Product Strategy Review Exam 1

Product Strategy Review Exam 1 - Product Strategy Review...

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Product Strategy Review Exam 1 Course Objective #1: know the phases of a new product development process, be able to make  an argument about why such a process is important, understand what can cause deviations  from this process and anticipate the activities in each stage for different industries Do you know why it is important to study NPD? Differentiation Screens and refines product concepts Systematic approach Do you know what the phases of NPD are? Types of activities in the phases? P1: Opportunity Identification and Selection o Create PIC and focus statement o Develop new product strategy statement (PIC) o Identify opportunities  o Degree of innovation (part of PIC) o Product portfolios P2: Concept Generation o Product concept statement (need, tech, form) o Finding and solving customer problems (identifying needs – 5 steps gather,  interpret,organize est. importance) o Interpret data and assign attributes (mapping) P3: concept evaluation o Evaluate concepts P4: development P5: launch Can you give reasons for and examples of deviations chronological ordering of the phases? Caught up in small details Not looking at what the customers need Objective #2: write a new products strategy statement which explains how a firms capabilities  will be used to address an unmet customer need Do you know various ways that firms identify opportunities? Internal o Ongoing market research o New resource o Scientific breakthough o Underutilized resource o Employee suggestion o Organizational change External
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o Competitor actions o Salient trend o Scientific brekthru o Regulatory change o Customer suggestion o Partner suggestion Find antoher location or venue, leverage firm strengths in a new activity, Identify fast growing 
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This homework help was uploaded on 03/18/2009 for the course MKTG 4250 taught by Professor Kornish,la during the Fall '07 term at Colorado.

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Product Strategy Review Exam 1 - Product Strategy Review...

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