Concept Development & Testing - Blog 3

Concept Development & Testing - Blog 3

Concept Development and Testing is the third stage in the new product development cycle. This stage is when companies test their new ideas, either products or services, before any prototype has been created. (Lamb,Hair,McDaniel, 2009).  The product or service concept development is a detailed description of the idea, in words easy to understand for the target market, to get that stage slight changes and altercations may be made to enhance the product or service. Whereas concept testing involves putting the developed concept idea to the target market and recording their response (Armstrong, Kotler, Harker, Brennan, 2009). Companies use the feedback they get from the target market to help aid the decision on which product or service they are going to continue developing. (Peng & Finn 2008).During concept testing companies often ask their target market questions such as, what is their perceived value of the concept? Meaning how much do they think it is worth to them, how much they would pay for it. Also questions like the typical purchasing frequency they could expect for their product?

Concept development and testing is happening right now in companies, for example FIFA tested their world cup ball with over 600 professional players and 30 teams in ten countries across three continents before the world cup in 2014. All of the balls FIFA produce are certified with a FIFA quality mark, this quality mark indicates to consumers that the ball is of top quality. (Quality.fifa.com, 2014)

Another sporting example of companies testing their products is Lycra Sport; Every Lycra Sport fabric style is tested to meet demanding standards for elongation, fit and recovery power. Lycra have created a graph to see record the results of their testing and only those products that fall within the desired results region of the graph are given the greenlight to continue with development. (Lycra.com, 2014) (See Graph - Appendix A) 

When I have developed my concept, Archball, I would test the concept by offering the idea to my target market. My target market is boys and girls aged between 13-21, I would ask my target market if the sport is easy to understand? I would also ask them if they would pay to play the sport with their money? How often they could see themselves playing the sport? Would they replace the sport they play now with my new sport concept? And reasons why they would or wouldn’t, and I would also ask them for any suggestions they think they will enhance the sport as a commercial business.

 

 

 

Appendix

 

A.

Refrences

Lamb, C., Hair, J. and McDaniel, C. (2009). Essentials of Marketing. 6th ed. Cengage Learning.

 

Lycra.com, (2014). LYCRA® SPORT fabric. [online] Available at: http://www.lycra.com/g_en/webpage.aspx?id=963 [Accessed 23 Nov. 2014].

 

Peng, L & Finn, A (2008). ‘Concept testing: the state of contemporary practice’, Marketing intelligence and planning. 26:6, pp. 649-674. Available at: http://www.emeraldinsight.com/journals.htm?articleid=1747079&show=abstract (Accessed: 23/11/2014).​

 

Quality.fifa.com, (2014). adidas brazuca – tried and tested - FIFA Quality Programme. [online] Available at: http://quality.fifa.com/en/Footballs/Football-facts/adidas-brazuca--tried-and-tested/ [Accessed 23 Nov. 2014].

 

 

 

Idea Screening - Blog 2

Idea Screening 

The first part of this blog is going to discus and define the concept of the term Idea Screening, the second part will go on to show how I have screened my ideas and what tools were used.

According to Law, 2009 idea screening is the process of “screening new-product ideas in order to identify and develop good ideas and drop poor ones as soon as possible”. McDaniel, Lamb and Hair, 2011 describe the process as a way to eliminate ideas that have been proposed by discarding ideas that don’t fit the organisations aims and goals. Whereas Kotler and Armstrong, 2012 suggest that Idea screening is only a basic filtering process but ensures large costs are avoided.

These definitions suggest that the process of idea screening is to filter out the ideas that don’t have the potential to work, the stage is important in the new product development process because it helps companies save lots of resources, most importantly time and money. If the company can cut down the number of ideas and focus all their resources and efforts into one idea it is more likely to be successful than if they try to split their resources of a number of ideas.

To screen ideas companies often set a range of criteria questions and score each idea in relation to the how they meet the criteria. These questions can be anything from, cost of production for the company? Size of the target market? Is it technically feasible to manufacture / provide?

These results can be easily compared and calculated using a decision making matrix, this helps to rank ideas clearly and helps to indicate the better business idea over the idea that people may favour originally as you can weight each criteria on what’s most important to the company. 

This video link shows how to make a decision making matrix on Excel https://www.youtube.com/watch?v=cy4cX34U87Y

I used this tool to help me decide on which idea I should chose and follow through with. I used the Criteria of cost to provide the service, Patentability of the new sport concept, Profit potential of the sport, the health and safety risk of playing the sport and the accessibility to the public. As you can see in Appendix (A) each category has been weighted between 1 and 3 which helps indicate the importance of each category score. Each idea is then scored 1-100 in each category and the matrix creates a weighted score and ranks the ideas highest to lowest.

The matrix has indicated to me that my Archball Idea is the best idea I have come up with and that it should be the most commercially successful out of the three.

Appendix

A

References

·       Kotler, P. and Armstrong, G. (2012) Principles of Marketing 14th Editionn. London: Pearson Education.

·       Mcdaniel, C.D. Lamb, C.W. and Hair J.F. (2011) Introduction to Marketing 11th Edition. Ohio: South-Western Cengage Learning.

·       Law , J (2009) A Dictionary of Business and Management 5^th Edition, Oxford :Oxford University Press