ISOM 4210 Mid term revision_ PART II

There are two types of product development basics: [blank_start]modular products[blank_end] and [blank_start]product platforms[blank_end] .

Modularity is the degree to which a [blank_start]complex[blank_end] product can be built from smaller [blank_start]components[blank_end] that can be created [blank_start]independently[blank_end], but function together. Example of a modular product would be PC . Because it has components like [blank_start]operating system[blank_end], [blank_start]disk drive[blank_end], memory and CPU.

When should a company develop a modular product? When the pace of the [blank_start]technological change[blank_end] is high When the components do not have to be [blank_start]highly integrated[blank_end] When [blank_start]technical standards[blank_end] have been established When customer demand is [blank_start]heterogeneous[blank_end]

Pros of developing modular products:

Automobile platform is an example of product platforms. Product platforms are a common technological base to which different features are added to create a family of products.

pros and cons of using a product platform: Companies use platforms to :  [blank_start]Offer More variety[blank_end] to customers without [blank_start]straining organizational efficiencies[blank_end]  [blank_start]Reduce costs: manufacturing, design[blank_end]  Reduce [blank_start]product cycle time[blank_end] Downsides of platforms:  Reduces [blank_start]product distinctiveness[blank_end]  Increases demands for [blank_start]organizational coordination[blank_end]  Leads to the [blank_start]“over design” of low-end[blank_end] products

Companies may decide to fulfill only some of the unfulfilled needs. The ones which are the most important or which affect buying

 [blank_start]Conjoint analysis[blank_end] 同埋 [blank_start]Kano Method[blank_end] 係兩個 methods to decide what product features should be kept

Customers tend to think collectively, so if you ask customers directly, you can't get good answers

Conjoint Analysis: [blank_start]Regression analysis[blank_end] is performed to find out the [blank_start]importance of each attribute[blank_end] The regression weights provide a [blank_start]quantitative[blank_end] measure of the [blank_start]importance of each feature to customers[blank_end].

Conjoint A statistical tool that allows assess: 相對重要性， 最好組合 The [blank_start]relative importance[blank_end] to customers of different product features (including price) The [blank_start]best combination of features[blank_end] to meet their needs, even when customers are not aware of the value they ascribe to those features

Limitations of Conjoint analysis includes: (產品特色之間要獨立， 可能會變到好複雜， 可能客人唔清楚product category) The attributes should be [blank_start]independent[blank_end] Too many attributes and the conjoint analysis become too [blank_start]complex[blank_end] Respondents should be [blank_start]familiar[blank_end] with the product category [blank_start]Uncertainty about product attributes[blank_end] to include in the conjoint analysis study Linear relationship between [blank_start]attribute and satisfaction[blank_end]

Kano method: Rate on a scale of 1-5: Have no impact on satisfaction or dissatisfaction => [blank_start]Indifferent Quality[blank_end] These attributes provide satisfaction when fulfilled, but Do Not cause dissatisfaction when not fulfilled => [blank_start]Exciters/delighters[blank_end] These attributes result in satisfaction when fulfilled, but cause dissatisfaction when not fulfilled => [blank_start]Performance/Linear[blank_end] These attributes are taken for granted when fulfilled, but cause dissatisfaction when not fulfilled => [blank_start]Must-haves[blank_end]

stage gate is a [blank_start]decision-making tools[blank_end] that [blank_start]restricts the investment[blank_end] in the [blank_start]more costly stages[blank_end] of innovation process until they milestones have been met

Stage 1: [blank_start]scoping[blank_end] => stage 2: [blank_start]build business case[blank_end] => stage 3 => [blank_start]development[blank_end] => stage 4: [blank_start]testing and validation[blank_end] = > stage 5: launch

For Criteria: What the project is judged against in order to make the go/kill and prioritization decisions. For output: Results of the gate review. Gates must have clearly articulated outputs including: a decision (go/kill/[blank_start]hold[blank_end]/[blank_start]recycle[blank_end])