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environment scanning
concept of developing a product
stages
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Created by
jared pahilga
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Cards (14)
What methods can an entrepreneur use to identify customer needs?
Surveys, interviews, research, focus group discussions, and observations
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Why is identifying customer needs important in product development?
It
determines
the products to be
produced
or
provided
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What types of information can be gathered in the first stage of identifying customer needs?
Product specifications
such as performance, size, color, shape, and lifespan
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What is a target specification in product development?
A target specification is essentially a
wish-list
based on customer
needs
and competitive
product
reviews
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Why is it important to analyze competitive products during product development?
To provide important
information
in establishing
product
or
service
specifications
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What should be considered when analyzing competitive products?
Successful
design attributes
that should be
emulated
or
improved
upon
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What is the outcome of generating product concepts?
To illustrate types of products or services that are technically feasible and meet target specifications
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What happens after developing product concepts?
A
final
concept is selected through
evaluation
between
attributes
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What is the purpose of additional market research after selecting a product concept?
To obtain
feedback
from certain
key
customers
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How are product specifications refined in the development process?
Based on
input
from
previous
activities
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What factors are considered in the final specifications of a product?
Expected service life, projected selling price, and extensive study results
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Why is performing economic analysis important during product development?
To review and estimate development expenses, manufacturing costs, and selling prices
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What should be included in the detailed development plan during the project planning stage?
A list of
activities
, necessary
resources
,
expenses
, and a development
schedule
with
milestones
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What are the key stages in the product development process?
Identify customer's
needs
Establish
target specifications
Analyze
competitive products
Generate
product concepts
Select
a product concept
Refine
product specifications
Perform economic
analysis
Plan
the remaining development project
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