MARKET 1 Lecture 20: Market_1_-_lecture_20
Document Summary
Generate quantity not worry about the quality. No idea can be immediately accepted or rejected. As much as 85% of new business to business product ideas come from customers. Lead users modify existing products according to their own specific needs: nike: modifying a shoe that was specific to running, lead users can be a group of users that use something to an extreme oil companies. Customers reactions determine whether or not it goes forwards. Alpha testing: testing within your company: disadvantage: subjective and internal, may not get a broad perspective. Beta testing: releasing data versions to the outside public. Premarket tests: customers exposed, customers surveyed, firm makes decisions. Test marketing: mini product launch, more expensive than premarket tests, market demand is estimated, depending on the context, where you test can be very important High tech: very important to get rid of bad ideas early.
