Most business units are required to respond to competitive pressure by maintaining or increasing market share and enhancing profitability; launching new products or services is often a key strategy behind achieving these market share and profitability goals. Marketers are most often on the front line of this battle, continually trying to develop line extensions or new offerings to satisfy the organizational demands of share and profit while meeting the desires of an often fickle marketplace. The need to develop high quality, winning “concepts” for these new products or services becomes glaringly apparent.
Find out more about concept development and key concept development pitfalls here.
