Marketing Communication Plan
New product ideas can be developed through testing and analysis to ensure their viability. For a product to be fully developed, it undergoes various stages such as idea generation, screening, concept testing, business analysis, product development, test marketing, and commercialization. The first stage involves coming up with the business idea that is to be materialized into action. The idea created then has to be screened based on the business framework appropriate for the idea. The next phase involves developing concept testing, where the business idea is tested in different markets. New product concepts are also tested before it moves into the final stage, which is business analysis. The final stages involve product development that consists of making it whole and ready to be tested in the market. A successful market testing results to the commercialization of the new product.
I had experienced high-quality service when I went to sick for insurance services with one of the insurance companies in the city. The company agents provide me with a full description of all types of covers available and then advised me on the best cover for life assurance I was to take. On the other hand, I had also experienced low-quality services when I went to sick medical attention in one of the hospitals. It took six hours for the doctor to come and attend to me, which very bad and I was not satisfied. The two cases contributed to my perception of the bad and low quality of services.
Disruptive innovations are possible because they get started in two types of marketers. The new marketer’s footholds and disrupters develop a market where it did not exist. They can find a way to turn nonconsumers into consumers. The authors argue that disrupters can create a market through innovation, which is a concept different from the traditional one. I think the disruption approach will work for a few marketers.