Monday, February 10, 2020

Research Essay Example | Topics and Well Written Essays - 2500 words - 5

Research - Essay Example The questionnaire was too long and the length might often influence participants to withdraw from the survey as time is important for everyone. Another flaw associated with the questionnaire was that in answering options, the ‘do not know’ option was not included. This is inappropriate as there might be participants who are unaware of a particular product or service. On the other hand, two good aspect of the questionnaire is that questions were worded very simply; this firstly made it very easy for participants to understand and secondly, the questionnaire encompassed all aspects of the research topic, thereby enabling the researcher to obtain an insight of people’s perceptions about products and services offered by the food chain. Generating idea: The initial step is very crucial as it involves generation of ideologies that are based on SWOT and current market trend analysis. The ideologies take into account various factors such as, return on investment, ROI and widespread distribution cost. (Takeuchi and Nonaka 137-146). During this particular phase, the manager has to ensure that overall new product development process is kept nimble and flexible discretion should be applied over which the activities are to be executed. Screening the idea: In this particular step, the idea is validated. The phase mainly involves elimination of ineffective concepts prior to allocation of resources to them. The individuals responsible for framing the idea should screen the same on the basis of factors such as, benefits associated with the idea that can be provided to the target market, market coverage of the product, expected intensity of competition, sales forecast, feasibility of the product and so on and so forth (Brands, â€Å"8 Step Process Perfects New Product Development†). Concept testing: Concept testing is very different from test marketing. This step involves patent research, designing due diligence

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