Chapter 3 - Opportunity Identification, Chapter 4 - Product Planning

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Author:
km.kristine
ID:
253001
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Chapter 3 - Opportunity Identification, Chapter 4 - Product Planning
Updated:
2013-12-13 14:41:31
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ME 2024 Final Test Chapter Opportunity Identification Product planning
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Opportunity Identification, Product planning
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  1. What is an opportunity?
    • An idea for a new product
    • a production description in embryonic form
    • a newly sensed need
    • a newly discovered technology
    • a rough match between a need and a possible solution
  2. What are the steps of the planning process?
    • Identify opportunities
    • Evaluate and prioritize projects
    • Allocate resources and plan timing
    • Complete pre-project planning
    • Reflect on the results and the process
  3. What is a competitive strategy?
    a basic approach to markets and products with respect to competitors
  4. What are four competitive strategies?
    • Technology leadership
    • Cost leadership
    • Customer focus
    • Imitative
  5. When using the technology leadership strategy, the firm places great emphasis on ___ and development of new technologies and on the deployment of these through product development.
    Basic research
  6. When using the cost leadership strategy, the firm competes on ___.
    Production efficiency
  7. The ___ displays the performance of the products in a product category over time.
    Technology S-curve
  8. The set of assets shared across a set of products is known as the ___.
    Product platform
  9. A ___ is a mapping which plots the portfolio of projects along two dimensions: the extent to which the project involves a change in the product line and the extent to which the project involves a change in production processes.
    Product-process change matrix
  10. ___ helps an organization make efficient use of its resources by pursuing only those projects that can reasonably be completed with the budgeted resources.
    Aggregate planning
  11. The mission statement may include some or all of the following information:
    • brief (one-sentence) description of the product
    • benefit proposition
    • key business goals
    • target market(s) for the product
    • assumptions and constraints that guide the development effort
    • stakeholders

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