Innovation in Product Development

Questions and Answers

What is the primary focus of the capstone course stated in the course description?

Supply chain management

Financial analysis in marketing

Operations management functions

Innovation in product development (correct)

Which of the following is NOT a course intended learning outcome?

Explain product design and development concepts

Enhance software development skills (correct)

Analyze products in the market

Develop leadership in product design

What does CILO 2 focus on regarding students' abilities?

Analyzing market products and competitiveness (correct)

Designing marketing strategies

Implementing sustainable practices in product development

Creating product prototypes

Which graduate attribute emphasizes the importance of ethical decision-making?

An ethical and responsible citizen Signup and view all the answers

What is one primary benefit of utilizing excess production capacity for a company?

Creating new products to match seasonal demand Signup and view all the answers

Which outcome relates to understanding the marketplace in the course description?

CILO 3 Signup and view all the answers

What approach does the course primarily take towards product development?

Practical applications and case studies Signup and view all the answers

Which of the following best describes the term 'design' in the context provided?

Arranging existing things in a new way to meet societal needs Signup and view all the answers

What is indicated as a fundamental issue in the product development process in the course?

Conception, development, and launch of new products Signup and view all the answers

What is one of the four C’s of design according to the content?

Creativity Signup and view all the answers

What does the engineering design process primarily affect regarding a product?

The product’s cost and quality Signup and view all the answers

Which graduate attribute best relates to ongoing education and adaptability?

A lifelong learner Signup and view all the answers

Why is creativity important in product design?

It drives the development of unique solutions to meet market needs Signup and view all the answers

What is the primary focus of the product definition stage in product development?

Refining product strategy and building a product roadmap. Signup and view all the answers

Which method involves modifying and adapting product concepts during the idea generation phase?

SCAMPER Method. Signup and view all the answers

What does idea screening accomplish in the product development process?

Eliminates less promising ideas to focus on the best. Signup and view all the answers

Which of the following is NOT a factor to consider during the idea generation stage?

Prototyping Requirements. Signup and view all the answers

What is the main purpose of conducting a feasibility analysis in the prototyping stage?

To assess if the product's workload and timeline are achievable. Signup and view all the answers

What does a value proposition focus on in product development?

The problems the product is solving. Signup and view all the answers

In the product development process, which stage emphasizes the use of market research for concept testing?

Idea Generation. Signup and view all the answers

What is a key outcome of the product definition stage related to competitor analysis?

Mapping out distribution strategies. Signup and view all the answers

What is the primary purpose of producing a mockup during the initial design stage?

To gather initial feedback on the prototype Signup and view all the answers

What role does sourcing of materials play in the initial mockup design?

It determines the design aesthetic of the mockup Signup and view all the answers

During which stage is validation and testing performed in product development?

Before product launch Signup and view all the answers

Why is developing new products considered essential for companies?

To fulfill and retain consumer demands Signup and view all the answers

What is one of the key factors driving the need for new product development?

Increased competition among firms Signup and view all the answers

How does diversification of risk relate to new product development?

It helps mitigate failures by offering product variety Signup and view all the answers

What is a potential benefit to a company that frequently develops new products?

Increased reputation and goodwill Signup and view all the answers

What can help companies overcome seasonal fluctuations in demand?

Utilization of excess capacity Signup and view all the answers

What is primarily emphasized in CILO 5 regarding product concepts?

Satisfying real needs of consumers Signup and view all the answers

Which topic is covered during the 1st to 6th weeks of the course?

Introduction to Product Development Signup and view all the answers

What is one of the characteristics of successful new product development mentioned in the syllabus?

Incorporation of sustainability Signup and view all the answers

Which of the following is NOT listed as a course requirement?

Industry Internships Signup and view all the answers

What is the focus of the 7th to 12th weeks in the course schedule?

Product Life Cycle Management Signup and view all the answers

Which CILO is related to industrial design in the latter part of the course?

CILO 1 Signup and view all the answers

In the context of product development, what should be avoided according to the basic philosophies on bad design?

Ignoring user needs Signup and view all the answers

Which concept does the Boston Matrix relate to in the course?

Market Growth Potential Signup and view all the answers

What is the role of design for manufacturing in the product development process?

Optimizing product assembly and production Signup and view all the answers

What key evaluation criteria are expected in new product development processes?

Market feedback and iteration Signup and view all the answers

Study Notes

Course Overview

Capstone course focused on product conceptualization, development, and market launch.
Integrates learning from operations management: PLAN, SOURCE, MAKE, DELIVER, and DEVELOP.

Course Learning Outcomes (CILO)

CILO 1: Develop leadership in product design within engineering disciplines.
CILO 2: Analyze market products and assess competitiveness.
CILO 3: Gain marketing management knowledge to understand marketplace dynamics.
CILO 4: Explain product design and development concepts.
CILO 5: Conduct advanced research on product concepts that meet consumer needs using IE tools.

Course Structure

Weeks 1-6: Introduction to product development, new product design responsibilities, and marketing management philosophies.
Weeks 7-12: Focus on product lifecycle management, characteristics of successful product development, and new product development stages.
Weeks 13-18: Explore product architecture, industrial design, and design for manufacturing.

Importance of New Products

Essential for company survival and competitiveness.
Address changes in market needs, technological advancements, and replace outdated products.
Foster reputation and goodwill by demonstrating innovation.

Stages of Product Development

Idea Generation:
- Brainstorm and evaluate new product ideas via market research and customer needs.
- Utilize SWOT analysis and SCAMPER method for differentiation.
Product Definition:
- Refine product strategy and create a clear roadmap.
- Define value proposition, metrics for success, and marketing strategies.
Prototyping:
- Identify potential risks and validate product ideas through feasibility analysis.
Initial Design:
- Create product mock-ups and gather initial feedback for improvements.
Validation and Testing:
- Ensure all aspects of product performance meet quality standards before launch.
Commercialization:
- Launch product to market and implement it on appropriate platforms.

Key Factors for New Product Development

Market Changes: Adapting to evolving customer needs.
Technological Changes: Incorporating new manufacturing methods and innovations.
Increased Competition: Developing unique products to maintain consumer interest.
Risk Diversification: Creating product variety to mitigate market risks.
Utilization of Excess Capacity: Maximizing resources during off-peak seasons by creating new products.
Growth and Development: Leveraging creativity for expanded market share.

Design Principles

Definition of Design: Combining existing elements in innovative ways to satisfy needs.
Importance of Engineering Design Process:
- Influences product cost and quality.
- Aims for efficient development of cost-competitive products within short timelines.

4 C’s of Design

Creativity: Innovating new solutions.
Choice: Making selections from potential solutions.
Compromise: Balancing competing design requirements.
Complexity: Managing multiple variables during the design phase.

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Description

Explore the fundamentals of innovation in product development through this capstone course. The focus is on integrating prior learning from various operations management functions such as PLAN, SOURCE, MAKE, and DELIVER, culminating in PRODUCT DEVELOPMENT. Understand how new products are conceptualized, developed, and launched to the market.