part 1. 400-500 words. 3 references with url please. apa formatTrace a real or hypothetical new product through the steps in the new product development process, including idea generation, concept verification and testing, actual development, and test marketing. Discuss the establishment of “go/kill” points, meaning the criteria used to determine whether to proceed with the new product idea or abandon it at various stages in the process.The idea generation stage should include potential sources of ideas such as trend monitoring, serendipity, or customer focus groups. The concept testing stage should include possible modifications based on feedback from potential customers, such as asking customers how this new product idea compares with present ways of the need the new product is intended to satisfy.The final paragraph (three or four sentences) of your initial post should summarize the one or two key points that you are making in your initial response.Your posting should be about 1 page (400 to 500 words) in length.
part 2. 5-6 pages with 5 references with url in apa format please The Business PlanDesign a detailed business plan for a new product, service, or business venture of your choice. This could be an idea you have been contemplating or a product presently being marketed, but your business plan must reflect the uniqueness of the idea. For example, it might involve the modification of a certain product based on the unique needs of your community or peer group. Follow the business plan outline provided in Table 8.1 of the course textbook. Be sure to include:Title pageTable of contentsExecutive summaryDescription of product, service, or businessDescription of industry or industry closest to your product or serviceMarketing planFinancial planProduction planOrganizational planOperational planSummaryAppendices (exhibits)While it is expected that plan components may vary in length, each should contain detail commensurate with its nature and importance.
Submit your answers in a 5- to 6-page Microsoft Word document, using APA style.