Year of Award
Master of Business Administration (MBA)
College of Business & Professional Studies
product, sales, market analysis, forecasting
Introducing a new product into a regional or national market involves a substantial dollar commitment and risk. Therefore, a company needs a risk reduction approach to reduce costs and risks in their new product development process.
Chapter one describes the risk-reduction approach for new product development. Each phase in the approach ends with a Go/No-Go Decision that is aimed at reducing the risks and costs.
The second chapter begins with a recognition of a new product opportunity. The final step in this first phase of the risk reduction approach is a management review meeting which ends with an agreement on the company’s initial expectations.
Chapter three begins with the marketing department collecting, analyzing, and evaluating all available facts on the potential opportunity. Based on the information from the marketing situation analysis the the marketing department evaluates the worthiness of the new product opportunity and new product idea.
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This work is licensed under a Creative Commons Attribution-No Derivative Works 4.0 License.
Arinze, Martin Okwudili, "Risk Reduction for New Consumer Product Development" (1990). Theses, Dissertations, and Capstone Projects. 448.
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