12/2/2008




                                                                 Economic Success of Firms?
                ...
12/2/2008




                                                                                                        Dura...
12/2/2008




        Concept Development - Ten Steps
    1. Identify Customer Needs
    2. Establishing Target Specificat...
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PD73002 Product Development

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PD73002 Product Development

  1. 1. 12/2/2008 Economic Success of Firms? 1. Identify the needs of customers PD73002 Product Design Concept & Application 2. Quickly create products that meet that needs Product Design & Development 3. Can be produced at low cost Is it a marketing problem? Design problem? Manufacturing problem? Dr. Krates Ng Fall 2008 ALL of the above! 1 2 Characteristics of Successful Who Designs and Develops Product Development Products • Product Quality • Marketing • Product Cost – Mediates interactions between firms and customers • Development Time – Identify product opportunities • Development Cost – Define market segmentation • Development Capability – Identify customer needs • Satisfy Other Stakeholders’ Interests? – Set prices – Product launch and promotion 3 4 • Design • Manufacturing – Engineering design (mechanical, electrical, – Design, operate, coordinate the production software…etc.) system in order to produce the product – Industrial design (aesthetics, ergonomics, user – Purchasing, distribution, installation. interfaces) 5 6 1
  2. 2. 12/2/2008 Duration and Cost of Product A Typical Product Development Team Development – Some Cases From Product Design and Development, Ulrich & Eppinger, McGraw-Hill 2008 7 From Product Design and Development, Ulrich & Eppinger, McGraw-Hill 2008 8 Challenges of Product Development • Trade-offs – Features Vs Costs • Dynamics – Changes (technology, customer, competitor, macroeconomic environment) • Details – A screw can add millions of $$$ • Time pressure • Economics From Product Design and Development, Ulrich & Eppinger, McGraw-Hill 2008 9 10 A Generic Development Process – Six Phases 1. Planning 2. Concept Development 3. System-level Design 4. Detail Design 5. Testing and Refinement 6. Production Ramp-up 11 12 From Product Design and Development, Ulrich & Eppinger, McGraw-Hill 2008 2
  3. 3. 12/2/2008 Concept Development - Ten Steps 1. Identify Customer Needs 2. Establishing Target Specifications 3. Concept Generation 4. Concept Selection 5. Concept Testing 6. Setting Final Specifications 7. Project Planning From Product Design and Development, Ulrich & Eppinger, McGraw-Hill 2008 8. Economic Analysis 9. Benching of competitive Analysis This is a Market-Pull Approach 10. Modeling and Prototyping 13 14 Adapting the Generic Product Development Process 15 From Product Design and Development, Ulrich & Eppinger, McGraw-Hill 2008 3

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