Product development - Revision history

Anne Payen at 15:14, 22 April 2022

2022-04-22T15:14:36Z

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	this process is composed of various stages. Although it is not always the same steps for every organization, there are common stages through which products typically progress:		this process is composed of various stages. Although it is not always the same steps for every organization, there are common stages through which products typically progress:

	~~[[image:7-stages-of-new-product-development (1).jpg\|600px\|thumb\|Product development diagram]]~~
	* Idea Generation: Collective brainstorming ideas through internal and external sources.		* Idea Generation: Collective brainstorming ideas through internal and external sources.
	* Screening: Condense the number of brainstormed ideas.		* Screening: Condense the number of brainstormed ideas.

Anne Payen at 15:08, 22 April 2022

2022-04-22T15:08:14Z

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	<div>Document the business requirements for IT system support using appropriate documentation standards.</div>		<div>Document the business requirements for IT system support using appropriate documentation standards.</div>
	<div>With this in mind, the central role of the business analyst could be defined as an internal consultant role responsible for investigating business situations, identifying and evaluating options for improving business systems, defining requirements, and ensuring the effective use of information systems to meet business needs.		<div>With this in mind, the central role of the business analyst could be defined as an internal consultant role responsible for investigating business situations, identifying and evaluating options for improving business systems, defining requirements, and ensuring the effective use of information systems to meet business needs.
	= Developing MVP ~~[https://www.productplan.com/glossary/minimum-viable-product/#:~:text=A%20minimum%20viable%20product%2C%20or,iterate%20and%20improve%20the%20product. (Minimum Viable Product (MVP)]~~ =		= Developing MVP =

	A minimum viable product, or MVP, is a product with enough features to attract early-adopter customers and validate a product idea early in the product development cycle.		A minimum viable product, or MVP, is accord to [https://www.productplan.com/glossary/minimum-viable-product/#:~:text=A%20minimum%20viable%20product%2C%20or,iterate%20and%20improve%20the%20product. (Minimum Viable Product (MVP)], a product with enough features to attract early-adopter customers and validate a product idea early in the product development cycle.
	While focusing on releasing an MVP , developers potentially avoid lengthy unnecessary work. Instead, they iterate on working versions and respond to feedback, challenging and validating assumptions about a product's requirements.		While focusing on releasing an MVP , developers potentially avoid lengthy unnecessary work. Instead, they iterate on working versions and respond to feedback, challenging and validating assumptions about a product's requirements.

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	Now that you’ve weighed the strategic elements above and settled on the limited functionality you want for your MVP, it’s time to translate this into an action plan for development. It’s important to keep in mind that the product must be viable. That means it must allow your customers to complete an entire task or project, and it must provide a high-quality user experience. An MVP cannot be a user interface with many half-built tools and features. It must be a working product that your company should be able to sell.		Now that you’ve weighed the strategic elements above and settled on the limited functionality you want for your MVP, it’s time to translate this into an action plan for development. It’s important to keep in mind that the product must be viable. That means it must allow your customers to complete an entire task or project, and it must provide a high-quality user experience. An MVP cannot be a user interface with many half-built tools and features. It must be a working product that your company should be able to sell.

	= Market Testing [https://hbr.org/1975/05/when-where-and-how-to-test-market (Market testing)] =		= Market Testing =
	~~Test~~ marketing offers the marketing company two important advantages. First, it allows a product to be tested under real market conditions to obtain a measure of its sales performance. In addition to allowing management to make an accurate estimate of its potential sales. Second, it gives management the opportunity, while the product is on limited sale, to identify and correct weaknesses in the product or its marketing plan before committing to a sales launch.		According to [https://hbr.org/1975/05/when-where-and-how-to-test-market (Market testing)], test marketing offers the marketing company two important advantages. First, it allows a product to be tested under real market conditions to obtain a measure of its sales performance. In addition to allowing management to make an accurate estimate of its potential sales. Second, it gives management the opportunity, while the product is on limited sale, to identify and correct weaknesses in the product or its marketing plan before committing to a sales launch.

	Despite these advantages, market testing does have its limitations. It is an expensive and time-consuming method of gathering information about reactions to new products, and a market test should therefore be used only as a last resort. However, it is still the most cost-effective way to proceed with a new product.		Despite these advantages, market testing does have its limitations. It is an expensive and time-consuming method of gathering information about reactions to new products, and a market test should therefore be used only as a last resort. However, it is still the most cost-effective way to proceed with a new product.
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	In addition to these steps, another useful research tool can help further reduce uncertainty: the model test market. This is a research step between pre-test research and a full test market. Model test markets simulate the appropriate market to reduce both the time and expense of properly evaluating a full test market.		In addition to these steps, another useful research tool can help further reduce uncertainty: the model test market. This is a research step between pre-test research and a full test market. Model test markets simulate the appropriate market to reduce both the time and expense of properly evaluating a full test market.

	= Commercialization ~~[https://en.wikipedia.org/wiki/Commercialization (Commercialization)]~~ =		= Commercialization =
	<div>Commercialization or marketing is the process of introducing a new product or production method into commerce - making it available in the marketplace. This term refers to the definitive entry into the mass market (as opposed to entry into earlier niche markets), but it also refers to the transition from the laboratory to commerce (even if limited). Many technologies are born in a research and development lab or in an inventor's workshop and may not be practical for commercial use in their early stages (as prototypes). <br></div>		<div>Commercialization or marketing is defined by [[wikipedia:Commercialization\|(Commercialization)]], as the process of introducing a new product or production method into commerce - making it available in the marketplace. This term refers to the definitive entry into the mass market (as opposed to entry into earlier niche markets), but it also refers to the transition from the laboratory to commerce (even if limited). Many technologies are born in a research and development lab or in an inventor's workshop and may not be practical for commercial use in their early stages (as prototypes). <br></div>
	<div>The "development" segment of the "research and development" spectrum requires time and money, as systems are designed with the goal of making the product or method a paying commercial proposition. New product launch is the final stage of new product development - at this point, advertising, sales promotion, and other marketing efforts encourage commercial adoption of the product or method. Beyond commercialization (where technologies enter the business world) may be consumerization (where they become consumer goods, as when computers moved from the lab to the enterprise to the home, pocket, or body).</div></div>		<div>The "development" segment of the "research and development" spectrum requires time and money, as systems are designed with the goal of making the product or method a paying commercial proposition. New product launch is the final stage of new product development - at this point, advertising, sales promotion, and other marketing efforts encourage commercial adoption of the product or method. Beyond commercialization (where technologies enter the business world) may be consumerization (where they become consumer goods, as when computers moved from the lab to the enterprise to the home, pocket, or body).</div></div>

Anne Payen at 15:03, 22 April 2022

2022-04-22T15:03:37Z

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	= Commercialization [https://en.wikipedia.org/wiki/Commercialization (Commercialization)] =		= Commercialization [https://en.wikipedia.org/wiki/Commercialization (Commercialization)] =
	<div>Commercialization or marketing is the process of introducing a new product or production method into commerce - making it available in the marketplace. This term refers to the definitive entry into the mass market (as opposed to entry into earlier niche markets), but it also refers to the transition from the laboratory to commerce (even if limited). Many technologies are born in a research and development lab or in an inventor's workshop and may not be practical for commercial use in their early stages (as prototypes).~~</div>~~		<div>Commercialization or marketing is the process of introducing a new product or production method into commerce - making it available in the marketplace. This term refers to the definitive entry into the mass market (as opposed to entry into earlier niche markets), but it also refers to the transition from the laboratory to commerce (even if limited). Many technologies are born in a research and development lab or in an inventor's workshop and may not be practical for commercial use in their early stages (as prototypes). <br></div>
	~~<div>~~<br></div>
	<div>The "development" segment of the "research and development" spectrum requires time and money, as systems are designed with the goal of making the product or method a paying commercial proposition. New product launch is the final stage of new product development - at this point, advertising, sales promotion, and other marketing efforts encourage commercial adoption of the product or method. Beyond commercialization (where technologies enter the business world) may be consumerization (where they become consumer goods, as when computers moved from the lab to the enterprise to the home, pocket, or body).</div></div>		<div>The "development" segment of the "research and development" spectrum requires time and money, as systems are designed with the goal of making the product or method a paying commercial proposition. New product launch is the final stage of new product development - at this point, advertising, sales promotion, and other marketing efforts encourage commercial adoption of the product or method. Beyond commercialization (where technologies enter the business world) may be consumerization (where they become consumer goods, as when computers moved from the lab to the enterprise to the home, pocket, or body).</div></div>

Daniel K. Schneider: /* Introduction */

2022-04-22T11:10:20Z

Introduction

← Older revision		Revision as of 13:10, 22 April 2022
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	* Building a roadmap: Identifying which themes and goals are central to develop first to solve the most significant pain points		* Building a roadmap: Identifying which themes and goals are central to develop first to solve the most significant pain points
	* Evaluation: Research to monitor the progress of new service offering in relation to organizational goals.		* Evaluation: Research to monitor the progress of new service offering in relation to organizational goals.
	Exemple case: [[Upcycling ~~cloths~~ with embroidered emoji\|Upcycling cloths with embroidered emoji]]		Exemple case: [[Upcycling clothes with embroidered emoji\|Upcycling cloths with embroidered emoji]]

	= Idea Generation =		= Idea Generation =

Daniel K. Schneider: /* Introduction */

2022-04-22T11:00:47Z

Introduction

← Older revision		Revision as of 13:00, 22 April 2022
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	* Building a roadmap: Identifying which themes and goals are central to develop first to solve the most significant pain points		* Building a roadmap: Identifying which themes and goals are central to develop first to solve the most significant pain points
	* Evaluation: Research to monitor the progress of new service offering in relation to organizational goals.		* Evaluation: Research to monitor the progress of new service offering in relation to organizational goals.
			Exemple case: [[Upcycling cloths with embroidered emoji\|Upcycling cloths with embroidered emoji]]

	= Idea Generation =		= Idea Generation =

Daniel K. Schneider at 10:54, 22 April 2022

2022-04-22T10:54:39Z

Show changes

Daniel K. Schneider at 16:40, 4 March 2022

2022-03-04T16:40:48Z

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	by Anne Payen, ~~intern~~.		by Anne Payen, Intern.

	See also: [[Upcycling of clothes]]		See also: [[Upcycling of clothes]]

Daniel K. Schneider at 16:40, 4 March 2022

2022-03-04T16:40:28Z

← Older revision		Revision as of 18:40, 4 March 2022
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	by Anne Payen, intern.		by Anne Payen, intern.

			See also: [[Upcycling of clothes]]

	= Introduction =		= Introduction =

Daniel K. Schneider: /* Market Testing (Market testing) */

2022-03-04T16:35:57Z

Market Testing (Market testing)

← Older revision		Revision as of 18:35, 4 March 2022
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	= Market Testing [https://hbr.org/1975/05/when-where-and-how-to-test-market (Market testing)] =		= Market Testing [https://hbr.org/1975/05/when-where-and-how-to-test-market (Market testing)] =
	Test marketing offers the marketing company two important advantages:		Test marketing offers the marketing company two important advantages. First, it allows a product to be tested under real market conditions to obtain a measure of its sales performance. In addition to allowing management to make an accurate estimate of its potential sales. Second, it gives management the opportunity, while the product is on limited sale, to identify and correct weaknesses in the product or its marketing plan before committing to a sales launch.

	First, it allows a product to be tested under real market conditions to obtain a measure of its sales performance. In addition to allowing management to make an accurate estimate of its potential sales.

	Second, it gives management the opportunity, while the product is on limited sale, to identify and correct weaknesses in the product or its marketing plan before committing to a sales launch.


	Despite these advantages, market testing does have its limitations. It is an expensive and time-consuming method of gathering information about reactions to new products, and a market test should therefore be used only as a last resort. However, it is still the most cost-effective way to proceed with a new product.		Despite these advantages, market testing does have its limitations. It is an expensive and time-consuming method of gathering information about reactions to new products, and a market test should therefore be used only as a last resort. However, it is still the most cost-effective way to proceed with a new product.
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	There are four main factors to consider in determining the effectiveness of test marketing:		There are four main factors to consider in determining the effectiveness of test marketing:

			1. The cost and risk of product failure must be weighed against the profit and probability of success.

	1. The cost and risk of product failure must be weighed against the profit and probability of success.

	2. The difference in scale of the investment involved in the test pathway versus the national launch has a significant impact on the decision to test or not. For the products we launched directly into the domestic market, there was very little difference in manufacturing investment depending on whether we opted for a test or a domestic launch. On the one hand, when the factory investment for a national launch is significant, but only slight for a test market, the investment risk favors the test launch approach.		2. The difference in scale of the investment involved in the test pathway versus the national launch has a significant impact on the decision to test or not. For the products we launched directly into the domestic market, there was very little difference in manufacturing investment depending on whether we opted for a test or a domestic launch. On the one hand, when the factory investment for a national launch is significant, but only slight for a test market, the investment risk favors the test launch approach.
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	On the other hand, there are ways to minimize the main negative points of the package, and either correct them if possible, or abandon the project before embarking on the costly adventure of test marketing. Here are the steps we follow:		On the other hand, there are ways to minimize the main negative points of the package, and either correct them if possible, or abandon the project before embarking on the costly adventure of test marketing. Here are the steps we follow:

	- Select a sample of respondents based on their assumed buying habits.		* Select a sample of respondents based on their assumed buying habits.
			* Show respondents the planned launch advertisement for the new product and get their feedback.
	- Show respondents the planned launch advertisement for the new product and get their feedback.		* Show respondents the product and get their reactions before the trial.
			* Give respondents five samples of the product to test in their homes.
	- Show respondents the product and get their reactions before the trial.		* Conduct an in-home interview to determine respondents' opinions of the product after the trial, their recollection of the advertisement, and their anticipated purchase frequency.

	- Give respondents five samples of the product to test in their homes.

	- Conduct an in-home interview to determine respondents' opinions of the product after the trial, their recollection of the advertisement, and their anticipated purchase frequency.

	- In addition to these steps, another useful research tool can help further reduce uncertainty: the model test market. This is a research step between pre-test research and a full test market. Model test markets simulate the appropriate market to reduce both the time and expense of properly evaluating a full test market.		In addition to these steps, another useful research tool can help further reduce uncertainty: the model test market. This is a research step between pre-test research and a full test market. Model test markets simulate the appropriate market to reduce both the time and expense of properly evaluating a full test market.

	= Commercialization [https://en.wikipedia.org/wiki/Commercialization (Commercialization)] =		= Commercialization [https://en.wikipedia.org/wiki/Commercialization (Commercialization)] =
	<div>Commercialization or marketing is the process of introducing a new product or production method into commerce - making it available in the marketplace. This term refers to the definitive entry into the mass market (as opposed to entry into earlier niche markets), but it also refers to the transition from the laboratory to commerce (even if limited). Many technologies are born in a research and development lab or in an inventor's workshop and may not be practical for commercial use in their early stages (as prototypes).</div><div><br></div><div>The "development" segment of the "research and development" spectrum requires time and money, as systems are designed with the goal of making the product or method a paying commercial proposition. New product launch is the final stage of new product development - at this point, advertising, sales promotion, and other marketing efforts encourage commercial adoption of the product or method. Beyond commercialization (where technologies enter the business world) may be consumerization (where they become consumer goods, as when computers moved from the lab to the enterprise to the home, pocket, or body).</div>		<div>Commercialization or marketing is the process of introducing a new product or production method into commerce - making it available in the marketplace. This term refers to the definitive entry into the mass market (as opposed to entry into earlier niche markets), but it also refers to the transition from the laboratory to commerce (even if limited). Many technologies are born in a research and development lab or in an inventor's workshop and may not be practical for commercial use in their early stages (as prototypes).</div><div><br></div><div>The "development" segment of the "research and development" spectrum requires time and money, as systems are designed with the goal of making the product or method a paying commercial proposition. New product launch is the final stage of new product development - at this point, advertising, sales promotion, and other marketing efforts encourage commercial adoption of the product or method. Beyond commercialization (where technologies enter the business world) may be consumerization (where they become consumer goods, as when computers moved from the lab to the enterprise to the home, pocket, or body).</div>

Anne Payen at 16:25, 4 March 2022

2022-03-04T16:25:58Z

← Older revision		Revision as of 18:25, 4 March 2022
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	1. The cost and risk of product failure must be weighed against the profit and probability of success.		1. The cost and risk of product failure must be weighed against the profit and probability of success.

			2. The difference in scale of the investment involved in the test pathway versus the national launch has a significant impact on the decision to test or not. For the products we launched directly into the domestic market, there was very little difference in manufacturing investment depending on whether we opted for a test or a domestic launch. On the one hand, when the factory investment for a national launch is significant, but only slight for a test market, the investment risk favors the test launch approach.

			On the other hand, by limiting a product to the test market area for the considerable period of time needed to accurately predict performance, there may be a high opportunity cost. This opportunity cost can amount to the unrealized revenue and profit of a year's worth of domestic sales, depending on the length of the product's test period.

			3. Another factor to consider is the likelihood and speed with which competitors will copy your product and take over part of your domestic market or foreign markets, if the test is successful. Competitors will monitor your test market and, if they have the technology, they will develop their own versions of your product and market them if you give them the opportunity.

	2. ~~The difference in scale of~~ the investment ~~involved~~ in the ~~test pathway versus~~ the ~~national~~ launch ~~has~~ a significant ~~impact~~ on the ~~decision~~ to ~~test or not. For~~ the products ~~we launched directly into the domestic market~~, there ~~was very little difference in manufacturing investment depending~~ on ~~whether we opted for a test or a domestic launch~~. On the ~~one~~ hand, ~~when~~ the ~~factory investment for a national launch is significant~~, ~~but only slight for a test market~~, the ~~investment risk favors~~ the test ~~launch approach~~.		4. In addition to the investment in plant and machinery, any new product launch is accompanied by a marketing investment that varies with the size of the launch. Launching a new product requires significant advertising and promotional expenditures; it requires time, attention, and effort on the part of the sales force; and it requires shelf space in wholesale and retail stores, which is sometimes obtained only at the expense of space already given to the company's existing products.

			In addition, if a new product fails, there are costs to rebate and reclaim unwanted inventory from customers, as well as costs to write off unwanted and unusable materials and packaging. Management must also consider the potential damage that a new product failure may inflict on the company.

			On the other hand, there are ways to minimize the main negative points of the package, and either correct them if possible, or abandon the project before embarking on the costly adventure of test marketing. Here are the steps we follow:

	~~On the other hand, by limiting~~ a ~~product to the test market area for the considerable period~~ of time needed to accurately predict performance, there may be a high opportunity cost. This opportunity cost can amount to the unrealized revenue and profit of a year's worth of domestic sales, depending on ~~the length of the product's test period~~.		- Select a sample of respondents based on their assumed buying habits.

			- Show respondents the planned launch advertisement for the new product and get their feedback.

			- Show respondents the product and get their reactions before the trial.

	~~3. Another factor to consider is~~ the ~~likelihood and speed with which competitors will copy your~~ product ~~and take over part of your domestic market or foreign markets, if the test is successful. Competitors will monitor your~~ test ~~market and, if they have the technology, they will develop~~ their ~~own versions of your product and market them if you give them the opportunity~~.		- Give respondents five samples of the product to test in their homes.

	~~4. In addition~~ to the ~~investment in plant and machinery, any new~~ product ~~launch is accompanied by a marketing investment that varies with~~ the ~~size~~ of the ~~launch. Launching a new product requires significant advertising and promotional expenditures; it requires time~~, ~~attention, and effort on the part of the sales force; and it requires shelf space in wholesale~~ and ~~retail stores, which is sometimes obtained only at the expense of space already given to the company's existing products~~.		- Conduct an in-home interview to determine respondents' opinions of the product after the trial, their recollection of the advertisement, and their anticipated purchase frequency.

	In addition, if a ~~new product fails, there are costs to rebate~~ and ~~reclaim unwanted inventory from customers, as well as costs~~ to ~~write off unwanted~~ and ~~unusable materials and packaging. Management must also consider the potential damage that~~ a ~~new product failure may inflict on the company~~.		- In addition to these steps, another useful research tool can help further reduce uncertainty: the model test market. This is a research step between pre-test research and a full test market. Model test markets simulate the appropriate market to reduce both the time and expense of properly evaluating a full test market.

	= Commercialization [https://en.wikipedia.org/wiki/Commercialization (Commercialization)] =		= Commercialization [https://en.wikipedia.org/wiki/Commercialization (Commercialization)] =
	<div>Commercialization or marketing is the process of introducing a new product or production method into commerce - making it available in the marketplace. This term refers to the definitive entry into the mass market (as opposed to entry into earlier niche markets), but it also refers to the transition from the laboratory to commerce (even if limited). Many technologies are born in a research and development lab or in an inventor's workshop and may not be practical for commercial use in their early stages (as prototypes).</div><div><br></div><div>The "development" segment of the "research and development" spectrum requires time and money, as systems are designed with the goal of making the product or method a paying commercial proposition. New product launch is the final stage of new product development - at this point, advertising, sales promotion, and other marketing efforts encourage commercial adoption of the product or method. Beyond commercialization (where technologies enter the business world) may be consumerization (where they become consumer goods, as when computers moved from the lab to the enterprise to the home, pocket, or body).</div>		<div>Commercialization or marketing is the process of introducing a new product or production method into commerce - making it available in the marketplace. This term refers to the definitive entry into the mass market (as opposed to entry into earlier niche markets), but it also refers to the transition from the laboratory to commerce (even if limited). Many technologies are born in a research and development lab or in an inventor's workshop and may not be practical for commercial use in their early stages (as prototypes).</div><div><br></div><div>The "development" segment of the "research and development" spectrum requires time and money, as systems are designed with the goal of making the product or method a paying commercial proposition. New product launch is the final stage of new product development - at this point, advertising, sales promotion, and other marketing efforts encourage commercial adoption of the product or method. Beyond commercialization (where technologies enter the business world) may be consumerization (where they become consumer goods, as when computers moved from the lab to the enterprise to the home, pocket, or body).</div>