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Questions and Answers
What is the key strategic activity in many firms?
What is the key strategic activity in many firms?
- Marketing
- Supply chain management
- Product design (correct)
- Financial management
What is the objective of product design?
What is the objective of product design?
- Create a good or service with excellent functional utility and sales appeal at an acceptable cost and within a reasonable time (correct)
- Maximize profit margin
- Maximize production efficiency
- Minimize marketing expenses
What does product design describe the process of?
What does product design describe the process of?
- Analyzing financial statements
- Developing marketing campaigns
- Managing inventory and logistics
- Imagining, creating, and iterating products that solve users' problems or address specific needs in a given market (correct)
Why is product design a critical factor in organizational success?
Why is product design a critical factor in organizational success?
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What is the key to successful product design?
What is the key to successful product design?
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Study Notes
Product Design
- Key strategic activity in many firms
Objectives and Process
- Objective of product design is to create a product that meets customer needs and expectations
- Product design describes the process of creating and improving the design of a product or service
Importance of Product Design
- Product design is a critical factor in organizational success
Key to Success
- Key to successful product design is understanding customer needs and preferences
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