February 2016
Intermediate to advanced
480 pages
219h 58m
English
LO 5.2 Describe a product development system
An effective product strategy links product decisions with other business functions, such as R&D, engineering, marketing, and finance. A firm requires cash for product development, an understanding of the marketplace, and the necessary human talents. The product development system may well determine not only product success but also the firm’s future. Figure 5.3 shows the stages of product development. In this system, product options go through a series of steps, each having its own screening and evaluation criteria, but providing a continuing flow of information to prior steps.
Optimum product development depends not only on support from other parts ...