Product Development Process

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1. Which option describes Beta and Market Testing?

  • 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
  • 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
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2. Which option descibes Commercialisation?

  • 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
  • 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

3. Which option describes Business Analysis?

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

4. Which option descibes Technical Implementation?

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

5. Which option describes Concept Development?

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

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