Exam 4: The New Product Development Process: Managing the Idea Infrastructure

________ represents how much money a company makes from the ongoing business of selling its goods and services.

Customer focus requires that businesses look not only at their own operations, but also at external ________.

Fill in the Blank(s) -Apple has really_______ the direction and future of its product.

Fill in the Blank(s) -Many "_______" issues should be considered when a company is designing its products and services.

Fill in the Blank(s) -The original IBM PC became a_______ product.

As taught in any basic marketing class, the marketing mix is made up of four Ps: product, price, place, and promotion.

What are the 4 P's of marketing? Explain what some people have started terming as the 5^th 'P'.

Fill in the Blank(s) -Intel has developed an excellent, formalized_______ process for new product development.

Cost management and product development beyond the concept stage are also marketing's areas of expertise.

Fill in the Blank(s) -Design for_______ represents the realization by many organizations that all change does not represent true innovation or improvement.

Fill in the Blank(s) -Making the wrong decision on what to do internally versus what to_______ can make or break a company.

Top management often gives the new product team responsibility for the entire customer satisfaction cycle.

It is the job of all members of the supply chain to understand, serve, and satisfy the end customer.

What are your takeaways from this chapter? List at least 4. Understand customer needs Involve finance and accounting early in the product development cycle Risk management is a critical dimension of new product and service development. Risk management includes (1) early supplier involvement to reduce supply risks, (2) ensuring that the company is not outsourcing core competencies, and (3) design considerations such as whether products should be modular or integral. The interface between marketing and SCM lies in developing the right product at a fair price and then positioning it properly in the marketplace.

Cash flows out of the company when receivables are collected; the company borrows money, or sells shares of stock.

The NPD process and target costing process are ________ processes.

Fill in the Blank(s) -EVA = Operating Profit -_______ - (Total Capital employed - Company's Cost of Capital)

Getting ________ involved early through an ESI program is critical to the success of complex development efforts.

Explicitly focusing on downstream requirements can increase risks in the development and introduction process.

The interface between marketing and SCM lies in developing the right product at a fair price and then positioning it properly in the marketplace.