Selecting best ideas for new product development
Document Type
Conference paper
Source Publication
Flexibility, innovation, and adding value as drivers of global competitiveness : private and public sector challenges : proceedings of the Twenty-second Annual World Business Congress, June 25-29, 2013, National Taipei University, Taipei, Taiwan.
Publication Date
1-1-2013
First Page
166
Last Page
173
Publisher
International Management Development Association
Abstract
Selecting best concepts from numerous candidates requires a large sample and is time-consuming. This study adopts Generalizability Theory to compare psychometric quality and predictive accuracy of the traditional sequential monadic test and Adaptive Concept Screening (ACS). The data were made available by a packaged goods company using sequential monadic test and ACS among two independent groups of respondents to screen the same 50 product concepts. The results indicate that ACS requires a significant smaller sample of respondents to achieve a necessary minimum G-coefficient for decision-making and offers a more discriminating and reliable solution for early stage concept screening.
Additional Information
Paper presented at the 22nd Annual World Business Congress, Jun 25-29, 2013, National Taipei University, Taipei, Taiwan.
ISBN of the source publication: 9781888624120
Language
English
Recommended Citation
Peng, L., & Cui, G. (2013). Selecting best ideas for new product development. In E. Kaynak & T. D. Harcar (Eds.), Flexibility, innovation, and adding value as drivers of global competitiveness: Private and public sector challenges: Proceedings of the Twenty-second Annual World Business Congress, June 25-29, 2013, National Taipei University, Taipei, Taiwan. (pp. 166-173). Hummelstown: International Management Development Association.