Marketing and Consumer Behaviour
The marketing section focuses on the fuzzy front end and the muddy back-end of the new product development (NPD) process.
Relevant issues in the fuzzy front end are market, customer, trend, and competitor analyses. At this stage, the company also has to decide which market segments to target with what kind of product concepts.
In the muddy back-end of the NPD process, new products will be launched in the market-place. At this stage, commercialization and communication strategies are important and new products need to be positioned in such a way that customers understand and appreciate the benefits that will be delivered by the new product. The ultimate aim of this market oriented NPD process is the market acceptance of the new product.