Arrange the following new product planning process in proper sequence.

A. Idea screening

B. Idea generation

C. Concept development and testing

D. Market strategy development

E. Business analysis

Choose the correct answer from the options given below:

Correct option is B

The proper sequence of the new product planning process is:
1. Idea Generation (B): The first step involves brainstorming and sourcing innovative ideas for a new product.
2. Idea Screening (A): Ideas generated are filtered to eliminate those that are not feasible or do not align with organizational goals.
3. Concept Development and Testing (C): The selected idea is expanded into a detailed concept, and feedback is obtained from potential customers.
4. Market Strategy Development (D): A marketing plan is developed, including target market identification, positioning, and sales strategies.
5. Business Analysis (E): The financial feasibility and potential profitability of the product are evaluated before moving to development.
Information Booster:
The new product planning process is essential for ensuring that a product idea is systematically assessed for its feasibility and potential success. This structured approach minimizes risks and increases the likelihood of the product meeting market demands. The process ensures that only viable ideas proceed to development and market launch.