Product Development and Innovation
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Questions and Answers

What is a product platform?

  • A common structure for developing related products (correct)
  • A structure for developing products in different industries
  • A structure for developing only one type of product
  • A structure for developing unrelated products

    • What is a product platform?

  • A document for guiding new product strategies
  • A structure for developing unrelated products
  • A tool for new product teams in uncharted territory
  • A common structure for developing related products (correct)

    • What can the term "platform" refer to?

  • Only design
  • Technology, design, or subsystems (correct)
  • Only subsystems
  • Only technology

    • What can a platform refer to?

    <p>Technology, design, or subsystems</p> Signup and view all the answers

    What other types of platforms are significant in business?

    <p>Both brand and category platforms</p> Signup and view all the answers

    What are brand and category platforms significant in?

    <p>Business</p> Signup and view all the answers

    What are some modern trends in product development?

    <p>Just-in-time life, sensing consumers, and co-creation</p> Signup and view all the answers

    What are the six modern trends mentioned in the text?

    <p>Just-in-time life, sensing consumers, and co-creation</p> Signup and view all the answers

    What is the product innovation charter?

    <p>A document for guiding new product strategies</p> Signup and view all the answers

    What is the product innovation charter?

    <p>A document for guiding new product strategies</p> Signup and view all the answers

    What is the difference between goals and objectives?

    <p>Goals are short-term, specific measures of accomplishment, and objectives are longer-range, general directions of movement</p> Signup and view all the answers

    What are goals and objectives related to?

    <p>Profit, growth, or market status</p> Signup and view all the answers

    Why is the product innovation charter valuable?

    <p>It outlines conditions for new product activities</p> Signup and view all the answers

    What is the PIC?

    <p>A document for guiding new product strategies</p> Signup and view all the answers

    Study Notes

    • A product platform is a common structure for developing related products.
    • Platform can refer to technology, design, or subsystems.
    • Brand and category platforms are also significant in business.
    • Six modern trends include just-in-time life, sensing consumers, and co-creation.
    • The product innovation charter is a document for guiding new product strategies.
    • The PIC outlines conditions for new product activities.
    • Goals are longer-range, general directions of movement.
    • Objectives are short-term, specific measures of accomplishment.
    • Goals and objectives can be related to profit, growth, or market status.
    • The PIC is an invaluable tool for new product teams in uncharted territory.

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    Description

    Test your knowledge on product platforms, modern trends in product development, and the product innovation charter with this informative quiz. Learn about the different types of platforms and their significance in business, as well as the importance of setting clear goals and objectives. Discover how the PIC can guide new product strategies and help teams navigate uncharted territory. Keywords: product platform, brand, category, trends, innovation charter, goals, objectives, profit, growth, market status.

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