Product Planning Chapter 6. Product Development Charter Review Five general approaches to evaluate concepts 1.Charter review 2.Concept testing 3.Scoring.

Slides:



Advertisements
Similar presentations
Promotion Opportunity Analysis
Advertisements

Market Research Ms. Roberts 10/12. Definition: The process of obtaining the information needed to make sound marketing decisions.
Company Name Product Name Marketing Plan Student Name.
Triage Page Heller President Hopes Creek. HCC TechAssess Perform your evaluation and prepare something you can use as a communication tool at the same.
Net Present Value and Other Investment Criteria
Project Selection and Portfolio Management
What’s Happening?
5-1 © 2006 by Nelson, a division of Thomson Canada Limited 5/14/2015 Slides developed by: Peter Yannopoulos Chapter 5 Market Segmentation and Target Marketing.
Teaching materials to accompany:
Chapter 9 Net Present Value and Other Investment Criteria Copyright © 2012 by McGraw-Hill Education. All rights reserved.
Consumer Decision Making II
The New Product Development Process Concept Screening February 13, 2007.
Learning Goals Learn how companies find and develop new-product ideas
1 2-1 McGraw-Hill/Irwin Copyright © 2003 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin © 2003 The McGraw-Hill Companies, Inc.,
THE JOHNSON AGENCY 1 COMPETITOR ANALYSIS “Induce your competitors not to invest in those products, markets and services where you intend to invest the.
© 2003 The McGraw-Hill Companies, Inc. All rights reserved. Net Present Value and Other Investment Criteria Chapter Nine.
For use only with Perreault and McCarthy texts. © The McGraw-Hill Companies, Inc., 1999 Irwin/McGraw-Hill Chapter 10: Product Management and New-Product.
©2003 South-Western Chapter 9 Version 3e1 Developing and Managing Products Prepared by Deborah Baker Texas Christian University chapter 9 9.
chapter 16 Customer Metrics McGraw-Hill/Irwin © 2004 The McGraw-Hill Companies, Inc., All Rights Reserved.
New Product Development and Product Life-Cycle Strategies
Objectives Understand how companies find and develop new-product ideas. Learn the steps in the new-product development process. Know the stages of the.
New-Product Development and Product Life-Cycle Strategies
New Products Management
The Design Process By Mr. BZ Engineering and Design Fall 2011.
Yasir Javaid MBE Muhammad Amin MBE NPD Project.
Product Development Sports and Entertainment Marketing.
Marketing Hospitality, 3rd ed., Hsu/Powers Chapter 8 The Hospitality Product.
Project Selection and Portfolio Management
Pricing and Strategies
Essentials of Health Care Marketing 2nd Ed. Eric Berkowitz
Major Stages in New-Product Development
Copyright © 2005 Pearson Education Inc. New Product Development and Product Life-Cycle Strategies Principles of Marketing.
DEVELOPING NEW MARKET OFFERINGS
IDENTIFY AND MEET A MARKET NEED
The Product Lifecycle and New Product Development
Decision Making Matrix
Concept Evaluation and Selection… Integrated Product and Process Design ME En 475/476.
CHAPTER 12 Developing New Market Offerings. NOTION OF A PRODUCT A product is that which is offered to the market (consumer) to meet an identified need.
For use only with Shapiro, Wong, Perreault, and McCarthy texts. Copyright © 2002 McGraw-Hill Ryerson Limited. Chapter 10: Product Management and New-Product.
Product Design Chapter 4. Product Item Is a specific model or size of product Product Line Group of closely related products Product Mix All the products.
Product Design for Manufacturability and Automation
Chapter 30 product planning Section 30.1 Product Development
Concept Selection Teaching materials to accompany: Product Design and Development Chapter 7 Karl T. Ulrich and Steven D. Eppinger 2nd Edition, Irwin McGraw-Hill,
New-Product Development Session $50 billion in profits over 27 years $50 billion in profits over 27 years Early new-product development relied.
4-1 Copyright © 2009 Pearson Education Canada CHAPTER 4 Strategic Planning Concepts for Marketing Communications.
Net Present Value and Other Investment Criteria Chapter 8.
CHAPTER 4 CUSTOMER SERVICES AND RETAILOR FINANCIAL STRATEGY.
Chapter 10 Developing and Managing Products
Chapter 7 Concept Selection.
Research Uma Kanjilal. Functional Roles of Marketing Research DescriptiveStatements of fact DiagnosticExplanation of data PredictiveUsing data for forecasting.
Types of product development. Line extensions As consumers demands grow for a certain product, the manufacturing companies need to expand their sales.
Consumer Markets and Consumer Buyer Behavior Chapter 5.
The Marketing Plan Vishnu Parmar, IBA, University of Sindh, Jamshoro.
Section 5.1 Product Design.
Marketing decision & P.L.C.. Making Marketing Decisions.
Section 30.1 Product Development Chapter 30 product planning Section 30.2 Sustaining Product Sales.
Chapter 15 – MANAGING THE MARKETING FUNCTION Activity 15.1 (class answers) Q 1. Identify 2 advertisements you don’t like Q 2. Describe the elements of.
Goals of Advertising. Brand Awareness and Positioning  Make people aware that the brand exists and how it’s positioned Brand Trial  Encourage customers.
Product Life Cycle. Product Design Product Item – specific model or size of a product Product Classification Consumer Goods – are purchased and use by.
CREATIVITY AND THE BUSINESS IDEA Chapter : 05 CREATIVITY AND THE BUSINESS IDEA
MGT 450 Week 3 Quiz New 1. Which of the following is not a strength? 2. Which of the following is not a company weakness? 3. Which of the following is.
Chapter 30 product planning Section 30.1 Product Development
New-Product Development and Life-Cycle Strategies
Measuring Sources of Brand Equity: Capturing Customer Mind-Set
الوحدة 20 مهارات التواصل مع الآخرين
Features of a Successful Business
Features of a Successful Business
CONCEPT SELECTION chapter SIX
Chapter 7 Concept Selection
Product Planning And Utility.
Presentation transcript:

Product Planning Chapter 6

Product Development Charter Review Five general approaches to evaluate concepts 1.Charter review 2.Concept testing 3.Scoring models 4.Snake plots 5.Financial analysis Can be utilized in combination with each other

Charter Review Evaluates the concept against the criteria established in the product development charter “Pass/Fail” approach

Concept Testing Incorporates customer opinions (very important!) –What works or doesn’t work –Strengths and weaknesses observed –Likelihood to buy –Suggestions for improvement Different types of concept tests –Narrative, picture/sketch, prototype, virtual reality image

Scoring Models Different criteria and scores for each criteria observed Usually a cut-off level for concepts to proceed to next stage

Snake Plots Extension of scoring model approach Plotting multiple unweighted scores Looking for profile that is most appealing Example page 98

Financial Analysis ATAR model and ECV model generate real rough numbers ATAR is awareness, trial, availability, and repeat purchase ATAR does not factor in competition or up- front R&D costs ECV is expected commercial value It is a loose net present value approach

Feedback: Privacy Policy Feedback
Do Not Sell My Personal Information
About project: SlidePlayer Terms of Service

© 2025 SlidePlayer.com. Inc. All rights reserved.