GMS 401 Lecture Notes - Lecture 4: Machine Tool, Jan Carlzon, Quality Function Deployment

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 401
• Professor: Omid Jahidi

Document Summary

Developing new products or modifying existing products so they appear new, and offering those products to current or new markets. An effective product strategy links product decision with: cash flow, market dynamics, product life cycle, orga(cid:374)izatio(cid:374)"s (cid:272)apa(cid:271)ilities, requires a creative marketing and communications plans. Product development diversification strategy: a new product is developed for a new market with. And/or revenues and profits are stagnant or falling there is little or no opportunity for growth: ex. Microsoft introducing new products, they usuall(cid:455) o(cid:374)l(cid:455) i(cid:374)trodu(cid:272)e soft(cid:449)are"s but they made surface which a new technology for them. H&m producing new types of categories (homes, skin, makeup) they entered diverse sector. It is generally aimed at existing markets, although a side benefit may be the capturing of new users for the new product: ex. iphones, Revolutionary product development: revolutionary products are those for which there was no real prior need. Before these products appeared o(cid:374) the (cid:373)arket, (cid:272)o(cid:374)su(cid:373)ers did(cid:374)"t k(cid:374)o(cid:449) the(cid:455) (cid:374)eeded the(cid:373)