Product Management/Concept Testing & Evaluation Flashcards
When does concept testing occur within the NPD?
Concept generation
Why is it important to concept test?
- Is there a market need for a product
- Saves time & resources
- Testing is relatively cheap
- Allows prioritisation of ‘good’ projects
What does the PIC allow for in NPD?
- Cuts down ideas by:
- Testing them against strategic fit
- Testing them against the market
- Tests again affordability
What is a product concept?
A statement about the anticipated product features and benefits
When is concept testing not appropriate?
- ‘Personal sense’ products: perfume
- Arts & entertainment products
- New technology products, e.g. hair mousse
What is the purpose of concept testing?
- Eliminate bad ideas
- Profiling the market: buying patterns, exisiting segments
- Estimate sales
- Develop/improve the idea
How can you concept test an idea?
- Use of historical data
- Expert opinions
- Focus groups
- Scenario analysis
- Conjoint (trade off) analysis
What steps do we go through to concept test?
- Preparing the concept statement
- Undertaking the research
- Analysing research results
- Scoring the concepts
Describe how you prepare the concept statement:
Need to consider: the format, commercialised or not, including competitor information and the price
What are the key considerations when undertaking the concept testing research?
- The respondent group
- The response situation
- The interview sequence
How do you analyse the results from concept testing?
- Gives you the decision to proceed or not
- Search for patterns within the data: group of people seeking same thing?
What type of criteria are there when concept testing?
Must and should meet
