Session 6

Question 1

describe the concept of roadmap and describe the upstream road-mapping activities

Answer 1

Roadmap

• Defining the product’s future path
• Links knowledge about technology, markets and business strategy
• Both forecasts and general plans

INTERNAL: team members bring in expertise on

• Competitive, technological, regulatory landscape
• Market drivers and trends
• Corporate resource and vision
• Operational capabilities & product architecture …

EXTERNAL: regular innovation meetings with suppliers, technology experts, lead users, market experts,…

Question 2

explain the concept of core, adjacency and breakthrough growth within the context of strategic product thinking

Answer 2

(NEED TO RESEARCH ANSWER TO THIS QUESTION)
Give an example of:

Core growth
Adjacency growth
Breakthrough growth

Question 3

describe the stage-gate process and its relevance for the PM

Answer 3

(graphics in notes - perhaps need to find a worded explaination - RESEARCH IT)

Question 4

describe which methods PMs can use to develop product ideas - what are the major sources and what criteria may be part of the strategic filter in order to screen new product ideas?

Answer 4

graphic in notes worth checking

• Fit within existing product mix
• Patentability
• Risk of competitive entry
• Ability to sell through existing distribution
• Compatibility with strategic plan
• Acceptable payback period
• Growth potential
• Cost of tooling and machinery
• Compatibility with core technologies

Question 5

give an overview of some of the major failure and success reasons related to innovation

Answer 5

SUCCESS
-Product/market fit
Product advantage/superiority
-Top management support
-Corporate synergy
-Marketing and technological synergy
-Proficiency/quality of product development activities
-High involvement employees

FAIL

• Innovation for the wrong reasons (internal prestige)
• Overestimation of market parameters
• Underestimation of development costs
• Competitive forces
• Fragmentation versus limit to differentiate
• Legal constraints
• Development time/product life cycle

Question 6

describe the main components of a business case and the importance of a business case in the context of PM

Answer 6

• Goal is to provide a rational basis for making the decision as to whether or not to invest in the new product concept
• Info should be presented in a way that informs and encourages an affirmative vote

A business case is a structured proposal for investment in a new product containing …

• Market requirements (i.e., needs & benefits)
• Feasability of building the product
• Discussion on target market(s) & opportunities
• Financial overview
• Soft benefits (in terms of brand awareness, referrals, higher customer satisfaction)

The business case should predict the outcome if the decision is made to pursue it …