1: A company’s marketing strategy may be revised to include new products as it considers its SWOT analysis and the impact of environmental factors on its product mix. When developing a marketing plan, the company must decide whether new products are to be added to the product mix, or if existing ones should be modified. The information in this chapter will assist you in the creation of your marketing plan as you consider the following:
1. Identify whether your product will be the modification of an existing one in your product mix, or the development of a new product.
2. If the product is an extension of one in your current product mix, determine the type(s) of modifications that will be performed.
3. Using Figure 11.1 as a guide, discuss how your product idea would move through the stages of new-product development. Examine the idea using the tests and analyses included in the new-product development process.

Figure 11.1
4. Discuss how the management of this product will fit into your current organizational structure.

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Idea generation Screening Concept testing Business analysis Product development Test marketing Commercialization