by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What is Product or Service Development?Product and service development (PSD) is more than simply manufacturing a product or devising procedures for carrying out at service. PSD involves strategic assessment of your concept and how it delivers value to the customer....
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What is an Alpha Test?An alpha test is exposing the product to a group of internal constituents to monitor their impressions, perceptions, and use of the product. What is the Purpose of the Alpha Test? The main purpose of the Alpha test is to test the functionality of...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What is a Strategic Assessment?During the Alpha test sequence (all iterations) you will uncover a great deal about customer expectations and wants. It is doubtful that your product will be able to meet all of the wants or expectations of your customers. That being...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What is a Beta Test?A Beta test is where you introduce a new product to a limited number of external customers to explore customer impressions and insights. How is the Beta Test used?Unlike in the Alpha test, the test subjects do not have prior knowledge of the...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
Should I tell others about my business idea?It depends on how secure your idea is protected and to whom you disclose the information. Aspiring entrepreneurs often face this difficult decision early in the life of their startup. Letting people know about your business...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What are the Intellectual Property Considerations for Product or Service Development?Part of a competitive strategy includes establishing rights in a product or service method that is not subject to copy or complete imitation by competitors. This may require capturing...
