New Product Analysis of Alternatives Exercise
In this module, you focus on the concept and principles of learning rates and customer value determination. In this assignment, you will be able to practice and develop your analysis of an alternative skill set. This activity will allow you to explore new product selection using data. You will have to decide which data should drive your decision and be able to support/justify your choice.
This activity addresses the following Module Outcome:
- Analyze customer value curves and purchase intent surveys to forecast sales for a variety of new products and recommend the best option for a business to pursue.(CO#1)
Utilizing the Exercise Data MS Excel File [XLSX, file size 18.2 KB], answer the following questions: .
- Calculate the Purchase Probability for each of the four phone options (A through D), utilizing the data from the worksheet “Purchase Intent Survey,” located within the Exercise MS Excel file. Record your data in the worksheet. Each problem should be its own worksheet.
- Utilizing the data from the worksheet “Purchase Intent Survey,” located within the Exercise MS Excel file, select which phone your company should produce (you can only produce one because of manufacturing costs). Justify your answer with a brief explanation.
- If you were able to eliminate the adjustment for Phone B, would this change the phone you would select for production? Why or why not? What is the “Adjustment” factor used for?
- Using the data from Question # 1 and the worksheet “Value Curve,” located within the Exercise MS Excel file, which phone would you recommend for your company to produce? Why? Explain why a value curve and a purchase intent survey should be utilized in conjunction with each other to help determine which product to produce.
Guidelines for Submission: The answers to the questions that require an explanation should be submitted in a Word document. You will need to support all of your answers to the problems with appropriate calculations, which should be submitted in the Excel File (each problem should be its own worksheet). You can label each worksheet based on problem number (i.e. – “M2A3 Problem 1”). You will also need to fill in the “Purchase Intent Survey.” If you need to support your answers to the written questions with relevant resources, cite using APA format.