During a recent management meeting, two of division manag­ers got into quite a t

Question

During a recent management meeting, two of division manag­ers got into quite a tussle over the programs they use to evalu­ate new product ideas. One of them said he felt evalua­tion was very important; he wanted to do a complete analysis, and he certainly didn't want anyone working to further the devel­op­ment of a product unless the prospects for it looked highly prom­ising. The other manager ob­jected to this, saying she wanted products to move rapid­ly down the development path, saving the serious evalua­tion for the time when she had the data to make it meaningful. Both managers make a good argument for their process. How does market research and the full screen approach enhance the product concept decision making process? Will these activities ensure the success of the product? Why or why not?

Explanation / Answer

Ans::Market research and also the full screen approach enhance the product concept decision making process.

Explanation::

The answer depends on whether or not or not you wish to seek out out if they're each right. They certainlycould be, since the mode of an analysis system depends heavily on (a) the accumulative expenditures curve and (b) the availability of knowledge which might enable a competent assessment. the primary purpose is directly from the text, and shows that a firm with heavy initial expenditures (for example: hi-tech firms or pharmaceutical firms) should build an early analysis. Once the heavy up-front expenditure is made there's very little reason for extensive further evaluations. In contrast, several services are prepared concerning as shortly as their character is stipulated, with no up-front technical research, thus in their case one tends to rely mainly upon final evaluations.Regarding the matter of data, if customer reaction to a size or function or maybe to a positioning can primarily confirm purchase intentions, then all the construct testing within the worldwon't answer the question. In such cases product testing and market testing are the solution. different times, given an understanding of user desires, the lab will build the ultimate model, thus early analysis is most important.

And the activities additionally make sure the product success, because the market price and also the demand of the product may be obtained within the marketing research process and that we ought to ensure it may be given best to the users by estimating all the things in correct manner.

Related Questions

Navigate

• Browse (All)
• Browse D
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.