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Process of new product development in marketing

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Briefly explain the process of new product development in marketing.

Describe a recent new and innovative product. What is its Value Proposition (in your perspective), and how/why in that context does it appeal to/relate to your? What elements about it are particularly appealing to you and why? How do organizations know about consumer desires and preferences?

Selected Product: The Ring Light

The ring light has many uses but because popular with the usage of celebrities and social influencers using it to create professional looking photos and videos.

Benefits:

https://ringlights.com.au/9-benefits-of-using-a-ring-light/

https://www.thriveproductstudio.com/ring-lights-product-photography/

https://cosmeticbeautyboutique.com.au/2020/05/18/22-reasons-why-you-could-benefit-from-a-ring-light/

Appealing to me: I am a momager of my daughter who is an actress, model and social influencer and we use it for her home auditions, photo shoots and videos. We also use to for home family photos.

Reference no: EM132890640

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