Podcast
Questions and Answers
Based on the text, what was a key factor in Compaq's success in the early 1980s?
Based on the text, what was a key factor in Compaq's success in the early 1980s?
- Developing innovative manufacturing techniques.
- Prioritizing research and development efforts.
- Focusing on a specific, growing market niche. (correct)
- Expanding into emerging market segments.
What aspect of HP's ink jet printer development exemplifies the 'beachhead strategy'?
What aspect of HP's ink jet printer development exemplifies the 'beachhead strategy'?
- HP's development of a product platform that led to a family of printers
- HP's parallel development of different printer platforms, like the '500', '600', and '800' (correct)
- HP's focus on improving cost, quality, and speed of their printers
- HP's use of a chance discovery at their Palo Alto laboratory
What can be inferred about Compaq's approach to research and development (R&D) based on the information provided?
What can be inferred about Compaq's approach to research and development (R&D) based on the information provided?
- Compaq heavily relied on external partnerships for technological innovation.
- R&D investment was prioritized over other business areas.
- R&D was considered crucial to Compaq's growth strategy.
- R&D spending was limited despite significant sales growth. (correct)
What is the key characteristic of a 'product platform'?
What is the key characteristic of a 'product platform'?
What is the primary goal of Step 1 in the process for defining platform strategy?
What is the primary goal of Step 1 in the process for defining platform strategy?
How did HP's ink jet printer technology initially differ from dot matrix printers?
How did HP's ink jet printer technology initially differ from dot matrix printers?
Which of the following is NOT a type of data required to identify growth areas in Step 2?
Which of the following is NOT a type of data required to identify growth areas in Step 2?
What is the primary focus of the 'beachhead strategy'?
What is the primary focus of the 'beachhead strategy'?
What is the significance of looking forward in time when segmenting markets in Step 1?
What is the significance of looking forward in time when segmenting markets in Step 1?
In the context of HP's ink jet printer development, what does the term 'beachhead' represent?
In the context of HP's ink jet printer development, what does the term 'beachhead' represent?
What is a potential drawback of defining "the business" too narrowly in Step 1?
What is a potential drawback of defining "the business" too narrowly in Step 1?
What is the primary purpose of defining current platforms in Step 3?
What is the primary purpose of defining current platforms in Step 3?
What was the core innovation that led to HP's development of ink jet printers?
What was the core innovation that led to HP's development of ink jet printers?
Which of the following is NOT mentioned as a step in the process for defining platform strategy?
Which of the following is NOT mentioned as a step in the process for defining platform strategy?
How did HP's product family renewal impact the low-end printer market?
How did HP's product family renewal impact the low-end printer market?
What is the primary reason that HP's '500', '600', and '800' platforms represent 'horizontal leverage'?
What is the primary reason that HP's '500', '600', and '800' platforms represent 'horizontal leverage'?
What is the key principle behind the new product strategy proposed in the text?
What is the key principle behind the new product strategy proposed in the text?
Which of the following is NOT a component of the “power tower” model for managing innovation?
Which of the following is NOT a component of the “power tower” model for managing innovation?
What is the "beachhead strategy" as described in the text?
What is the "beachhead strategy" as described in the text?
How does the Hon Furniture Company exemplify the "beachhead strategy"?
How does the Hon Furniture Company exemplify the "beachhead strategy"?
How do customers generally react to companies that continuously innovate and introduce better products?
How do customers generally react to companies that continuously innovate and introduce better products?
What is the primary objective of the “power tower” model?
What is the primary objective of the “power tower” model?
What is the potential threat posed by low-end manufacturers to high-end producers?
What is the potential threat posed by low-end manufacturers to high-end producers?
Which of the following companies exemplifies the "retaking the low ground" scenario discussed in the text?
Which of the following companies exemplifies the "retaking the low ground" scenario discussed in the text?
Which of the following is NOT a benefit of continuous product platform renewal?
Which of the following is NOT a benefit of continuous product platform renewal?
Which of the following is NOT a key component of the first step in defining a platform strategy?
Which of the following is NOT a key component of the first step in defining a platform strategy?
Why is it important to incorporate emerging market segments in the first step of platform strategy?
Why is it important to incorporate emerging market segments in the first step of platform strategy?
What is the potential consequence of defining "the business" too narrowly in platform strategy?
What is the potential consequence of defining "the business" too narrowly in platform strategy?
In the context of platform strategy, how are major market segments and price-performance tiers represented?
In the context of platform strategy, how are major market segments and price-performance tiers represented?
What was the primary catalyst for Black & Decker's renewal of their power tool portfolio?
What was the primary catalyst for Black & Decker's renewal of their power tool portfolio?
What is the purpose of using high-level block diagrams when defining product platforms?
What is the purpose of using high-level block diagrams when defining product platforms?
What was the main issue with Black & Decker's product portfolio in the early 1970s?
What was the main issue with Black & Decker's product portfolio in the early 1970s?
What is the primary objective of analyzing competing products in the context of product platform strategy?
What is the primary objective of analyzing competing products in the context of product platform strategy?
Which of the following was NOT a contributing factor to Black & Decker's inefficient manufacturing process?
Which of the following was NOT a contributing factor to Black & Decker's inefficient manufacturing process?
What is 'horizontal scaling' in the context of product platforms?
What is 'horizontal scaling' in the context of product platforms?
What is the underlying principle behind the mindset proposed for new product strategy?
What is the underlying principle behind the mindset proposed for new product strategy?
What was the primary consequence of Black & Decker's uncoordinated product design?
What was the primary consequence of Black & Decker's uncoordinated product design?
What is the significance of the fact that Black & Decker's competitors followed a similar product development approach?
What is the significance of the fact that Black & Decker's competitors followed a similar product development approach?
What is the potential downside to a company's continuous product platform renewal strategy?
What is the potential downside to a company's continuous product platform renewal strategy?
What key insight does the case of Black & Decker offer about product development?
What key insight does the case of Black & Decker offer about product development?
What is the main difference between horizontal scaling and vertical scaling in product platform strategy?
What is the main difference between horizontal scaling and vertical scaling in product platform strategy?
What does the term 'putting skin into the game' signify?
What does the term 'putting skin into the game' signify?
Why was Black & Decker's product portfolio considered “uncoordinated” in the 1970s?
Why was Black & Decker's product portfolio considered “uncoordinated” in the 1970s?
What can be inferred from the fact that Black & Decker had 60 different motor housings and 104 different armatures for their power tools?
What can be inferred from the fact that Black & Decker had 60 different motor housings and 104 different armatures for their power tools?
The text states that corporations need to recapture the entrepreneurial essence of their early years. What is the most crucial element of this entrepreneurial essence?
The text states that corporations need to recapture the entrepreneurial essence of their early years. What is the most crucial element of this entrepreneurial essence?
Flashcards
Product Platform
Product Platform
A set of common components used to create and launch derivative products efficiently.
Key Product Parts
Key Product Parts
Major components, like the motor in power tools, that are fundamental to a product platform.
Hewlett Packard's Ink Jet Development
Hewlett Packard's Ink Jet Development
HP pioneered ink jet technology in the 1980s, leading the low-end printer market.
Dot Matrix Printers
Dot Matrix Printers
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Deskjet Platforms
Deskjet Platforms
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Beachhead Strategy
Beachhead Strategy
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Horizontal Leverage
Horizontal Leverage
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Vertical Scaling
Vertical Scaling
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Product Portfolio
Product Portfolio
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Black & Decker
Black & Decker
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Double Insulation
Double Insulation
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Armatures
Armatures
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Economies of Scale
Economies of Scale
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Uncoordinated Designs
Uncoordinated Designs
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Production Line Changeovers
Production Line Changeovers
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Customer Loyalty
Customer Loyalty
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Entrepreneurial Mindset
Entrepreneurial Mindset
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Product Family Evolution
Product Family Evolution
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Market Applications of Technology
Market Applications of Technology
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Common Technical Building Blocks
Common Technical Building Blocks
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Continuous Product Platform Renewal
Continuous Product Platform Renewal
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Hon Furniture Company
Hon Furniture Company
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Upper Market Tiers
Upper Market Tiers
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Low-End Market Entry
Low-End Market Entry
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Market Segmentation Grid
Market Segmentation Grid
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Emerging Market Segments
Emerging Market Segments
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Derivative Products
Derivative Products
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Competitive Benchmarking
Competitive Benchmarking
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Performance Drivers
Performance Drivers
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Future Platform Initiatives
Future Platform Initiatives
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Horizontal Scaling
Horizontal Scaling
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Skin Into The Game
Skin Into The Game
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Compaq History
Compaq History
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Revenue Growth
Revenue Growth
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R&D Spending
R&D Spending
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Market Segmentation
Market Segmentation
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Growth Opportunities
Growth Opportunities
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Market Niche Data
Market Niche Data
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Defining Platforms
Defining Platforms
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Emerging Segments
Emerging Segments
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Study Notes
The Power of Product Platforms
- The book is about building value and cost leadership through product platforms.
- The authors, Marc H. Meyer and Alvin P. Lehnerd, dedicate the book to mentors, colleagues, and readers to help transform wishes into a future that is productive and prosperous.
- The book covers product families, platforms, derivative products, and their renewal using specific rules and tools.
Contents Overview
- Preface: Discusses the importance of robust products for corporate success and continuity in technology transitions. Highlights companies like Motorola, HP, Intel and Microsoft as examples of successful product renewal. Explores what differentiates successful companies from failing ones in the context of product innovation.
- Chapter 1: Discusses the power of product platforms in product-making enterprises. Explores product portfolios evolving through technology enhancements, highlighting those that lead to market success and those that do not. Discusses the creation of product families (related products sharing common technology to address market demands).
- Chapter 2: Focuses on efficiently managing product platforms over successive generations. Discusses examples of how new product development can be systematically planned using platforms rather than individually; this includes the example of Hewlett Packard’s ink jet printers. The chapter also talks of a thought architecture composed of 5 fundamental principles for management.
- Chapter 3: Delves into platform strategy, showing how product platforms can unlock new market opportunities, using examples of market segmentation grids to determine the company's strategic fit.
- Chapter 4: Explains "composite design" methods for the effective engineering of platform architectures.
- Chapter 5: Detailed instruction on organizing and structuring efforts in product development.
- Chapter 6: Provides new metrics for evaluating product family performance.
- Chapters 7 & 8: Extend the discussion of platform and product family principles to software and information products, and their respective applications, including internet-based products and services.
- Chapter 9: Summary of all previous chapters, providing a process for effective product development management.
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