product development Flashcards
what is concept generation?
the thinking stage
why is concept generation important?
this helps to establish gaps in the market
what is concept screening?
when the best ideas are taken forward
why is concept screening important?
this helps to make a worthwhile product
what is prototype production?
a sample of the product is made
why is prototype production important?
helps to identify strengths and weaknesses of the product
what is product testing?
a sensory test is carried out on the product and feedback is given
why is product testing important?
helps to improve the product so it has a better chance of success
what is the first production run?
to test if the product is suitable for bulk production
why is the first product run important?
changes can be made if they are any issues
what is marketing plan?
decisions are made on how the product will be advertised
why is marketing plan important?
maximise the chance of product selling and increasing sales
what is product launch?
product is put on sale, sales are moinitered closely
why is product launch important?
helps to judge customers response and make sure sales do not drop
