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MKC1Collins

chapter 7 Developing and Managing Offerings

QuestionAnswer
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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