New Product Process Flashcards
phases of the new product process
1) opportunity identification and selection
2) concept generation
3) concept evaluation
4) development: technical and marketing
5) launch
opportunity identification & selection
the “fuzzy front end”; research, evaluate, validate, and rank potential opportunities
concept generation
select high potential opportunity; collect available product concepts and create new ones; begin early customer involvement
concept evaluation
evaluate concepts on technical, marketing, and financial criteria; refine and improve
technical development
design, test, and validate product; scale production as necessary
marketing development
prepare strategy, tactics, and materials for launch; finalize business plan; coordinate cross-functional support for full launch
launch
implement launch plans; begin distribution and sales; monitor and refine commercialize activities
product innovation charter
short document to authorize and focus the team; provides background, goals, limitations, and focus area
why is rapid product development important?
reduce product development cost; brings in revenue sooner; maximizes competitive advantage
how to reduce product development cycle time?
efficient process; reuse parts, software, and architecture; set intermediate milestones; early customer involvement
stage-gate process
a series of tasks followed by management decisions; keeps everyone in line
agile development process
iterative and incremental process; short-term limited objectives; flexible and responsive
design freeze
Setting a time at which no further design
changes are permitted
scope creep/creeping elegance
tendency to add features or capabilities to a
product, beyond the original scope
