Conceptualizing Products/Services Using FAD

Product/service feasibility analysis is crucial to a successful design. This type of analysis is used to analyze the market and product feasibility of the product or service. An organization can develop a wonderful product or service but fail to gain market share. This is often directly related to gaps in the feasibility analysis.

Conceptualizing Products/Services Using FAD

The previous chapters have focused on learning the basic concepts related to product differentiation in the context of monopolistic competition. The focus of this chapter is learning-by-doing. We will use techniques to help transform a nagging idea about a new product to be more explicit and real. The tool for completing this task is called the FAD (features, attributes, and design) template. The FAD template is used to identify the features and attributes that can be used for product and service differentiation. The first part of the chapter will introduce the key concepts necessary to understand and motivate the use of the FAD template. The FAD template will then be introduced and used to demonstrate and structure the development of important attributes and features of a new product or service.

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