00:01
So these are important key ideas where we want to develop a product for sale.
00:08
First, identify customer needs.
00:12
So we need to do this because we have to tailor our product to meet customer needs.
00:24
So we have to understand what customers need and want so that we develop a product that will actually sell.
00:32
Then we need to target specifications.
00:38
So what specifics should we include in our product? so, for example, what age group are we targeting with our product and what gender? then we analyze the competitive product.
01:06
So when we do this, we look at the price of the product and how well competitors ' products are selling so that we can have an idea of how we can price our good and how the market is doing for this product.
01:39
Generate a product concept.
01:41
So for this one, this is basically a draft of our product based on the data that we have gathered...