Marketing Agency
Differentiating Factors in Product Design Quality Consumers place a value on quality; therefore high quality products may be able to win share and/or command a price premium. LEARNING OBJECTIVES Identify the attribute of quality at… Differentiating Factors in Product Design
Commercialization Commercialization the process of launching a new product; it may involve heavy promotion and filling the distribution networks with the product. LEARNING OBJECTIVES Describe the three steps that must be implemented during the commercialization… Commercialization the process of launching a new product
Test Marketing Test marketing is the final stage before commercialization, and is where all the elements of the marketing plan are tested. LEARNING OBJECTIVES Discuss the requirements that must be satisfied to conduct successful test… Test Marketing : The stage where all the variables in the marketing plan
Development Development involves setting product specifications as well as testing the product with intended customer groups to gauge their reaction. LEARNING OBJECTIVES Describe the steps involved in the technical and marketing development stages of new… Development:marketing development stages of new product development
Business Analysis The output of the business analysis stage is a prediction about whether the product is likely to be profitable or not if ultimately produced. LEARNING OBJECTIVES Demonstrate knowledge of the components included in… Business Analysis
Concept Testing Concept testing is important for evaluating consumer responses to a product before market introduction. LEARNING OBJECTIVES Explain concept testing, its disadvantages, and alternative methods used to evaluate consumer behavior toward new concepts KEY… Concept Testing
Idea Generation The success of product-driven companies is directly tied to new product development, which is generated through innovative ideas. LEARNING OBJECTIVES Identify the five primary sources of product innovation KEY TAKEAWAYS Key Points The… Idea Generation For new products
Strategy A good NPDS can help organize research, prioritize customer needs, and reduce cost overruns, to ensure a smooth development process. LEARNING OBJECTIVES Describe the three common approaches to strategically developing new products KEY TAKEAWAYS… New Product Development Strategy
New Product Development The Need for New Products In dynamic markets companies must constantly introduce new products and services to keep up with changing consumer wants and needs. LEARNING OBJECTIVES Discuss the common challenges of… New Product Development
When to Modify Products While the decision to modify products happens ideally at the design stage, products can be changed during any phase of the life cycle. LEARNING OBJECTIVES Name the external factors that can… When to Modify Products