General

Question 1

Companies that use NPD best practices see..

Answer 1

7-10% better profits

Question 2

Innovative Product Management

Answer 2

Strategy
Innovation / NPD Process
Portfolio Management
Implementation & Metrics
PLM

Question 3

NPD Framework

Answer 3

Innovation Strategy
Portfolio Mgmt - New Product Process - PLM
Teams - Tools - Metrics -Market Research

Question 4

How do we increase profits?

Answer 4

Mergers & Acquisitions

Reduce costs (re-engineering)

Develop new products (NPD)

Question 5

The best companies derive ___% to ___% of their annual review from new products.

Answer 5

20% to 50%

Question 6

PDMA is based on best practices and research on

Answer 6

Language

Concepts

Best Practices

Question 7

InnovationDefinition

Answer 7

Theactofcreatinganewproductor
process (productorservice).

Itincludesinvention,improvement,andtheworkittakes to bring the product/service to its final form

Question 8

NPDDefinition

Answer 8

Theoverallprocessof
strategy
organization
conceptgeneration
productandmarketingplancreationand
evaluation
commercializationofanewproduct.

Aka– productdevelopment.

Innovation=NewProductDevelopment

Question 9

ProductLife‐‐CycleManagement

Answer 9

The four stages (aftercommercialization) that a new productisthoughttogothroughfrombirthto
death:

Introduction;
growth;
maturity;and
decline.