The New Product Development Process In preparation for a presentation to the CEO of the organization next week on a product development strategy, prepare the following paper: Choose a product (not a service) which means it must be tangible. Prepare a paper addressing the following tasks on your selected product. Checklist: 1. Describe your new product. You have many choices. It could be a classically innovative product, newcategory entry, an addition to the product line or line extension. It could even include more minor product changes like product improvements, repositioning, or cost reductions. 2. Discuss the new product development process. 3. Discuss your new product launch strategy. Recall, launching requires that objectives be set, the strategy be developed, and that the implementation be planned and executed. Implementation is often a key factor in product failure. 4. Discuss the pricing strategy for your new product 4. You will provide a 3–5 page (APA formatted) paper with at least three supporting references. You should include at least one illustration which can be included in the body of your paper or appendix.