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New Product Planning

The first and usually most extensive area of work within the Product Management Life Cycle Model, which consists of three phases: Concept, Feasibility, and Definition. It is called new but it really considers both brand new product ideas as well as ideas for enhancements of existing products. Within this are of work, many product concepts are generated and are progressively narrowed. This process requires considerable market research and documentation. The outcome form NPP should be a product idea that is worthy of the investment sought, and has the potential to achieve strategic, market, and financial success

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