product planning chapter 6. product development charter review five general approaches to evaluate...
TRANSCRIPT
Product Planning
Chapter 6
Product Development Charter Review
• Five general approaches to evaluate concepts
1. Charter review
2. Concept testing
3. Scoring models
4. Snake plots
5. Financial analysis
• Can be utilized in combination with each other
Charter Review
• Evaluates the concept against the criteria established in the product development charter
• “Pass/Fail” approach
Concept Testing
• Incorporates customer opinions (very important!)– What works or doesn’t work– Strengths and weaknesses observed– Likelihood to buy– Suggestions for improvement
• Different types of concept tests– Narrative, picture/sketch, prototype, virtual
reality image
Scoring Models
• Different criteria and scores for each criteria observed
• Usually a cut-off level for concepts to proceed to next stage
Snake Plots
• Extension of scoring model approach
• Plotting multiple unweighted scores
• Looking for profile that is most appealing
• Example page 98
Financial Analysis
• ATAR model and ECV model generate real rough numbers
• ATAR is awareness, trial, availability, and repeat purchase
• ATAR does not factor in competition or up-front R&D costs
• ECV is expected commercial value
• It is a loose net present value approach