Below are files part 1 and part 2 of this project. Please use these files to create this order**
For this assignment, you are to develop a new product concept and research the demand, proposed product attributes, and other factors that will determine the viability of the product, and to make recommendations for the development, testing, and commercial launch of the product. This project is divided into four parts, each being completed in conjunction with several of the modules in the course. These are as follows:
Part 1—Concept Generation Paper
Part 2—Concept Testing and Screening
Part 3—Product Protocol
Part 4—Proposed Product Launch Plan
For Part 3, Product Protocol, you are to generate a protocol for the actual product you are proposing. Remember, a protocol is an agreement among the functions about the required output or deliverables for the specific new product program; it sets the standards for it. It is a tool for managing the process. Develop a detailed protocol using the outlines suggested in Chapter 12 of the textbook as they fit your product. Present your protocol in outline form. It should be about 4–6 pages. Submit it with any supporting materials you think useful to your Instructor by the due date.
New Product Development Project, Part 1: Concept Generation Paper
For this assignment you are to develop a new product concept and research the demand, proposed product attributes, and other factors that will determine the viability of the product, and to make recommendations for the development, testing, and commercial launch of the product. This project is divided into four parts, each being completed in conjunction with several of the modules in the course. These are as follows:
• Part 1—Concept Generation
• Paper Part 2—Concept Testing and Screening
• Part 3—Product Protocol
• Part 4—Proposed Product Launch Plan
For Part 1, Concept Generation Paper, you are to generate a new product concept using one or several of the techniques described in the readings. You should then use one of the attribute analysis techniques to determine what features and characteristics your new product should have.
Your paper should describe how you generated the idea and how you analyzed the product to determine the “correct” number of attributes. The paper should be thorough in your discussion of the topic and should be 8–10 pages. Any diagrams or charts should be included in an appendix. Submit your paper to your instructor by the due date.
Introduction
Product testing is the procedure of comparing the properties of various commodities. It also defined as the process of assessing features of good diverse products. Product testing is also known as consumer testing or comparative testing (Armstrong, 2015). In Product testing, the researcher focuses on the performance of the product, safety of the product to the public, quality of the product and the adherence of the product to the outlined level of standards. The researcher should perform the tests independently without requesting assistance from the people who manufacture the product, product supplier, and the product marketers.
Product screening is the evaluation of the product to determine whether the commodity will be profitable or not. The main reason for product screening is to get rid of products which might end up leading to loss-making in the business organization. Product testing and selection are based on evaluating product demand, proposed product attributes, and benefits, target market, cost producing that product and other factors that might determine the viability of the product. In this paper, we are required to also make recommendations for the protocol, product development, testing and later leading to the commercial launch of the product.
Product testing is relevant since by testing the commodity becomes acceptable throughout the universe. The product can be traded in every part of the world. The product producers will also have the courage to advertise the products since the product is acceptable. Screening is therefore crucial to every business organization that is looking forward to developing and launch a new product. Both new and existing products can be screened. Existing products can be added to fresh flavors or ingredients. The company that is coming up with the product should test the product and also filter the idea of developing such type of a product. This product can later be made available in the marketplace where the selling takes place. The commodity might gain fame when the product is advertised and if its quantity and quality are not indeed compromised.
It is known that no person can forecast the success of a product in the marketplace. However, all is not lost since there exist several steps that a developer of a commodity can go through to increase their probability of the product to get in touch with the target population. One example of product testing is the prototype testing. Prototype testing is the process through which the original model of the product is made. It is always wiser for a product developer to make market evaluation even before launching the product at very early stages. Physical product testing is also done to the product users. This will enable the product developer to avoid other expensive costs that might be incurred when the developer will be trying to improve the quality of the already existing product. The physical product testing will enable the customer to determine whether the goals and the desires of the product consumer have been met. Below, I have discussed both the market product testing and also the physical product testing.
Market Product Testing
In market product testing, there are several steps which are involved after the product has been developed through the specifications of the potential consumers who are currently available in the market. The steps that are involved in physical product testing are discussed below.
Assessing the Market
This is the most crucial part of market product testing. In the process of testing a commodity which is physical, it is imperative to determine whether there exists a market which is addressable for the product to be sold. The product should have the ability to satisfy the need which is already living in the potential marketplace. The superiority of the product does not matter if the product can achieve the needs of the customers who are available in the market. The developer should make use of google trends to determine the interest levels of the customers concerning the product itself. Therefore, the developer can know more about the exact product the individuals who are the potential customers are in need. This will also enable the developer to determine the demand levels of the product. This will allow the developer to know the number of commodities to manufacture or process so as the demand will not exceed the supply. The popularity of the product can also be determined by making use of google trends. The prevalence can either be increasing or decreasing.
A small business may consider crowdfunding as the platform for researching in the market. Entrepreneurs can measure the interests of the market by proposing the market ideas and products. This can be done through inviting groups of people to participate in donating through the various donation platforms which are well known. Crowdfunding enables the business to higher levels of interest. It also attracts greater customer interests. This ensures the developer to market their products to the customers even before the product hit the shelves of customers.
Expectation Definition
Prototype testing is used when the developer can define objectives clearly. The developer should also make sure that the goals are definite. By establishing goals of the product and clearly stating the intentions, the business can enhance the probability of success. This can be done by evaluating factors like the available customers and setting up the guidelines which can be used to collect the data. These data obtained will enable the developer to decide whether to launch the product or not. Business owners are usually advised to take time in considering the characteristics of the product and choose the audience which has to participate in a logical manner.
Audience Selection
Selecting the correct audience is the best favor a business person can do to his or her product. Choosing the right audience will ensure that physical product test is as useful as possible. The audience should be mainly composed of individuals are also found in the available marketplace. Factors such as age, gender, and level of income of the consumer and even, the locality of the consumer. The developer should also consider the available information about the interest of the target audience on the product. In case the product users are less interested they might not pay much attention to the product and, this might lead to unexpected losses in case the product is launched. Business owners should also start building the network of their customers as early as possible. The goal of developing this network is to make connectivity’s today such that by the time the product is launched, the target audience already will be having the required information. This will allow the business person to collect data which will be considered as accurate. The data will enable the developer to decide on whether to market the product or not.
Presentation Creation
There should be good problem presentation which is the crucial factor in the process of market testing. Item presentation is a presentation which is designed to introduce the commodity to the target audience. Product presentation should be detailed concerning the business and, it is always concerned with issues affecting the product. It is advisable for a business person who focusses on making a profit to create a problem presentation earlier than presenting a project prototype. The participants are expected to raise these issues on their own. The main aim of the product developer should be to listen to the population which is likely to consume the product. The audience is also expected to speak out the challenges that they are facing while using the commodity in their daily activities. Immediately the target audience found in the target market address the problems that they are currently facing; the commodity developer should provide solutions to those problems. These will generally enable the target population to have confidence while using the commodity. This is because the audience will have placed the trust on their esteemed commodity developer.
Solutions based on suggestions
When the problems are identified in the market testing stage, the possible solutions concerning these problems should be developed by the business people. These will boost the esteem of the target population in the targeted market to know how they should deal and make use of the product which is in the testing phase. When a developer is conveying his or her ideas to solve these problems, he or she should concentrate much on giving huge ideas rather than focusing in mere aspects which might affect the target population at a later date. The product developer should then take time to have feedback from the potential customers. As a product developer, the goal of issuing suggestions is to make sure that the proposals that you made your target population are making sense and correct the most important issues on product usability (Cooper, 2013).
The developer of the commodity should later redesign the plans and grades that generally are not making any sense to the target population yet. He will also be able to know the level of interest that the target population has up to this level.
Physical Product Testing Services
Businesses are expected to make use of online product testing services so that they can decide and generally gain knowledge on products that they are going to release in the market to be used by the target audience. They should assume the role of online companies after the product developers after the product has gone through market testing and already accepted by the customers. Companies like the center code will handle the prototype testing. The company enables the product developer to collect the valuable information about the available commodities.
Screening Ideas
In launching a new product in a market, it is always advisable to screen the ideas and come up with the best aspects. These ideas should be the most convenient. The approach should also enable the product developer to make the best profit in launching the product. The product should exhibit the highest levels of demand as compared to similar products in the target market.
In this stage, the product developer decides whether to invest more resources in this particular commodity. The product developer should consider several factors while carrying out the product screening. They should view the availability of ready market where they can readily sell the commodity (Cooper, 2013). The competitive environment should also be considered. The target market should not be having similar products since it may lead to opportunity loss that can be made by the product developer. The product should also, meet the expectations of the consumer base and even the amount that is demanded in the market. The ability of the product to achieve the expected profit levels is also expected to be met. The product developer always has hope that the product is going to be profitable and this will generally motivate the developer to proceed to further stages of product development.
Determining the acceptable product attributes
The characteristics of a given product should attract the customers. These characteristics can only be determined at individual levels but for a complete product. Product attributes depend on the views of target customers concerning the newly launched project.
Product attributes are based on what makes the product different from other products. These qualities are dependent on things like product size, the color of the commodity, how the product is packaged, and other several features which are in that category. These attributes influence the consumer perspective and attitude in purchasing g the product. Manufacturers usually make use of these attributes to design the package of their product.
Conclusion
In conclusion, product testing and screening are essential to any business organization since it is the determining factor whether the commodity will be profitable or not. Product screening and testing process is also a critical process and therefore a fundamental need for any new merchandise that is going to be developed in the market after a short while.
References
Armstrong, Gary, et al. Marketing: an introduction. Pearson Education, 2015.
American College of Sports Medicine. (2013). ACSM’s guidelines for exercise testing and prescription. Lippincott Williams & Wilkins.
Goldsmith, M. R., Grulke, C. M., Brooks, R. D., Transue, T. R., Tan, Y. M., Frame, A., … & Isaacs, K. (2014). Development of a consumer product ingredient database for chemical exposure screening and prioritization. Food and chemical toxicology, 65, 269-279.
Cooper, R. G. (2013). New products: What separates the winners from the losers and what drives success. PDMA handbook of new product development, 3-34.