Question
In discussing packaging and why it is important explains why in the idea evaluation stage companies often make rough estimates of costs, revenue, and profitability
In discussing packaging and why it is important explains why in the idea evaluation stage companies often make rough estimates of costs, revenue, and profitability related to packaging. They do so based on the reactions of final consumers, wholesalers and retailers. In business markets, idea evaluation is often more precise, because potential customers are well informed, and because they often focus on satisfying economic needs in purchasing. The idea evaluation stage should gather enough information to determine if there is a real opportunity, if it fits with the firm's resources, and if there is the potential to create a real competitive advantage. Has anyone in the class ever been part of a focus group or survey group to rate a product and packaging changes based on potential success?
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