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QUESTION
Three new-product ideas have been suggested. These ideas have been rated as shown in the Table below Product* Criteria A B C Weight (%) Development cost P F VG 10 Sales prospects VG E G 15 Producibili
Three new-product ideas have been suggested. These ideas have been rated as shown in the Table below
Product*
Criteria
A
B
C
Weight (%)
Development cost
P
F
VG
10
Sales prospects
VG
E
G
15
Producibility
P
F
G
10
Competitive advantage
E
VG
F
15
Technical risk
P
F
VG
20
Patent protection
F
F
VG
10
Compatibility with strategy
VG
F
F
20
100
*P=poor,F=fair, G=good, VG=very good, E=excellent
- Using an equal point spread for all five ratings (i.e., P = 1 , F = 2 , G = 3 , VG = 4 , E = 5 P=1,F=2,G=3,VG=4,E=5), determine a weighted score for each product idea. What is the ranking of the three products?
- Rank the criteria, compute the rank-sum weights, and determine the score for each alternative. Do the same using the rank reciprocal weights.
- What are some of the advantages and disadvantages of this method of product selection?.
