Evaluate the Success; Establishes business-wide qualitative and quantitative procedures for evaluating success of the new product or service at regular intervals, explain how the results will impact decisions on whether and how to continue or exit.

Refinement: Evaluate the Success; Establishes business-wide qualitative and quantitative procedures for evaluating success of the new product or service at regular intervals, explain how the results will impact decisions on whether and how to continue or exit. This topic could also be used to discuss the different methods that you would use in order to measure the success of the plan. The following may help in addressing your observations. Breadth of Use The most intuitive measure of product success, this is simply a measurement of how many people are using your product. Frequency of Use How frequently you want users returning depends on the purpose of your product. Depth of Use Understanding how many of your product features are being used is key to measuring success. Efficiency Usability is key to retaining users and the ultimate goal of any product is the ability to use it easily, correctly and as quickly as possible. Satisfaction What your customers are saying about your product is just as important as their user behavior. ……………………………………………………………………………………………………………………………………..………..……….…Pg# Feedback Loops: Specifies regular, five-step feedback loops and other processes to support the new idea, to keep it on track, and make mid-course corrections as needed. A feedback loop is a process in which the outputs of a system are circled back and used as inputs. For example; A marketing feedback loop is created when a business utilizes the responses they attract from a campaign effort or a product on the social web, and this can be later utilized in their marketing efforts. ………………………………………Pg# Other Factors: In planning for the future, determine procedures for how you will identify and integrate other factors that might affect implementation of your new idea into your business decisions and planning? In other words, what other things do you need to consider when moving forward, especially concerning your competition?………………………………………………………………………………………….……………….Pg# Resources…………………………………………………………………………………………………………………………………………………………..Pg#

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