Production Description & Prototyping Flashcards
What are the three minds that converge to create a successful new product?
The creative mind, the technical mind, and the business mind.
What does the creative mind do in product development?
Conceptualizes and designs a product that consumers find useful, creating emotional attachment.
What role does the technical mind play in product development?
It is the technology originator and adapter, merging old learning with new to create successful products.
What is the function of the business mind in product development?
Connects the potential of new products by creating a market, managing environments, and turning passion into profit.
Define product description.
A marketing strategy that explains what a product is and why consumers will buy it.
What are the objectives of a product description?
- Understand the purpose, function and benefit of the product
- State who will use the product and how will used it
- Identify quality levels required
- Express skills needed to produce the product.
What is the first step in writing effective product descriptions?
Know your target market.
Why should you focus on product benefits in descriptions?
Buyers want to know how the product will improve their life, not just its features.
What does it mean to tell the full story in product descriptions?
Fully disclose details that convince buyers of benefits and create an emotional impact.
How should product descriptions be written in terms of language and tone?
Use natural language and tone as if talking with friends.
What are power words in product descriptions?
Words or phrases that entice emotions and encourage purchases.
What is an important aspect of making product descriptions scannable?
Use bullet points, short sentences, and different fonts.
What is the purpose of creating a prototype?
To transform the product concept into a viable product and test its functionality.
What are the advantages of prototyping?
- Tests and refines design functionality
- Tests performance of materials
- Helps describe the product effectively to staff and investors.
What is market validation?
The process of presenting a product concept to the target market to determine its worth.
What are two common approaches to market validation?
- Interviewing people in the target market
- Sending out surveys to target personas.
What is the first method to validate a product’s marketability?
Ring the cash register by making initial sales.
What is involved in conducting competitive analysis?
Evaluating the current market demand and analyzing direct competition.
How can Google Trends assist in market validation?
It shows how often people search for the product, indicating demand trends.
What is crowd-funding in the context of market validation?
Using small amounts of capital from many individuals to finance a new business venture.
What is the benefit of meeting customers in person for market validation?
Gathering quick, first-hand feedback and observing initial reactions to the product.
What is beta testing?
Creating a test version of a product and running it past a small audience for feedback.
What should you do if no one seems interested in your product?
Reassess the product concept and market approach.
