We recommend a seven step method for testing product concepts 1 Define the

We recommend a seven step method for testing product

This preview shows page 34 - 39 out of 81 pages.

We recommend a seven-step method for testing product concepts: 1. Define the purpose of the concept test. 2. Choose a survey population. 3. Choose a survey format. 4. Communicate the concept. 5. Measure customer response. 6. Interpret the results. 7. Reflect on the results and the process. References and Bibliography Many current resources are available on the Internet via Crawford and Di Benedetto examine some forecasting models of frequently purchased goods. Crawford, C. Merle, and C. Anthony Di Benedetto, New Products Management. eighth edition, McGraw-Hill, New York, 2005.
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Concept Testing 161 Appendix Estimating Market Sizes Rough estimates of market size can often be made through comparisons with similar products or with knovm sizes of demographic groups. Exhibits 8-11 and 8-12 contain some numbers that may be useful. Population of the World Population of Europe Population of Asia Population of North America Population of South America Population of Africa Population of Oceania Population of the United States Annual births in the United States Adults in the United States age 18-24 Higher-education students in the United States Households in the United States United States households with income >US$50,OOO United States households with income >US$75,OOO United States households with income >US$100,OOO Source: u.s. Government Statistics EXHIBIT 8·11 Approximate population and demographic data as 0[2007.
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162 Chapter 8 Commercial airplane Electronics manufacturing equipment Medical imaging equipment "Cut-and-Sew" fabric product like a backpack Mountain bike Gadgets sold through specialty retailers luxury sedan Hand tool Cordless drill Sport utility vehicle Toys Desktop computers Coffeemaker Mobile telephone Portable music player Single-use medical device (e.g., syringe) Inexpensive ballpoint pens Razor blade cartridge - i I I I I I I I 10 100 1000 10 4 10 7 Volume (units/year) Source: Various EXHIBIT 8-12 Approximate annual sales volume ofmisceUaneous products. These figures represent the volume of a typical single model produced by a single manufacturer.
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CHAPTER FOURTEEN Patents and Intellectual Property EXHIBIT 14·1 Hot beverage insulating sleeve by David W. Coffin Sr. (U.S. Patent 5,205,473). 287
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\ ~flapter 14 David Coffin, an individual inventor, developed a product concept and prototype for an insulating sleeve that would make a hot beverage cup more comfortable to hold (Exhibit 14-1). The product opportunity arose in the 1980s after many food vendors had aban- doned polystyrene foam hot beverage cups in favor of paper cups. The inventor was interested in commercialization and/or licensing his invention and sought protection of the intellectual property that he had created. This chapter provides an overview of intel- lectual property in the context of product development and provides specific guidance for preparing an invention disclosure or provisional patent application.
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