Phase-gate model
(noun)
A new product development strategy that is divided into phases, separated by gates.
Examples of Phase-gate model in the following topics:
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Strategy
- These include Six Sigma , which aims to drive variation out of a process; Lean, which acts to drive out waste; and traditional project management and phased development systems (including the popular Phase–gate model, discussed next), which encourage upfront planning and following the plan.
- In a phase–gate model, also referred to as a phase–gate process, the process is divided into stages or phases, separated by gates.
- At each gate, the continuation of the process is decided by (typically) a manager or a steering committee.
- The phase–gate model may also be known as stage-limited commitment or creeping commitment.
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AIDA Model
- The AIDA model is an approach used by advertisers to describe the different phases of consumer engagement with an advertisement.
- Elmo Lewis, is largely credited for developing the AIDA model.
- New phases such as satisfaction (AIDAS) and confidence (AIDCAS) have been added to the original AIDA model.
- Other modifications include the model's reduction to the three steps known as the CAB model.
- Define the AIDA model and how the system is used to guide integrated marketing communications
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Product Life-Cycle Curve
- It is important for marketing managers to understand the limitations of the product life cycle model.
- All in all, it is a useful model, but not a certainty.
- Facebook is in the mature phase of the product life cycle.
- The iPod touch is currently in the mature phase of the product life cycle.
- Such a product may be difficult to classify using the product life cycle model - is it the same old iPod, or an entirely new product?
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Maturity
- Many popular and known products, such as the iPod and the iPhone, are in the maturity phase at the moment.
- Apple managed to extend the maturity phase of the iPod by introducing the iPod touch, which introduced a touch screen and new features.
- It also introduced new functionalities such as the use of apps, making it much more versatile and useful than the older iPods; one could argue that the iPod touch should be considered an entirely new product rather than an innovation on earlier iPod models.
- The company will want to prolong this phase so as to avoid decline, and this desire leads to new innovation and features in order to continue to compete with the competition which, by now, has become very established, advanced and fierce.
- However, despite this, sales continue to grow in the early part of the maturity phase.
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Deletion
- A day later, it was announced that it would be phased out in North America by the end of 2005.
- However, factors including a company's business model, culture (or local tastes), government politics and/or regulations, and product malfunction can all contribute to the removal of a product.
- It was phased out in North America by the end of 2005 due to low sales.
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Analyzing Data
- Analysis of data is a process of inspecting, cleaning, transforming, and modeling data with the goal of highlighting useful information, suggesting conclusions, and supporting decision making.
- Data mining is a particular data analysis technique that focuses on modeling and knowledge discovery for predictive rather than purely descriptive purposes.
- Predictive analytics focuses on application of statistical or structural models for predictive forecasting or classification.
- During this phase of the research process, data is carefully edited, coded, transcribed, and verified in order for it to be properly analyzed.
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CRM and Personal Selling
- Customer relationship management is a widely used model for managing a company's interactions with customers, clients, and sales prospects.
- Customer relationship management (CRM) is a widely implemented model for managing a company's interactions with customers, clients, and sales prospects.
- Sales force automation (SFA) involves using software to streamline all phases of the sales process, minimizing the time that sales representatives need to spend on each phase.
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Features and Attributes of a Product
- The concept phase is where ideas for new features are considered.
- Various models exist, with different tool combinations for specific tasks designed for everyday use.
- The simplest model sold includes only a single blade, the most complicated model features many extra tools like: a smaller second blade, tweezers, toothpick, corkscrew, can opener, bottle opener, slotted/flat-head screwdriver(s), phillips-head screwdriver, nail file, scissors, saw (regular, wood), file, hook, magnifying glass, ballpoint pen, fish scaler, and so on.
- While containing an incredible amount of different features and uses, this model has lost one of the primary characteristics of the original Swiss army knife, that of portability.