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MKC1Collins
chapter 7 Developing and Managing Offerings
| Question | Answer |
|---|---|
| New offering development process | Idea generation, Idea screening, Feature specification, Development, Testing, Launch or Commercialization, Evaluation. |
| Lead users | potential customers who are innovative and develop new applications or new products for their own use without the aid of a supplier. |
| Line extension | occurs when a company comes out with another model (related product) based on the same platform and brand as one of its other products. Ex: Apple Nano vs. Shuffle. |
| Concept testing | involves running the idea of the offering by potential consumers. The purpose is to get early consumer feedback before investing too much money in an offering that won’t work. |
| Focus groups | group of potential buyers brought together to discuss a marketing research topic with one another. |
| Depth interviews | An exploratory research technique of engaging in detailed, one-on-one, question and answer sessions with potential buyers. |
| Process feasibility | the degree to which the company can actually make and service the product. |
| Financial feasibility | new offerings ability to make money. |
| Investment risk | the possibility that the company will fail to earn the appropriate return on the money and effort (the investment) it puts into the new product. |
| investment risk, or the possibility that the company will fail to earn the appropriate return on the money and effort (the investment) it puts into the new product. | |
| Opportunity risk | the risk that there is a better idea that gets ignored because the firm has invested in the idea at hand. |
| Quality function deployment (QFD) | a process whereby a company begins with the customer’s desired benefits and then designs an offering that delivers those benefits. |
| During the testing stage, the offering is tested, first in the lab and then with real customers. Lab testing is also called alpha testing. Alpha testing | ensures that the offering works like it’s supposed to in a variety of different environments—that it meets its specifications. |
| Beta testing | actual customers make sure the offering works under real-world conditions. Beta testing not only tests whether the offering works as advertised but also tests the offering’s delivery mechanisms, service processes, and other aspects of marketing the produc |
| Rolling launch | the offering is made available to certain markets first and then other markets later. A rolling launch might make sense if the company’s service technicians need training. |
| Market test | test the complete launch of a product’s marketing plan to ensure that it reaches buyers, gets positive feedback, and generates sales of the product or service. |
Created by:
bobcollins
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