Product Design and Development Quiz
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Product Design and Development Quiz

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@GutsyNovaculite5429

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Questions and Answers

What is the main objective of market testing in product development?

  • To test products in an actual market setting. (correct)
  • To finalize the product packaging and branding.
  • To conduct prototype testing within the company.
  • To determine the psychological performance of the product.

    • What is the primary focus of the commercialization stage?

  • Conducting consumer testing and feedback collection.
  • Finalizing the product's functional design.
  • Rapidly building up production for the new product. (correct)
  • Developing prototypes for further testing.

    • Which of the following stages occurs immediately before market testing?

  • Functional Testing
  • Product Launch
  • Prototype Lab Testing
  • Consumer Testing (correct)

    • What consideration is NOT part of the decision-making in the commercialization stage?

    <p>How much to invest in prototype development</p> Signup and view all the answers

    What is the first step in the product development process as described?

    <p>Prototype development</p> Signup and view all the answers

    What is the primary goal of idea screening in the innovation process?

    <p>To identify the most promising ideas</p> Signup and view all the answers

    During concept development and testing, what does the 'product concept' represent?

    <p>A detailed elaboration communicated in consumer terms</p> Signup and view all the answers

    What is the next step after concept testing if the concept qualifies?

    <p>Product development</p> Signup and view all the answers

    Which group is NOT mentioned as a source for idea generation?

    <p>Suppliers</p> Signup and view all the answers

    What is evaluated during the business analysis phase?

    <p>Financial feasibility</p> Signup and view all the answers

    Which component is specifically related to consumer perception?

    <p>Product image</p> Signup and view all the answers

    What role do employees play in idea generation?

    <p>Encouraging and rewarding ideas</p> Signup and view all the answers

    Which stage involves providing detailed information to R&D to create a physical product?

    <p>Product development</p> Signup and view all the answers

    What is a key reason for the availability of many varieties or brands serving the same purpose?

    <p>Consumer demand and preferences</p> Signup and view all the answers

    Which stage in the new product development process involves evaluating ideas to discard those that do not fit the market?

    <p>Idea Screening</p> Signup and view all the answers

    How does globalization impact the availability of products?

    <p>Increases access to global markets</p> Signup and view all the answers

    What is one effect of technological advancements in product development?

    <p>Continuous improvements and new models</p> Signup and view all the answers

    Which option best describes the purpose of conducting surveys during product development?

    <p>To gather opinions for marketing strategies</p> Signup and view all the answers

    In the stages of new product development, which step follows business analysis?

    <p>Product Development</p> Signup and view all the answers

    What consumer aspect is primarily affected by product differentiation in the market?

    <p>Customer needs satisfaction</p> Signup and view all the answers

    Which of the following is NOT a stage in the new product development process?

    <p>Market Maintenance</p> Signup and view all the answers

    What is one way to communicate a concept effectively?

    <p>Through video or simulation</p> Signup and view all the answers

    What should be avoided when measuring customer response?

    <p>Actively promoting the product concepts</p> Signup and view all the answers

    Which element is NOT part of the formula for expected sales quantity (Q)?

    <p>F - Feedback score from customers</p> Signup and view all the answers

    If there are 10,000 potential customers and 60% are aware of the product, how many customers are aware?

    <p>6,000 customers</p> Signup and view all the answers

    How does an increase in the number of potential customers impact the expected quantity of sales?

    <p>It increases the expected quantity of sales</p> Signup and view all the answers

    What is the role of Cd in the sales quantity formula?

    <p>The likelihood that customers will definitely purchase</p> Signup and view all the answers

    In a scenario where only 50% of the customers are aware of the product, how would it affect the expected sales quantity?

    <p>The expected sales quantity would decrease</p> Signup and view all the answers

    What does the variable P in the sales formula represent?

    <p>The probability that the product is purchased</p> Signup and view all the answers

    What is the primary purpose of concept testing?

    <p>To determine which concepts should be pursued</p> Signup and view all the answers

    Which factor does not typically affect sample size in concept testing?

    <p>Time of year the survey is conducted</p> Signup and view all the answers

    What is a disadvantage of using postal mail for surveys?

    <p>Response rates can be lower than other formats</p> Signup and view all the answers

    Which of the following is essential for a successful focus group?

    <p>A skilled moderator</p> Signup and view all the answers

    What is the first step in the concept testing process?

    <p>Define the purpose of the concept testing</p> Signup and view all the answers

    Which method of documenting customer interactions captures both audio and video?

    <p>Video recording</p> Signup and view all the answers

    What is one major advantage of using the internet for surveys?

    <p>Immediate feedback from participants</p> Signup and view all the answers

    In the context of concept testing, what does 'reflect on the results and the process' mean?

    <p>Assessing both outcomes and how the testing was conducted</p> Signup and view all the answers

    Study Notes

    Product Design and Development

    • Products and services are available due to consumer demand, innovation, and technological advancements.

    • The smartphone market showcases the influence of consumer preferences, technological innovations, and global competition on product variety.

    Stages in New Product Development Process

    • The new product development process minimizes new product failure risk through a structured approach consisting of eight stages:

      • Idea Generation: Gathering ideas from various sources, such as customers, employees, competitors, and marketing channels.

      • Idea Screening: Filtering out low-potential ideas based on feasibility and potential.

      • Concept Development & Testing: Refining ideas into viable product concepts and testing them to validate their appeal.

      • Marketing Strategy Development: Creating a strategy for introducing the product to the market.

      • Business Analysis: Evaluating the financial feasibility and business attractiveness of the product.

      • Product Development: Transforming the concept into a physical product through prototyping, lab testing, and consumer testing.

      • Market Testing: Testing the product in a real market setting to assess market size and learn about consumer and dealer behavior.

      • Commercialization: Launching the product in the market and scaling up its production.

    Focus Groups

    • Focus groups involve guided group discussions to gather insights and resolve conflicting opinions.

    • Effective focus groups require a skilled moderator and involve planning, scheduling, and budgeting.

    Concept Testing Process

    • The concept testing process involves seven steps:

      • Define the Purpose: Identify the goals of the concept testing, such as assessing alternative concepts, improving the concept, or estimating sales.

      • Choose a Survey Population and Sample Size: Determine the target audience and the number of participants based on factors like the stage of development, cost, and budget.

      • Choose a Survey Format: Select the survey format that best suits the objectives, such as face-to-face, telephone, postal mail, or online surveys.

      • Communicate the Concept: Present the product concept effectively using methods like verbal descriptions, sketches, photos, storyboards, videos, simulations, or physical models.

      • Measure Customer Response: Gather data on customer preferences, purchase intent, and reasons for their responses.

      • Interpret the Results: Analyze the data to draw conclusions about the concept's appeal and potential for success.

      • Reflect on the Results and the Process: Evaluate the effectiveness of the concept testing process and make any necessary adjustments for future development.

    Activity 3

    • The expected quantity of sales is calculated using the formula Q = NxAxP.
    • The formula involves the number of potential customers (N), the fraction of aware customers (A), and the probability of purchase (P).
    • The probability of purchase is calculated using the percentages indicating definite purchase (Cd) and probable purchase (Cp).
    • The expected sales quantity can be adjusted based on changes in the number of potential customers or the awareness level.

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    Lecture 03 PDF

    Description

    Test your knowledge on product design and the new product development process. This quiz covers crucial stages such as idea generation, screening, and marketing strategy development. Understand how consumer demand and technological advancements shape the product landscape.

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