Concept Definition efine Requirements evelop Project Charter "evelop Business Case "evelop Strategy Concept Validation Full Scale Development (FSD) Confirm Technical Feasibility Develop Prototype Develop Detailed Project Plan for FSD Perform Competition Analysis Perform Market Analysis Test Prototype System Test Prepare Detailed Project Plan for Production Update Market analysis and business plan Production and Commercialization Install Production Process Produce Initial production lot Deploy sales and support team ble 1: Notional Product Development Life Cycle insider the notional Product Development Life Cycle depicted in Table 1 above. Which of the following results is most likely to influence a decision to proceed into P a. A business case that demonstrates strong potential revenue from the sale of the product. b. Successful completion of production process installation. c. A competition analysis that demonstrates a clear leadership position in this segment. Od. Successful system test results.
Concept Definition efine Requirements evelop Project Charter "evelop Business Case "evelop Strategy Concept Validation Full Scale Development (FSD) Confirm Technical Feasibility Develop Prototype Develop Detailed Project Plan for FSD Perform Competition Analysis Perform Market Analysis Test Prototype System Test Prepare Detailed Project Plan for Production Update Market analysis and business plan Production and Commercialization Install Production Process Produce Initial production lot Deploy sales and support team ble 1: Notional Product Development Life Cycle insider the notional Product Development Life Cycle depicted in Table 1 above. Which of the following results is most likely to influence a decision to proceed into P a. A business case that demonstrates strong potential revenue from the sale of the product. b. Successful completion of production process installation. c. A competition analysis that demonstrates a clear leadership position in this segment. Od. Successful system test results.
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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Transcribed Image Text:## Notional Product Development Life Cycle
### Stages and Key Activities
**1. Concept Definition**
- **Define Requirements**
- **Develop Project Charter**
- **Develop Business Case**
- **Develop Strategy**
**2. Concept Validation**
- **Confirm Technical Feasibility**
- **Develop Detailed Project Plan for FSD (Full Scale Development)**
- **Perform Competition Analysis**
- **Perform Market Analysis**
**3. Full Scale Development (FSD)**
- **Develop Prototype**
- **Test Prototype**
- **System Test**
- **Prepare Detailed Project Plan for Production**
- **Update Market Analysis and Business Plan**
**4. Production and Commercialization**
- **Install Production Process**
- **Produce Initial Production Lot**
- **Deploy Sales and Support Team**
### Decision Point
**Table 1: Notional Product Development Life Cycle**
This table outlines the various stages of the product development life cycle, from initial concept definition through production and commercialization.
#### Key Decision-Making Criteria
An important decision point is to determine which results are most likely to influence a decision to proceed into Production and Commercialization. Consider the following options:
a. A business case that demonstrates strong potential revenue from the sale of the product.
b. Successful completion of production process installation.
c. A competition analysis that demonstrates a clear leadership position in this segment.
d. Successful system test results.
### Correct Answer:
- **b. Successful completion of production process installation.**
This criteria is essential as it signifies that the product can be reliably produced on a larger scale, which is crucial before committing significant resources to full production and commercialization.
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