It is a process which is used to evaluate innovative product ideas, strategies and marketing trends.

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2 It is a process which is used to evaluate innovative product ideas, strategies and marketing trends. Idea screen is a management tool used to examine the strength of new product ideas by answering questions related to the viability and potential success of the new product idea used to filter out the bad ideas and discover the really good ideas.

3 Some questions help to determine idea screening process; If the target customers will benefit from the product? What will be the size and growth forecast of the target market? Is it technically possible to manufacture the product? Is the product idea based on current market trend? The current and future competitive pressure for the product idea?

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5 Pass/fail screening using aim and constraints Checklist screening using market suitability and technical possibility Economic evaluation using predicted market size, prices and production costs

6 OPTION Define outcomes and rate them for profitability and importance. Give each idea a score on probability for the outcome, and importance if it happens. The ideas with the highest scores are selected.

7 Dropping ideas too early means miss opportunities. Developing the wrong ideas means wasted resources in terms of time and financial investment.

8 Involves having persons or firms in the intended market use the new product for some time and report their reactions to it, in order to learn whether it satisfies the market needs identified in the ideation stage of development.

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10 ALPHA TEST It is a type of internal user acceptance testing The focus of this testing is to simulate real users Usually internal employees of the organization do this tests Critical issues or fixes can be addressed by developers immediately in Alpha Testing Alpha testing is to ensure the quality of the product before moving to Beta testing. Reliability and security testing are not performed in-depth Alpha Testing BETA TEST It is a form of external user acceptance testing. Beta Testing of a product is performed by "real users" Beta testing reduces product failure risks Most of the issues or feedback is collected from Beta testing will be implemented in future versions of the product It provides increased quality of the product through customer validation Reliability, Security, Robustness are checked during Beta Testing

11 Monadic Test Sequential Monadic Test Paired Comparison

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14 Measuring the acceptability of new products by buyers Understanding the market response Testing the marketing strategy Estimation of market success

15 1. Pseudo Sale 2. Controlled Sale 3. Full Sale

16 1. Pseudo Sale 2. Controlled Sale 3. Full Sale Pseudo sales is a method where you offer your product, or even the mere concept, to your potential customers and find out whether they would buy it. A controlled sale is a type of market testing used by firms in which the distribution is controlled or restricted. In some cases, the new product is distributed to outlets with little or no cost. An alternative to the controlled sale is the pseudo sale. Full sale is a market testing method in which the marketing is complete and is issued in final form with the new product as in a final commercialization launch. There are no restrictions on the product, the marketing materials or distribution of the new product

17 Benchmarking improves performance by identifying and applying best demonstrated practices to operations and sales. Managers compare the performance of their products or processes externally with those of competitors and best-in-class companies and internally with other operations within their own firms that perform similar activities. The objective of Benchmarking is to find examples of superior performance and to understand the processes and practices driving that performance. companies then improve their product by tailoring and incorporating these best practices into their own operations not by imitating, but by innovating.

18 Improve performance. Understand relative cost position. Gain strategic advantage. Increase the rate of organizational learning.

19 Advantages Implements creative ideas Increased competitions Developing improvements Identifies essential activities Quality of work Increased performance Disadvantages Stabilized standards Insufficient information Decreased results Lack of customer satisfaction Lack of understanding Increased dependency

20 Plan Understand Determine Gather Identify Communicate Action plan Improvements and monitör

21 Henry Ford Xerox British Airways and British Rails

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