The stages in planning a product except
The stages in planning a product except
Formulating the results of marketing research
Taking into account the capabilities of the company’s facilities
Making working drawings
Create a work project
Make a financing plan
On the Question, the answer is D ‘create a working project’
Can you understand the question? Why is ‘making a working project’ not included in the series of stages of planning a product? In this article edu will explain about this question.
So what are the stages in planning the product? To understand this, please see the following article.
Product Planning Stages
There are 6 stages in planning a product, namely:
The strategy formulation process begins with an analysis of the situation. Situation analysis is the process of adjusting strategy to all opportunities and threats, both from within and outside the company.
In the previous question, option B, namely ‘Considering the capabilities of the company’s facilities’ is included in the situation analysis stage, which is included in the process of analyzing the company’s internal opportunities.
Determining Product Creation Goals
Before forming a product manufacturing strategy, the company must first determine what their goals are in creating a product.
Apart from that the product can be received by consumers in accordance with their expectations, another goal of product creation is to achieve the company’s main target, namely profit.
So the company must consider carefully, whether the product will generate enough profit in accordance with the company’s target or not.
Determining the Target Market
The word ‘market’ in this sentence is not a market for buying and selling, but a group of people who are buyers, in the sense of the word consumers.
Determining target consumers is a step that companies must take before determining their products.
Because the company is not likely to create a product that can satisfy everyone, so it must narrow its target customers to be more efficient and can satisfy the target group.
By focusing on one group or one market segmentation, the company will be able to study the needs and wants of that group and create products of the appropriate quality.
Setting a Budget
The company’s ability to finance a production process will determine the planning of a product.
The company must know its capabilities and manufacture products accordingly. So the company will not experience financial difficulties.
Preparing for all possibilities in terms of production financing, and making budgeting plans is very important for companies. So that the production process remains on track and does not waste funds.
In the previous question, option E, namely ‘Making a financing plan’ is part of the budget determination stage.
The strategy that the company makes is a series of ideas that are collected and become a number of steps that the company will carry out in making the product.
The strategy creation process is the result of the data analysis that the company initially did. So this strategy is a formulation of the results of market research (which in the previous question was option A, namely ‘Formulating the results of marketing research’)
Then the company will make a number of strategies and analyze all the advantages and disadvantages.
Then choose which strategy is the best, possible and profitable for the company. So that a series of job descriptions is formed. In the previous question, option C is ‘Create a working drawing’
The final stage that is always present in every stage in the marketing field is evaluating the strategy that has been running.
Is the strategy feasible to maintain, does the company have to make adjustments, or even change it before finally starting the production process of a product.
Friend, that’s the reason for the stages in planning a product except D. making a work project, because options A, B, C, and E are part of the planning stages of a product. Hopefully useful, thank you so much.