solved I need help with a Marketing question. All explanations and

I need help with a Marketing question. All explanations and answers will be used to help me learn.

Describe the stages involved in developing a new product or service by describing a specific example of a product or service through each stage and explaining the thought processes in detail. Use the Figure below as your guideline. For example, you might decide to remodel your room. You would brainstorm (idea generation) about the ways, such as painting it any color, even purple, and adding stereo sound, buying a small refrigerator, changing carpet to wood, buying a new bedspread, etc. Then (idea screening) which might mean the refrigerator and carpet change and stereo would be too expensive, and eliminate colors to neutral tones. So, you prepare a list of items: new bedspread, new pillows, paint, posters or pictures, a desk. For strategy, you decide to paint first, and see how that looks, then buy items accordingly. Apply numbers for the business analysis, which is pricing. A desk may not be affordable, so this item will take longer. You buy a bedspread, two pillows and a picture, and make sure you keep the receipts in case you want to return the items for other ones that you saw and also liked. You also might have consulted your parents in case you still live at home before you make purchases to get their approval, or invite a trusted friend to help you select patterns that work together. Commercialize means that you have put things on the market, such as new games, new foods, new apps. In the case of your room, you have remodeled and transformed the room. Now you consider other rooms for remodeling in your residence. If you live in an apartment, of course, you might not be able to paint, but could buy plants or bookcases to take up some of the wall space. (Hope this example triggers your thinking.)