Ch 8_NEW! Mini Sim_New Product Development 2023
Questions and Answers 2023
The R-W-W Framework is used to screen new products. R-W-W stands for:
Is it Real?
Can we Win?
Is it Worth doing?
R: Is it Real?
-Research shoes that 85% of high school students enjoyed playing the new game.
-The results of the last market survey showed only 35% of consumers were interested
in the new product.
W: Can we win?
-A smaller ergonomic mouse was used by 57% of data entry clerks who participated in
the survey.
-To manufacture the new product, the company may need to hire 10 more assemblers.
W: Is it worth doing?
-The new product would cost $12.50 to manufacture, and similar products sell for $9.00.
Based on the marketing research findings, which of the three products positively
answered all three R-W-W framework questions?
-Anti-aging cream
Based on this desire, the team has come up with three product concepts for the
anti-aging cream. Before you decide on a concept, they want to do product
testing, which is the next phase in the product development process. The team
has decided that focus groups with potential customers that fit the three different
concepts will be conducted for product testing. Choose the product concept that
you think will test the best.
-Mid-tier product
This product received glowing reviews from all three men and five of the women.
The other two women felt that they would be more drawn to a product with a nice
scent.
Based on this feedback, what is the next step to move this product forward?
-Begin marketing strategy development
The client is a cosmetics company that has been in business for five years and
has distribution relationships with several large department stores. The company
wants to increase overall company market share by 10% with this product within
the next two years.
Questions and Answers 2023
The R-W-W Framework is used to screen new products. R-W-W stands for:
Is it Real?
Can we Win?
Is it Worth doing?
R: Is it Real?
-Research shoes that 85% of high school students enjoyed playing the new game.
-The results of the last market survey showed only 35% of consumers were interested
in the new product.
W: Can we win?
-A smaller ergonomic mouse was used by 57% of data entry clerks who participated in
the survey.
-To manufacture the new product, the company may need to hire 10 more assemblers.
W: Is it worth doing?
-The new product would cost $12.50 to manufacture, and similar products sell for $9.00.
Based on the marketing research findings, which of the three products positively
answered all three R-W-W framework questions?
-Anti-aging cream
Based on this desire, the team has come up with three product concepts for the
anti-aging cream. Before you decide on a concept, they want to do product
testing, which is the next phase in the product development process. The team
has decided that focus groups with potential customers that fit the three different
concepts will be conducted for product testing. Choose the product concept that
you think will test the best.
-Mid-tier product
This product received glowing reviews from all three men and five of the women.
The other two women felt that they would be more drawn to a product with a nice
scent.
Based on this feedback, what is the next step to move this product forward?
-Begin marketing strategy development
The client is a cosmetics company that has been in business for five years and
has distribution relationships with several large department stores. The company
wants to increase overall company market share by 10% with this product within
the next two years.
