Review an article relevant to the topic: Creating new products and services The review should be around 350 words and should summarize the article. Please include how it applies to our topic, and why...

Five Steps to Develop a New Product by Juan Manuel de Toro
The article is an eye opener as to how developing a new product is easy but how to sustain the
marketability and suitability of the new product needs to be looked at in five steps.
The author says that as much as 95% of new products meet failure. There is no prescription of
how this could be avoided but it can be mitigated if five steps are followed.
1. Identify an Opportunity and Generate a New Idea to Fill It
It is imperative to find out if there is a need for the product because if no one needs the product it
is bound to fail. Hence senior managers need to look...