MKT 571 WEEK 3

MKT 571 WEEK 3 IDENTIFY THE STEPS OF PRODUCT DEVELOPMENT

MKT 571 Week 3 Identify the steps of product development,

• Example: Swazzi,Inc. Brand introduces a Spring Line of premium-priced women clothing.

http://hwacer.com/Tutorial/mkt-571-week-3-identify-the-steps-of-product-development/

1.Idea screening narrows down all ideas into one big picture; use sequencing steps to develop product line

2.a "real, win, worth it" (R-W-W) framework : Real need/want for product? Win over customer’s (competitive advantage)? Worth calculated in profit margin (growth strategy)

• "Back to Carnaby Street" retro line inspired by the mod clothing of 1960s London
• Target market: 27-42 demographic, and especially in the upper incomes
• Swazzi expects a rate of return (e.g. profit margin) between 35% and 45%

2.Simulation options