Product Design and Development Management

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Product Design and Development Management I have read and understood the rules on cheating, plagiarism and appropriate referencing as outlined in my handbook and I declare that the work contained in this assignment is my own, unless otherwise acknowledged.

Signed: NWANKWO K.N.....................

MODULE TITLE: Product Design and Development Management MODULE CODE: MODULE DATE: 05EB02 21st – 25TH November 05

NAME: NWANKWO KENECHUKWU NKEMAKOLAM GROUP: 3

Kenechukwu Nwankwo

1

Product Design and Development Management

TABLE OF CONTENT
TABLE OF CONTENT......................................................................................................................... 2 1. PART A .......................................................................................................................................... 3 1.1 INTRODUCTION ........................................................................................................................ 3 1.2 LITERATURE REVIEW. ...................................................................................................... 4

1.3 KEY FACTORS OF A CREATIVE ORGANISATION ............................................................. 5 1.3.1 BARRIERS TO IMPLEMENTING CREATIVITY IN AN ORGANISATION .................. 6 2 PART B............................................................................................................................................... 8 2.1 PRODUCT DEVELOPMENT PROCESS. .................................................................................. 8 2.1.1 PHASES OF PRODUCT DEVELOPMENT PROCESS .................................................... 10 2.2 COMPARISONS OF DIFFERENT PRODUCT DEVELOPMENT PROCESSES .................. 15 3 PART C............................................................................................................................................. 16 3.1 CASE STUDY ANALYSIS ....................................................................................................... 16 3.1.1GROUP DETAILS ............................................................................................................... 16 3.1.2 MARKET GAP ANALYSIS ............................................................................................... 16 3.1.3 NPI APPROACH AND PRODUCT DESIGN.................................................................... 16 3.1.4 COST / MARKET FORECAST / FINANCIAL ANALYSIS ............................................ 17 3.1.5 OPERATION AND MANAGEMENT ............................................................................... 17 3.1.3 CASE STUDY LESSONS................................................................................................... 17 4. CONCLUSIONS............................................................................................................................. 18 5. REFERENCES............................................................................................................................... 19

Kenechukwu Nwankwo

2

Product Design and Development Management

1. PART A
1.1 INTRODUCTION
The aim of any business is to make money now and in the future. Maintaining the growth of a business also depends on many factors. For any firm to succeed, it must identify its core competencies. A core competency can be described as what an enterprise can do better than its competitors. This core competency can range from innovation, product design to investment in employees. The identification and improvement of the core competency can be used as a long term competitive advantage and survival of the business. According to Chase and Aquilano [1], an enterprise’s core competency should have the following three characteristics: • • • It should provide a potential access to a wide variety of markets. It increases the perceived customer benefits It is hard for competitors to imitate

In today’s modern world of business, product design and...
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