Mullins and Walker (2010) state that greater attention must be given to new products and one of reasons why so many products fail is because not enough people want to buy them (p. 265). For this reason, there are systems in place to analyze ideas before proceeding to production. As stated in their text, “One result of this attention has been the development of so-called stage-gate systems for managing new poruct development from idea generation to product launch. (Mullins & Walker, 2010, p. 265). In this system, an idea must pass through a series of gates and stages before it is allowed to continue towards market production. “The point is to ‘kill' ideas that lack strategic or market potential early in the process, before significant resources are spent on the ideas, as well as to pave the wa for high-potential ideas so that they not only get to market quickly but also have the ‘right' attributes to enhance their likelihood of market success” (Mullins & Walker, 2010, p. 265). The stage-gate system consists of five gates with five stages, one stage after each gate, as summarized below.
Gate one is where the idea generation and initial screening decisions are made. Here, the essential question get asked, “Does the idea align with the company's mission, does it take advantage of or strengthen it competencies, and are the resources needed to develop and market the product available” (Mullins & Walker, 2010, p. 267)? Basically, does this idea have potential?
Stage one is the preliminary assessment. Given the information from gate one, if the idea has significant potential it is then allowed to pass to gate two.
[...] Review the process for development of new products. Analyze why most new products fail. Respond to at least two of your fellow students' postings Mullins and Walker (2010) state that greater attention must be given to new products and one of reasons why so many products fail is because not enough people want to buy them (p. 265). For this reason, there are systems in place to analyze ideas before proceeding to production. As stated in their text, result of this attention has been the development of so-called stage-gate systems for managing new poruct development from idea generation to product launch. [...]
[...] clear Gate the product must often pass muster in a test market, in companies with budgets large enough to afford this step” (Mullins & Walker p. 270). This will be the best tool to determine the products actual potential in a given market. Stage five is where the product goes into full market production and market launch. Follwoed by a post launch review. In my opinion, this a simple method for bringing good ideas from the drawing table to full market production and launch. [...]
[...] invest new product development it is necessary to ‘kill' weak ideas at Gate because significant resources in marketing research and in product development are likely to be incurred for products that pass this gate” (Mullins & Walker p. 267). From this point on, the idea get scrutinized for applicability and whether or not the idea is worth proceeding to the next step. Stage two is where the detailed investigation happens. After “killing” off weak ideas, and with only strong product ideas at the forefront, only those with positive potential are allowed to pass. [...]
[...] As stated in the text, “During Stage the technological development of the actual product dsign proceeds, and a marketing plan, including a total product/service offering is developed” (Mullins & Walker p. 268). Stage three is the development process. Gate three helps in this manner by providing information that allows the development of the product to happen. Which is then passed onto gate four. Gate four is post development review. The critical decision here is settle on the product's design and particular features” (Mullins & Walker p. [...]
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