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I-24

LESSON

Developing a New Product: Basic Steps

  • 1.

    Determine what the purpose of the product is.

  • 2.

    Determine who would use the product.

  • 3.

    Determine what the cost for “raw” materials is, and whether it can be manufactured

at a reasonable cost.

  • 4.

    Determine where you would place the product for sale, and why.

  • 5.

    Determine your methods of advertising, approximate costs, and design ads to

attract customers.

2000

IDEA

BOOK

9—HANDOUT

1

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