Answer to Question #302755 in Marketing for Mohd Danish

Question

Idea Screening:

How will you get to screen and test your idea?

What are the resources you may need?

Answer 1

Following idea (or concept) generation, idea screening is the next step in the new product development process. It is based on data from experience and market research and often involves the use of scoring models, checklists, or personal assessments. The company's objective, market trends, and the product's potential return on investment are all factors to consider. Screening also necessitates making judgements about the company's ability to manufacture the item and market it effectively. It concludes with instructions to assist technical staff in developing concepts.New product concepts, such as the ones listed above, must be tested with target consumer groups. Consumers can be shown the concepts either symbolically or literally. The question is always whether a specific concept will appeal to a large number of people. A word or visual description may suffice for some concept tests. However, a more solid and physical presentation of the product concept may be required to improve the test's dependability. After introducing the concept to a group of target consumers, they will be asked to respond to questions in order to determine the concept's consumer appeal and customer value.You should have a good sense of which product concept is the best based on client input at the end of the concept testing stage. In some circumstances, numerous concepts may appear to function well together. Two separate versions, for example, may appeal to two different sub-target groups. The corporation may opt to pursue both product concepts if each target group has a sufficiently large and relevant target market.Financial, personal, educational, emotional, and physical resources are all required to begin a project.