Go or Nogo Decisions

Fuzzy-gate concept helps manufacturers know whether they are going in the right direction of new product development or they need some changes or improvements. A firm should make the decisions regarding product development at both stages of the development, which include before development and during development. The reason for before development is that when the firm will be making appropriate decisions before developing the product, it will be able to manufacture right product for the customers. Similarly, when the firm will evaluate its decisions according to the market business during product development, it will be able to achieve desired results from the product. Essay Answer: 2 The techniques, which a company can use to attain speed in a new product project, include proper management of organization, intensifying resource commitments, designing for speed, preparing for rapid manufacturing, and preparing for rapid marketing. The techniques, which can be used in proper management of organization while bringing a new cosmetics division in an established skincare company, include use of a good idea, properly analyzing customers’ demands, encouraging and protecting team, and clearing tracks in shared supporting departments. Similarly, some techniques for intensification of resource commitments include integration of channel members and use of parallel engineering. In case of design for speed, some good techniques include rapid prototyping, computer-aided design, and design-aided manufacturing. In case of preparing for rapid marketing, use of rollouts and facilitating trial purchasing are good options for a firm to attain speed. Some risks included in speed to market approach include improper analysis of the market, improper analysis of the customers’ demands, and development of an improper marketing strategy. Essay Answer: 3 New product ideas hold great importance in the process of new product development. ABC Company needs many ideas to select the best ideas for the product development. The department of new product development should look at the ideas generating from various sources, such as, employees, customers, research and development, competitors, distributors, psychologists, and outside sources. The department can collect valuable information from these sources because all of these sources play an important role in the overall process of product development. Sources, such as, competitors, research and development, employees, and outside sources can make the manufacturers aware of the needs and demands of the market regarding any specific product. Lead users are the people who use the product developed by the company. The role of lad users is very important in the development process because they can give the exact idea regarding what actually is demanded and expected by the intended users of the product. Therefore, manufacturers need to consider the opinion of led users while developing new products in order to achieve success in market. Essay Answer: 4 Social responsibility must be a key initiative because it builds a positive image of the brand in the minds of the customers. Being the new product development manager of motorized scooter, I will incorporate social responsibility to protect the environment as much as possible. I will develop an eco-friendly motorized scooter, which will have no noise and pollutant emissions. I will use the concept of green marketing to

Back To Top