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

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Presentation on theme: "Product Planning Chapter 6. Product Development Charter Review Five general approaches to evaluate concepts 1.Charter review 2.Concept testing 3.Scoring."— Presentation transcript:

1 Product Planning Chapter 6

2 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

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

4 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

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

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

7 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

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