Not all marketers put a product out in the market to test customer reaction. H. Commercialize the Product 1. The price tag includes all the investments in manufacturing, packaging, shipping, and promoting the new product. Smart marketers listen to customer feedback at this point so they can fix problems quickly. The time and cost involved in developing and bringing a new product to market varies.
Many marketers prefer to speed new products to market before the window of opportunity ends.
I. Managing the New Product Development Process 1. Going outside the organization is a good way of getting help for bringing out a new product. Some marketers form strategic alliances with other companies to develop new products. Suppliers are joining cross-functional teams to help marketers meet customers' wants and needs. Some are setting up venture teams to work only on new product projects.