Concept development and testing - new product development, Marketing Management

Concept Development and Testing

The third stage in the procedure is concept development and testing. Concepts can take on several forms are following:

1). A product idea is an idea for a probable product that the company may see itself on the market.

2). A product concept is a thorough version of the new-product idea specified in meaningful consumer terms.

3). A product image is the way consumers perceive real or potential product.

a. Concept development includes generating product ideas into some alternative product concept, searching out how attractive each of the concepts is to consumers, and selecting the best one.

b. Concept testing involves testing the concepts with a group of focused consumers to discover if the concepts have strong consumer appeal. Concepts can be presented to consumers either physically or symbolically. Marketers are always attempting to discover new ways to create product concepts more actual to concept-test subjects.

1). A word or picture description might be sufficient for some concept tests.

2). Virtual reality tests are becoming famous.

3). It is routine to test concepts before consumers before trying to turn them into actual products.

Posted Date: 11/8/2012 1:19:40 AM | Location : United States

Your posts are moderated
Related Questions
State about the network marketing organisations Readers are encouraged to see the elements of mix as a set of complementary ingredients, each drawing on potential of the others

Explain the various approaches that are followed by FMCG Companies in test marketing.

Sales force management : as a general rule, rural marketing involves more intensive personal selling effort compared to urban marketing. Rural marketing calls for some specific

Explain the relationship between Frederick Herzberg's dual (two) factor motivation theory and job enrichment. Hygiene factors contain pay, status, working conditions, rules and

Question 1: (i) Describe the storage facilities for the receipt of goods from suppliers. (ii) What are the factors involved in the arrangement of food in the store? (ii

Question: (i) Identify and illustrate five trends for travel demand. (ii) Show how these trends would have an impact on the supply of air travel, assuming that there is a

Q.   Explain market segmentation?  Tell need to segment the markets? O R Clarify th e term market segmentation & briefly explain the need to segment the market? A

how can i defined the 7ps in hotel service

what is the concept of augmented product

Question 1: (a) Discuss and explain with the use of an example the steps involved in conducting an Environmental Impact Assessment (EIA) for planning a new development in a des