Concept and Development Testing

The Business of Sport: W11007742

Stage: Concept Development and Testing

Word count: 497

Concept development is the third stage of the new product development; it is journey of the product before the finished product is available for buy. The concept development is used to test the success of the product, including different designs such as the physical appearance and different materials. (Armstrong, Kotler, Harker & Brennan 2009) The concept development process measures the consumer’s enthusiasm to a picture or written statement that’s been created about the product. (Lamb, Hair & McDaniel, 2008) It is essential the process adapts to the concepts in order for the manufacturing of the product to begin.

The ‘Deep Heat Bandage Support’ is currently in the concept development process. A visual portfolio should be created in order to show consumers the bandage appearance, how the bandage can be used and how it will benefit the customer. The benefits of the bandage are; it will be affordable. It will be reusable as the bandage generates menthol heat through exothermic crystallisation of supersaturated solutions. The bandage will be water-resistant therefore suitable for all athletes in all weather conditions. It benefits the consumer as it includes a heat menthol sensation providing adequate support, preventing further damage to the injury.

The concept development will be based on the material of the bandage whether it is made out of, Neoprene, Physicool, TubiGrip. Neoprene can be made water resistant therefore reusable whilst providing flexibility, resulting in the best possible comfort for the customer.

The concepts are then tested with potential customers; this is identified as concept testing. (Armstrong et al 2009) The customer’s reactions/responses help identify which concepts to develop further. The customer will be asked several questions about the product such as; did you understand the concept of the product? Did the bandage support your injury? Would you buy the product? (Armstrong et al 2009) By asking these questions the customers’ needs can be met, helping the product break into the correct market and reach its potential target audience.

Before the prototype is created there are still a number of questions to consider. For example;

Is there a gap in the market place? Yes, there is currently no evidence of an existing menthol heated support bandage in the market.

What is the perceived value? No more than £15. However, this will depend on the size of the bandage for example a knee support will be more costly than ankle support as it uses more materials.

Who is the target market? All athletes of all ages with injuries, however the product can also be aimed at non-athletes to widen the target market

Concept development and testing is used by organisations in the sport industry. FIFA used concept testing to evaluate the extent to see if footballs are in the exact same condition from the first to the last minute in a football game, testing was done under laboratory conditions (FIFA 2012).

The concept development and testing process outlines the best possible product, resulting in potentially being a profitable product in the market.

References:

Armstrong, G., Kotler, P., Harker, M & Brennan, R (2009). Marketing an introduction, Pearson Education Limited: Essex

FIFA (2012) FIFA QUALITY CONCEPT FOR FOOTBALLS. Available at: http://footballs.fifa.com/Quality-Concept (Accessed 23rd November 2012)

McDaniel, C & Lamb, C & Hair, J (2008). Introduction to marketing. London: Thomson Learning . p280-298.

11007742 - Assignment 2a - Idea Screening

The Business of Sport: W11007742

Stage: Idea Screening

Word count: 550

 

Developing new products that do well in the marketplace is a difficult task that requires company funds and dedicated resources. In order to establish a good idea, many ideas are passed through the first filter in the product development process.  This stage is identified as idea screening.

Idea screening process involves shifting through ideas previously generated, examining the strength of the products, eliminating ideas that are inconsistent with the organisations new product strategy or inappropriate for other reasons. (McDaniel & Lamb & Hair, 2008) This enables companies to focus attention to more highly successful product ideas as pursuing non feasible ideas can be costly for organisations. Screening a new sports product idea involves answering important questions about the idea. The questions help determine the potential market for the product, how competitors will react to this new product, cost, quality, customer demand etc. (Armstrong & Kotler, 2009)

A screening checklist is essential during the Idea Screening stage; it identifies the general characteristics of new products. Some of these characteristic include; potential profit, size of target market, competitors and the level of risk. (Armstrong & Kotler, 2009)  When analysing the new product the Decision Matrix can be used by sports organisations. This evaluates, compares product ideas. Each product is given a score on an established rating scale depending upon the established criteria in which the product is judged. The product rating is then multiplied by the weighed criteria and the points are added. (Armstrong & Kotler, 2009)  
The product with the highest score may not necessarily be the chosen product; however it can help aid in the discussions which determines whether the product is going to be developed further. An example of a Decision Matrix is show in appendix A and B.

Research on new ideas previously generated shows the product, ‘Waterproof Socks.’ already exists the market, founded by ‘Sealskins.’ The customer demand for new waterproof socks would be low as SealSkins already sell a range of waterproof socks which are well manufactured, and satisfying to customers therefore no already meets the criteria, no further development can be made to the product. 

However there is currently no existing market for ‘Deep Heat Compression Bandage’. Research has shown Deep Heat and support bandages currently exist in the market as separate products, and there are similar products such as ‘Deep Heat Pads’ and area well known, and  popular amongst a wide range of customers. However there is no evidence of the two products combined, leaving a gap in the market for product resulting in no direct competitors.

The product would be beneficial and appealing to athletes, and others who suffer from muscular aches, sprains, and strains, resulting in a large target audience. The product is designed to protect and support, effectively relieving muscle pain, supporting the injury to which it is applied, without having to apply the cream/spray and the bandage separately.  It would be technically feasible to manufacture at a cheap cost, just a case of combining and developing the two existing products. The product would be affordable for customers and it would not date, meaning there is always a place in the market for it. It would satisfy customers in terms of quality, reliability and durability, not forgetting it would be convenient as it eliminates having to constantly apply the deep heat.

 

Appendices

Appendices A – Example of A Bike Decision

 

 



Appendix B – Example of a Decision Matrix Layout

References:

Kotler, P & Armstrong,G. (2012). New Product Development. In: Eric Svendsen Principles of Marketing. 14th ed. England: Pearson Education Limited. p282-290

McDaniel, C & Lamb, C & Hair, J (2008). Introduction to marketing. London: Thomson Learning . p280-298.

Nancy, R. (2004). Decision Matrix . Available: http://asq.org/learn-about-quality/decision-making-tools/overview/decision-matrix.html. Last accessed 19th November 2012.

NZIFST . (2010). PRODUCT IDEAS SCREENING. Available: http://www.nzifst.org.nz/creatingnewfoods/idea_generation6.htm. Last accessed 19th November 2012

11007742 - Assignment 2a: Idea Screening

The Business of Sport: W11007742

Stage: Idea Screening

Word count: 550

 

Developing new products that do well in the marketplace is a difficult task that requires company funds and dedicated resources. In order to establish a good idea, many ideas are passed through the first filter in the product development process.  This stage is identified as idea screening.

Idea screening process involves shifting through ideas previously generated, examining the strength of the products, eliminating ideas that are inconsistent with the organisations new product strategy or inappropriate for other reasons. (McDaniel & Lamb & Hair, 2008) This enables companies to focus attention to more highly successful product ideas as pursuing non feasible ideas can be costly for organisations. Screening a new sports product idea involves answering important questions about the idea. The questions help determine the potential market for the product, how competitors will react to this new product, cost, quality, customer demand etc. (Armstrong & Kotler, 2009)

A screening checklist is essential during the Idea Screening stage; it identifies the general characteristics of new products. Some of these characteristic include; potential profit, size of target market, competitors and the level of risk. (Armstrong & Kotler, 2009)  When analysing the new product the Decision Matrix can be used by sports organisations. This evaluates, compares product ideas. Each product is given a score on an established rating scale depending upon the established criteria in which the product is judged. The product rating is then multiplied by the weighed criteria and the points are added. (Armstrong & Kotler, 2009)  
The product with the highest score may not necessarily be the chosen product; however it can help aid in the discussions which determines whether the product is going to be developed further. An example of a Decision Matrix is show in appendix A and B.

Research on new ideas previously generated shows the product, ‘Waterproof Socks.’ already exists the market, founded by ‘Sealskins.’ The customer demand for new waterproof socks would be low as SealSkins already sell a range of waterproof socks which are well manufactured, and satisfying to customers therefore no already meets the criteria, no further development can be made to the product. 

However there is currently no existing market for ‘Deep Heat Compression Bandage’. Research has shown Deep Heat and support bandages currently exist in the market as separate products, and there are similar products such as ‘Deep Heat Pads’ and area well known, and  popular amongst a wide range of customers. However there is no evidence of the two products combined, leaving a gap in the market for product resulting in no direct competitors.

The product would be beneficial and appealing to athletes, and others who suffer from muscular aches, sprains, and strains, resulting in a large target audience. The product is designed to protect and support, effectively relieving muscle pain, supporting the injury to which it is applied, without having to apply the cream/spray and the bandage separately.  It would be technically feasible to manufacture at a cheap cost, just a case of combining and developing the two existing products. The product would be affordable for customers and it would not date, meaning there is always a place in the market for it. It would satisfy customers in terms of quality, reliability and durability, not forgetting it would be convenient as it eliminates the process of constantly applying Deep Heat.

 

Appendices

Appendix A – Example of A Bike Decision

 

 

 

Appendix B – Example of a Decision Matrix Layout

 

References:

Kotler, P & Armstrong,G. (2012). New Product Development. In: Eric Svendsen Principles of Marketing. 14th ed. England: Pearson Education Limited. p282-290

McDaniel, C & Lamb, C & Hair, J (2008). Introduction to marketing. London: Thomson Learning . p280-298.

Nancy, R. (2004). Decision Matrix . Available: http://asq.org/learn-about-quality/decision-making-tools/overview/decision-matrix.html. Last accessed 19th November 2012.

NZIFST . (2010). PRODUCT IDEAS SCREENING. Available: http://www.nzifst.org.nz/creatingnewfoods/idea_generation6.htm. Last accessed 19th November 2012