Product Development Process

HideShow resource information

1. Which option descibes Review of Market Performance & Product Pricing?

  • Launch Activities, Promotional Material Creation and Publication, Advertising, Distribution Pipeline, Critical Path Analysis
  • Customer Reaction, Impact on Exisiting Portfolio, Value & Compeition Analysis, Review production costs, Forecast Unit Volumes, Revenue and Profit, Review of After-Sales Service
  • Estimating Likely Selling Price, Sales Volume, Profitability, Break-Even Point, Return on Investment
  • Estimation of Resources Required, Finalise Quality Management System, Resource Estimation, Operational Management Plan, Publish Technical Communications (Data Sheets, Specifications), Finalise Supplier Agreements, Finalise Logistics Plan
1 of 8

Other questions in this quiz

2. Which option describes Concept Development?

  • Product Launch Activities, Advertising, Distribution Pipeline, Critical Path Analysis
  • Intellectual Property Issues, Product/Service Features, Benefits and Feasibility, Consumer Reaction, Production Cost-Effectiveness and Costs, Prospective Customer Liaison
  • Estimating Likely Selling Price, Sales Volume, Profitability, Break-Even Point, Return on Investment
  • Customer Reaction, Impact on Existing Portfolio, Value Analysis

3. Which option describes Beta and Market Testing?

  • Production of Physical Prototype, Testing Product, Testing Package Design, Conduct Customer Focus Groups, Introduce product/service at Trade Shows, Pilot Study, Distribution Channels
  • Product Launch Activities, Advertising, Distribution Pipeline, Critical Path Analysis
  • Intellectual Property Issues, Product/Service Features, Benefits and Feasibility, Consumer Reaction, Production Cost-Effectiveness and Costs, Prospective Customer Liaison
  • Estimating Likely Selling Price, Sales Volume, Profitability, Break-Even Point, Return on Investment

4. Which option descibes Commercialisation?

  • Estimating Likely Selling Price, Sales Volume, Profitability, Break-Even Point, Return on Investment
  • Launch Activities, Promotional Material Creation and Publication, Advertising, Distribution Pipeline, Critical Path Analysis
  • Intellectual Property Issues, Product/Service Features, Benefits and Feasibility, Consumer Reaction, Production Cost-Effectiveness and Costs, Prospective Customer Liaison
  • Estimation of Resources Required, Finalise Quality Management System, Resource Estimation, Operational Management Plan, Publish Technical Communications (Data Sheets, Specifications), Finalise Supplier Agreements, Finalise Logistics Plan

5. Which option describes Idea Generation?

  • Intellectual Property Issues, Product Benefits and Features, Production Costs
  • SWOT Analysis, Market Research, Customer Feedback, Analysis of Competitor Offer, Brainstorming New Product Ideas
  • Estimating Likely Selling Prices, Sales Volume, Profitability and Breakeven
  • Elimination Unsound Concepts, Target Market (Size, Growth), Market Trends, Product/Service

Comments

No comments have yet been made

Similar Business resources:

See all Business resources »See all Unit 5 - Innovation resources »