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25 Cards in this Set
- Front
- Back
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what are the New-product Development Process? |
idea generation idea screening concept development and testing marketing strategy development
business analysis product development test marketing commercialization |
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what is the 1st New-Product development process? |
idea generation |
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what is the 2nd New-Product development process? |
idea screening |
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what is the 3rd New-Product development process? |
concept development and testing |
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what is the 4th New-Product development process? |
marketing strategy development |
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what is the 5th New-Product development process? |
business analysis |
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what is the 6th New-Product development process? |
product development |
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what is the 7th New-Product development process? |
test marketing |
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what is the last New-Product development process? |
commercialization |
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What R-W-W screening framework: |
Is it Real? Can we Win? is it Worth doing? |
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In Screening Framework "R, W,W" stands for? |
REAL WIN WORTH |
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it is the systematic search for new-product ideas? |
Idea generation |
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what are the under of internal sources? |
formal research/ executives/ engineers/ designers/ manufacturers/ salespeople. |
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what are the under of external sources: |
customers / competitors / distributors / suppliers |
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inviting broad communities of people (customers, employees, independent scientists and researchers, and even the public at large) into new-product innovation process. |
crowdsourcing |
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concept testing refers to testing new-product concepts with a group of target consumers to find out if the concepts have strong consumer appeal. |
concept developing and testing |
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it is an idea for a possible product that the company can see itself offering the market? |
Product Idea |
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it is a detailed version of the idea stated in meaningful consumer terms? |
product concept |
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it is the way consumers perceive an actual or potential product. |
product image |
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it involves a review of the sales, costs and profit projections to find out whether they satisfy the company’s objectives? |
business analysis |
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it is the introduction of the new product; When to launch / Where to Launch / Planned market rollout? |
commercialization |
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it is slow sales growth, little or no profit, high distribution and promotion expense. |
Introduction |
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it is a sales increase, new competitors enter the market, price stability or decline to increase volume, consumer education, profits increase, promotion and manufacturing costs gain economies of scale |
Growth |
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it is a slowdown in sales, many suppliers, substitute products, overcapacity leads to competition, increased promotion and R&D to support sales and profits. |
maturity |
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:maintain the product, harvest the product, drop the product. |
decline |
