NPD Flashcards
1
Q
NEW PRODUCT STRATEGY DEVELOPMENT
A
FINDING A ROLE FOR A NEW PRODUCT IN TERMS OF THE COMPANIES MISSION. IDENTIFYING MARKET AND STRATEGIC R0LES.
2
Q
IDEA GENERATION = INTERNAL
A
THE COMPANYS OWN FORMAL RESEARCH AND DEVELOPMENT, MANAGEMENT AND STAFF
3
Q
IDEA GENERATION = EXTERNAL
A
SOURCES OUTSIDE THE COMPANY SUCH AS CUSTOMERS, COMPETITORS, DISTRIBUTORS, SUPPLIERS AND OUTSIDE DESIGN FIRMS.
6
Q
SCREENING AND EVALUATION
A
ELIMINATION OF IDEAS THAT ARE NOT WANTED.
7
Q
BUSINESS ANALYSIS
A
LOOKS AT WHAT THE PRODUCT REQUIRES TO BRING TO THE MARKET.
8
Q
DEVELOPMENT
A
MAKING THE PRODUCT.
9
Q
MARKET TESTING
A
TO SEE IF PEOPLE WILL BUY, TESTED UNDER REALISTIC CONDITIONS.
10
Q
COMMERCIALISATION
A
FULL SCALE PRODUCTION AND SALES, THIS IS THE MOST EXPENSIVE STAGE.
