New Products Process Flashcards
The phase to:
-* Generate new products opportunities* as spinouts of the ongoing business operation, new products suggestions, changes in marketing plan, resource changes, and new needs/wants in the marketplace.
- Research, evaluate, validate, and rank them (as opportunities, not specific product concepts).
- Give major ones a preliminary strategic statement to guide further work on them.
Phase 1: Opportunity Identification and Selection
The phase to:
- Select a high potential/urgency opportunity, and begin customer involvement.
- Collect available new product concepts that fit the opportunity and generate new ones as well.
Phase 2: Concept Generation
The phase to:
- Evaluate new products concepts (as they begin to come in) on technical, marketing, and financial criteria.
- Rank them and select the best two or three.
- Request project proposal authorization when in possession of product definition, team, budget, skeleton of development plan, and final PIC.
Phase 3: Concept/Project Evaluation
Which DEVELOPMENT Phase (Phase 4)
- Specify the full development process and its deliverables. **
- Undertake to design* prototypes***; test and validate prototypes against protocol; design and validate production process for the best prototype; slowly scale up production as necessary for product and market testing.
TECHNICAL OR MARKETING?
Technical
Which DEVELOPMENT Phase (Phase 4) :
- Prepare strategy, tactics, and launch details for marketing plan.
-Prepare proposed business plan and get approval for it, stipulate product augmentation (service, packaging, branding, etc.) and prepare for it.
TECHNICAL OR MARKETING**
MARKETING
The phase to:
- Commercialize the plans and prototypes from development phase; begin* distribution and sale of the new product* (maybe on a limited basis)
- Manage the* launch program* to achieve the goals and objectives set in the PIC (as modified in the final business plan).
Phase 5: Launch
The annual marketing plan for a CD-ROM line calls for a line extension to meet encroachment of a new competitor selling primarily on price.
This is an example of:
A. Ongoing Marketing Planning
B. Ongoing Corporate Planning
C. Special Opportunity Analysis
A. Ongoing Marketing Planning
Top management adopts a strategy that says either own a market (meaning get either a first- or second-place share) or get out of it. This will require new product activity in all desirable markets where the firm holds a minor position.
This is an example of:
A. Ongoing Marketing Planning
B. Ongoing Corporate Planning
C. Special Opportunity Analysis
B. Ongoing Corporate Planning
One or more persons (in the firm or a consulting firm) are assigned to take an inventory of the firm’s resources (people, facilities, reputations, whatever).
This is an example of:
A. Ongoing Marketing Planning
B. Ongoing Corporate Planning
C. Special Opportunity Analysis
C. Special Opportunity Analysis
The process of creatively recognizing such opportunities is called ________.
A. Product Innovation Charter
B. Internal Mandate
C. Opportunity Identification
C. Opportunity Identification
New products people often must fill part of the gap between current sales and that target.
That assignment is called the product ________ (and/or acquisition) gap
A. Innovation
B. Opportunity
A. Innovation
If the opportunity focused on “people moving their families over long distances,” the first ideation step is to study those people and find what problems they have.
This is the __________ approach.
A. problem find-solve
B. product concepts
C. screening
A. problem find-solve
Before development work can begin on new ideas, they need to be evaluated, screened, sorted out. This activity, sometimes called ________ or pretechnical evaluation.
A. Product Concept
B. Screening
C. Evaluation
B. Screening
This is the phase during which the marketing plan is sketched and gradually fleshed out
Phase 4: Development
Traditionally, the term ________, or commercialization, has described that time or that decision when the firm decides to market a product (the Go in Go/No Go)
A. Launch
B. Development
launch
What is the first appearance of an idea, typically in its raw, undeveloped form?
a) Opportunity Concept
b) Idea Concept
c) Stated Concept
d) Prototype Concept
b) Idea Concept
Which concept identifies a company skill, resource, or customer problem that presents a potential opportunity?
a) Opportunity Concept
b) Fully Screened Concept
c) Marketed Concept
d) Process Concept
a) Opportunity Concept
Which concept has been evaluated by end users, confirming a need for it?
a) Stated Concept
b) Tested Concept
c) Pilot Concept
d) Prototype Concept
b) Tested Concept
Which concept includes a form or technology plus a clear statement of benefit?
a) Idea Concept
b) Protocol Concept
c) Stated Concept
d) Fully Screened Concept
c) Stated Concept
Which concept is a tentative physical product or system that includes features and benefits but is not yet mass-produced?
a) Prototype Concept
b) Marketed Concept
c) Opportunity Concept
d) Batch Concept
a) Prototype Concept
Which concept finalizes the entire manufacturing process, ensuring full production capability?
a) Process Concept
b) Pilot Concept
c) Opportunity Concept
d) Fully Screened Concept
a) Process Concept
Which concept represents the first full test to confirm that the product can be manufactured successfully?
a) Batch Concept
b) Tested Concept
c) Marketed Concept
d) Idea Concept
a) Batch Concept
Which concept provides a supply of the new product, produced in quantity from a pilot production line, for field testing?
a) Fully Screened Concept
b) Prototype Concept
c) Pilot Concept
d) Opportunity Concept
c) Pilot Concept
Which concept represents the product’s official launch, either for a test run or full commercialization?
a) Process Concept
b) Marketed Concept
c) Stated Concept
d) Pilot Concept
b) Marketed Concept
Which concept includes a detailed product definition specifying the intended user, the problem, benefits, and necessary features?
a) Opportunity Concept
b) Fully Screened Concept
c) Protocol Concept
d) Idea Concept
c) Protocol Concept
Which concept indicates that the product has successfully met its original goals and is performing well in the market?
a) Tested Concept
b) Marketed Concept
c) Successful Concept
d) Batch Concept
c) Successful Concept
Which concept has passed the company’s internal assessment and aligns with strategic goals?
a) Fully Screened Concept
b) Stated Concept
c) Idea Concept
d) Marketed Concept
a) Fully Screened Concept
One of today’s most discussed management goals in product development is ______________ (APD), or speeding the product to market.
Accelerated Product Development
The term ______ development is sometimes used to describe this process; the name refers to the many iterations between firm and customer.
Spiral
Under Accelerated Product Development, the product will be on the market for a (shorter/longer) period of time before becoming obsolete, it can attract customers early and possibly block competitors with similar products that hit the market at a later time, or it can help to build or support a firm’s reputation
longer
