Which of the following best describe the new offering-development process? Quest

Question

Which of the following best describe the new offering-development process?

Question 6 options:

Idea generation, development, and commercialization

Product design, testing, feature screening, and commercialization

Ideation, design, testing, screening, development, and evaluation

Idea generation, idea screening, feature specification, development, testing, commercialization, and evaluation

Idea generation, development, and commercialization

Product design, testing, feature screening, and commercialization

Ideation, design, testing, screening, development, and evaluation

Idea generation, idea screening, feature specification, development, testing, commercialization, and evaluation

Explanation / Answer

New offering-development process summarizes these steps

Idea generation, Idea Screening, Feature Specification, Development, Testing, Commercialization, and Evaluation

every organisation knws that productivity plays an important role in successful product development.

The process for the new product development is summerized as below

Idea generation: In this step basic idea is created and described.

Screening the Idea: In this step the companies consider how well the product fit in with its competitve strategy. The main purpose of screening the idea is to avoid mistakes as early as possible in the development process. As sooner as the bad ideas are removed , the less the investment is. In the idea screening stage,

Feature specification: In this step we will develop the detailed specifications of the product.Price enters into picture as the company considers which features are more important to consumers at different price points.

Development: In this stage the actual product is designed, prototypes of it are developed and  specifications for it are written . The firm considers the products manufacturing process in this stage only

Testing : In this stage, the product is tested in the lab and then test with the real customer

Commercialization: In this step we will made our product available in the market to the customers. Sometimes companies launches the product to all of its markets at once but some companies use a rolling launch in which the product is made available to certain markets first and then other markets later

Evaluation: Once the product is launched into the market, companies executives carefully monitor its progress. We moniter and evaluate because to check whether the product is delivering the appropriate value to customers or not

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