New offering development process

Idea generation, Idea screening, Feature specification, Development, Testing, Launch or Commercialization, Evaluation.

potential customers who are innovative and develop new applications or new products for their own use without the aid of a supplier.

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.

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.

group of potential buyers brought together to discuss a marketing research topic with one another.

An exploratory research technique of engaging in detailed, one-on-one, question and answer sessions with potential buyers.

the degree to which the company can actually make and service the product.

Financial feasibility

new offerings ability to make money.

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.

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.

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

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.

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.

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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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