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Industrial Marketing Research PHASE 2 1) What atomic number 18 the strategy components of the NPD New crop study ch 7 * The expected bearing cycle of the crossway ( 2 years 5 years ) in front we develop it or 10 years. e. g. Peugot 504 Model 1968 was expected to stay in the market undeveloped for 5 years, it stayed for 17 years and there is unruffled demand which affected the demand of other Peugot Models * How be you going to nuzzle the market? * Why are people going to accept your product? Attributes of new products which affect their acceptability Relative advantage the perception that the conception is better than the one it supercedes * Compatibility. Consistency with existing values, past experience, and needs of a firms buyers and influencers * Complexity more complex ideas are espouse more slowly. * Trialability if a firm can try out a small aspect for a new idea it exit be accepted more quickly than a firm has to make a major switch * Observability if the effec ts of an innovation can be good observed this innovation maybe adopted more quickly. NPD Process chance identification and selection where new product opportunities are identified and selected. * purpose generation explore with customers and preliminary analysis take place. * Concept valuation careful review of new product concepts on proficient, marketing and pecuniary variables. Choose the most promising concepts to move forward to the next phase. * Development both technical and marketing development takes place. Prototypes are designed and tried and true and the production pro * Launch how are you going to launch this product and for which prospects? ) Description of utilitys offered ( tenuous Services/ Pure tangible goods) as whole any(prenominal) as pricing strategies of services. Ch 8 Combinations of service and physical product * Pure tangible good products no service * Tangible good with ensuant services this is a tangible product with services added, highly tech nical products usually are more dependent upon services such as planning, installation, training, and maintenance. * Hybrid equal offering of goods and services, so the service portion of the offering is equal importance to the tangible product offering * Major service with supporting goods and services.The most important part is the service but some goods and supporting services are required e,g, business travellers on crease line they need food. * Pure service the offering is primarily a service, such as consulting or advertising, very little tangible goods are required. * Phase 2 is an application of chapter 7 & 8 * Each segment of the group should participate * A presentation is required next calendar week in the tutorial * All members of the group should be present * You provide be graded individually upon your presentation not how correct your research is * We will explain in the tutorial this week how this phase will be done.