MGT-30157 Product Management Techniques Project Instructions

Background: The product life cycle shows us that markets and competition are dynamic. Over time old products are replaced with new ones. And as markets mature, firms usually face increasing price competition and erosion of their profit margins. To succeed in spite of these pressures, firms must constantly look for new market opportunities-and that often means identifying and developing new product ideas and effective strategies to go with them. While the new product development process is crucial to the survival and success of most firms, it is also a challenge. Even the best run companies sometimes miss opportunities that-after the fact-seem obvious. And too often companies go ahead and introduce new products that turn out to be costly failures. Marketing managers can increase the odds of success in this area by really understanding the steps of the new product development process-and what it takes to generate and screen new product ideas, This exercise is intended to help develop…

The proprietary information about a company's plan for development of a new product design may be considered as public information.  True or False?

Describing your products For the product you find easy to use, describe or answer the following (each in a few sentences): • What is the product? What task does the product perform? • Present one way in which this product is easy for you to use • How would someone else find this product difficult to use? How could this difficulty be resolved? For the product you find difficult to use, describe or answer the following (each in a few sentences): What is the product? What task does the product perform? Present one way in which this product is difficult for you to use How could this difficulty be resolved? • How would someone else find this product easy to use? With a few sentences, summarize an important difference between the two products that affected your answers.

The case above discusses design and innovation at Dyson Appliances Limited (DAL). As a purchasing manager, advice on the best way to source the relevant material required in the production of DAL’s first vacuum cleaner.

Identify and discuss any two risks that may occur during a systems development process.

In light of the case study provided, critically discuss the primary reasons contributing to the recurring failures in product development and innovations in the consumer goods industry. Make use of relevant examples.

Which are the possible ethical issues that designers might face during the development process. Explain the influence of the design hierarchy on ethical issues and the way designers deal with them. In the typical design processes, most ethical issues were dealt with by referring to regulative frameworks. If the regulative frameworks do not cover the ethical issue subject, what would be the basis of the decisions to be made on this ethical issue?

Put together an executive summary for a product management plan. This summary must include the objectives, key points, and any related data or essential parts which would need to be presented to the senior management team. Be sure to review the necessary ítems and concepts needed that are referred to in the modules when completing these tasks. By doing this you will have an essential understanding of this part of the product development plan process.

For a strategic alliance, firms should seek partners that are: Group of answer choices willing to share costs and risks of new-product development. known for being opportunistic. different in terms of vision and agendas. radically different when it comes to strategic goals. similar when it comes to capabilities.

My product is called "The Perfect Cup." It is a reusable coffee cup that helps people save money and reduce waste. Conduct a SWOT analysis for your product.  Strengths: What are the positive internal factors for your product? Examples could be a new, innovative product or service; location of the company; quality processes and procedures; or any other aspect that adds value to your product or service. Weaknesses: What are the negative internal factors for your product? Examples could be undifferentiated products in relation to your competitors; location of the company; poor-quality goods or services; or a damaged reputation. Opportunities: What are the positive external factors that could influence your product? Examples could be mergers; joint ventures or strategic alliances; new market segments; international markets; or a market vacated by an ineffective competitor. Threats: What are the negative external factors that could influence your product? Examples could be new competitor in…

A software development lifecycle is made up of several components. Which phase do you feel consumer engagement contributes to the system's growth with fewer demand changes? Provide evidence to support your opinion.

Critical Thinking Products such as video games pro- duced for traditional gaming consoles used to be sold only as physical items, but of course now they can also be downloaded onto a gaming console (such as Xbox One or PlayStation 4). For a video game that is exclu- sively sold as a download, how do you think the new product development process might vary compared to the process involved in producing a video game sold exclusively as a physical product?

What are good ways to build prototypes and "fail fast"? What do great firms do in this area? Can large firms like GE practice lean-start up models, or is it almost impossible for large firms to implement? Do large firms need to implement things differently? How do I make sure we learn the right lessons from market tests? How can I conduct such tests in a "fail-fast" way and still keep my intentions below the rivals' radar?

Which features could we add to improve the product?

Four (4) reasons for new product failures and how a company can minimize these failures and increase the chance that the product will be successful.

what's important about the innovation or ideation phase of product/service development?

How do I do this? Down Creek Boots (DCB) is a boot manufacturer (fictitious) that focuses on making high-quality leather work boots, with prices ranging from $200-$350. After being successful in this market for over 30 years and developing a positive brand reputation and loyal customers, DCB has decided to broaden their line to include leather hiking boots. While these share some characteristics with work boots, the design will be slightly different and different soles will be used. They are fairly confident annual demand will be between 30,000 and 40,000 pairs in the first year, and expect a 10% growth rate in sales for the next few following years. However, in their plant in Minnesota, DCB currently has little excessive capacity. Thus, to make the new boots, DCB will either need to expand their plant, or outsource production to another boot maker. If they outsource production of the boots, they will outsource production to a firm that has the manufacturing capability to produce them…

Explain in depth the reasoning behind the design's conception and guiding concepts. If a product's design claims to be "great," what criteria must it meet?

To stay successful in the face of maturing products, companies have to obtain new ones by a carefully executed new product development process. But they face a problem: although they must develop new products, the odds weigh heavily against success. Of thousands of products entering the process, only a handful reaches the market. Therefore, it is of crucial importance to understand consumers, markets, and competitors to develop products that deliver superior value to customers. Briefly describe a new product development process with the help of an example and also Why do new products fail?

The team of ABC corp, the manufacturer of a chip processor, has a good grasp on how software giants build products around its processors. The teams at ABC design processors to feature attractive capabilities to the software giants by seeking input from researchers and designers on the ABC corp team who possess knowledge of current and upcoming trends. New processors will incorporate these trends in design. After identifying what type of problem-solving style this would be an example of, incorporate the key skills entrepreneurs must have and apply them in terms of the ABC corp team.

How do you find an organization's core competencies and capabilities? How do you identify the four elements of the value proposition for an organization’s product/service?

How does product management play a crucial role in the development and evolution of software products?

Identify ten (10) products and/or services you are using that require modifications, upgrades, or improvements to further benefit the society and to take advantage of the new technologies. Be able to discuss the improvements/upgrades of the product. Please follow the template on how you write your answers: 1. Product/Service 1 - explain how is the existing product or services operate or function. Proposed improvement - discuss here how your revised product/service should operate or function. You may insert the design of your proposed product.

The product life cycle for many products is getting shorter. In what way does this trend complicate the product design process? can you think of any advantages to shorter product cycles for firms that have exemplary design processes? Use the phases of product life cycle such as: start-up, growth, maturity and decline.

2. Assurance Drug Company has developed a promising new nonprescription tablet to relieve the symptoms of allergy sufferers. The idea has successfully passed the screening and idea evaluation stages of the company's newproduct development process. The company has also completed concept tests and produced some tablets. Now, the head of the newproduct development group has sent the following memo to the marketing department. "Our laboratory tests have satisfied the Food and Drug Administration criteria and we are ready to move ahead with a final test market prior to commercialization. I want you to start thinking about this now. If the product does well in the test market, we will need to develop the rest of the marketing mix. We will want to come up with an attentiongetting package design-one that will really stand out on a drugstore shelf. We will also need to decide on the brand name we would use in a national distribution. For now, we will just price the product in the test market at…

What is the “logical malleability” of software as both a product and a service? Explain at least four “conceptual muddles” this state of affairs creates for upholding ethical frameworks. Include three specific cases and examples from the book or recent current events.

Discuss underlying principle(s) one can use to design an application form that is both "fair" and "useful?" Explain. Discuss any application form you have encountered that was very well done. What about one that was poorly constructed or created problems for you?

How can economic engineers evaluate Design Alternatives to gauge product cost and price?