What are the key steps in the product development process for a micro-enterprise?

The product development process for a micro-enterprise involves several structured steps that ensure the product meets market needs and has a successful introduction to the market. The correct answer highlights the essential phases of ideation, market research, design, testing, and launch.

Ideation is the initial step where ideas are generated, identifying potential products based on creativity and market gaps. This is critical as it sets the foundation for all subsequent steps.

Market research follows, which is vital for understanding customer preferences, potential competition, and market trends. This knowledge helps refine the product concept to ensure it aligns with consumer demands and market viability.

Design is where concepts are transformed into tangible products. This step involves creating prototypes or models, focusing on functionality, usability, and aesthetics.

The testing phase is essential to validate the product design, gather user feedback, and make necessary adjustments before full-scale production. It helps identify potential issues and ensures that the product meets quality standards.

Finally, the launch step is where the product is introduced to the market. This phase involves marketing strategies and sales tactics to attract customers and make the product a success.

In summary, the combination of these five steps provides a comprehensive framework that micro-enterprises can follow to develop products effectively, ensuring they meet market needs