Marketing 410
Elements of a concept document for a tangible product include:
1) Drawing or model, 2) Descriptive text (including targeted emotions) and 3) Technology choice and form.
A minimum viable product is the smallest set of features or activities needed to complete:
"A Build-Test-Learn" Cycle
A product concept answers the question
"HOW" to meet customer needs.
Quality Functional Deployment is also referred to as:
"House of Quality" (referring to first house). It translates needs (whats) into specs (hows), and links customer needs to shop floor controls.
Four things management can do to improve a team's problem solving ability:
1. Reduce Functional area 2. Add unfamiliar faces 3. Encourage experimentation 4. monitor progress publically
The three lean start up principles are:
1. Summarize hypotheses in a business Model Canvas 2. Test Hypotheses through Customer Development 3. Use Agile Product development to create a minimum Viable Product
The four step process of the brokerage cycle includes:
1. capture good ideas 2. keep ideas alive 3. Imagine new uses and 4. put promising concepts to the test
The three things that Agile or Flexible Product Development process must do are:
1. continually sense customer needs 2. test alternation solutions 3. Integrate acquired knowledge
According to the article Breakthroughs and the Long Tail of Innovation the two types of collaboration are:
Brokerage and Cohesion
Design thinking uses a
Design Paradigm(creative team work, divergent and convergent, insight driven)
Design Thinking strikes a balance between constraints of:
Desirability, Feasibility and Viability
The Design Thinking process moves the group through three design spaces ____, ______, ______ using convergent and divergent thinking methods independently (divergent and convergent thinking do not mix well).
Inspiration, Ideation and Implementation)
The KANO method classifies needs into three main groups:
Must-Haves, Linear Satisfiers, and Delighters.
According to the article Breakthroughs and the Long Tail of Innovation, innovation is a process of:
Recombinant Search
According to the article, How the Lean startup changes everything, A Startup is a temporary organization designed to search for
a repeatable and scalable business model
Design thinking is a highly non-linear (messy) process. Some have referred to it as focused chaos. The five process steps are:
a. Empathize b. Define c. Ideate d. Prototype e. Test
The advantages of the stage-gate process are:
a. Structured approach to new product development and selection b. Provide overview to management enabling decision making and resource allocation in a dynamic environment c. Create realistic expectations of potential project success for project team members d. Can provide feedback to diagnose problems with a company's product development process
traditional Product Development uses
an Analytical Paradigm (solve for the variable, convergent, data driven).
Traditional product development is called _____ and seeks to
fully specify the product prior to beginning development.
Agile Product Development begins product design before all the requirements are known seeking to launch multiple Beta releases as an experiment:
in order to learn more about the market, user needs and technical possibilities.
The most common structured approach to product development:
stage gate method
Excessive functional diversity challenges:
the teams development and superordinate identity
The best way to manage the product development funnel is
using the Stage Gate Process. The Stage Gate Process organizes a product development project into a series of gates and stages. Each gate is a project review and a go/no-go decision for release into the next stage. If successful, the project team is provided a duration, budget and deliverables for the next stage, and the decision criteria for the next gate's go/no- go decision.
