve developing a functional prototype and market testing. The final stage is commercialization using a detailed marketing plan because triggering customers’ interest and desire to purchase the product is crucial for its success. Overall, this marketing strategy is similar to the conventional process, but the first step in GoPro is a market assessment that allows for determining the future marketing strategy.
Describe the new-product development process used at GoPro. What are the similarities and differences to the conventional process?
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Academic.Tips. (2022) 'Describe the new-product development process used at GoPro. What are the similarities and differences to the conventional process'. 25 November.
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Academic.Tips. (2022, November 25). Describe the new-product development process used at GoPro. What are the similarities and differences to the conventional process? https://academic.tips/question/describe-the-new-product-development-process-used-at-gopro-what-are-the-similarities-and-differences-to-the-conventional-process/
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Academic.Tips. 2022. "Describe the new-product development process used at GoPro. What are the similarities and differences to the conventional process?" November 25, 2022. https://academic.tips/question/describe-the-new-product-development-process-used-at-gopro-what-are-the-similarities-and-differences-to-the-conventional-process/.
1. Academic.Tips. "Describe the new-product development process used at GoPro. What are the similarities and differences to the conventional process?" November 25, 2022. https://academic.tips/question/describe-the-new-product-development-process-used-at-gopro-what-are-the-similarities-and-differences-to-the-conventional-process/.
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Academic.Tips. "Describe the new-product development process used at GoPro. What are the similarities and differences to the conventional process?" November 25, 2022. https://academic.tips/question/describe-the-new-product-development-process-used-at-gopro-what-are-the-similarities-and-differences-to-the-conventional-process/.
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"Describe the new-product development process used at GoPro. What are the similarities and differences to the conventional process?" Academic.Tips, 25 Nov. 2022, academic.tips/question/describe-the-new-product-development-process-used-at-gopro-what-are-the-similarities-and-differences-to-the-conventional-process/.