A New Product Development & Launch Process By Using Market Research Techniques | MOM Programme | Day-2 | MBA college in Bangalore

Posted by Dr. Kethan M On 25/08/2022 06:22:48

Dr.Kethan M, Associate Professor at IIBS, conducted this session on the second day of the MBA 2022 batch's MOM programme. The goal of the Session is to find and develop a framework that will clarify the entire product development and launch process while also increasing the success rate of new product launches using Market Research Techniques.

The session began with an introduction to marketing terminology. With a continuation of the 4Ps of marketing and how this is important for product design. Examples of how Indian companies plan their products are discussed. Then, an introduction to research methodology was conceived with the goal of providing knowledge-building on the fundamentals of research concepts, methodologies, and processes, as well as hands-on training in the Product Launch Process.

The session concluded with an activity. Students were divided into six teams of eight and assigned the task of developing a new product with a tag line, specifications, marketing strategies, branding, and promotion using marketing research techniques, followed by a group presentation.

The purpose of the Session is to concrete structured process, including each step from product conceptualization to the stage of launching the product into the market in accordance with the type of launching strategy that the Marketing Manager must develop using Research Methods.

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