Chapter 3 Flashcards
(50 cards)
Q: Definition — Product platform strategy
A: Using a common core technology or architecture as the launchpad for multiple future products, gaining speed and cost economies.
Q: What is modularization in product design?
A: Decomposing a complex system into interchangeable subsystems (“modules”) so variants can be mixed-and-matched quickly.
Q: Differentiate bottom-up vs top-down platform creation.
A: Bottom-up consolidates existing components into a platform; top-down designs the platform first, then spins off a family of products.
Q: Definition — Brand platform
A: An established brand (and its strategy) used as a springboard for many related products.
Q: What is brand equity?
A: The added marketplace value that an established brand name contributes to a product.
Q: Definition — Category platform
A: A platform defined by a product type (e.g., SUVs) or a customer category (e.g., gamers).
Q: List the six modern societal trends that spark innovation.
A: Just-in-time life, sensing consumers, search for enoughness, the transparent self, virtual made real, co-creation.
Q: Describe “just-in-time life.”
A: Consumers make on-the-spot decisions using real-time information.
Q: What does “sensing consumers” refer to?
A: People now have technology that lets them detect and quantify their environment (e.g., wearables, IoT).
Q: Define the trend “in search of enoughness.”
A: Growing preference for simpler, quality-of-life–focused consumption over excess.
Q: What is meant by “the transparent self”?
A: Vast personal data is now visible to product managers, enabling hyper-personalization.
Q: Explain “virtual made real.”
A: The line blurs between digital and physical realms (AR, VR, digital twins).
Q: What does co-creation enable?
A: Customers interact and collaborate easily—often online—to shape new offerings.
Q: Definition — Product–market matrix
A: A grid that rates market novelty vs product novelty to gauge risk.
Q: At what point in the product–market matrix is risk highest?
A: When both product type and market behavior changes are rated “great.”
Q: Definition — Product Innovation Charter (PIC)
A: A micro-level mission statement guiding new-product activity: why, where, goals, and constraints.
Q: Why is a PIC crucial for focus?
A: It prevents teams from chasing unfitting opportunities and aligns delegation.
Q: Name the three sections of a PIC.
A: Background, area of focus (arena), goals-objectives & guidelines.
Q: List the four strength types used to focus innovation in a PIC.
A: Technology, product experience, customer franchise, end-use experience.
Q: Definition — Technology driver
A: A core technical capability the firm leverages across products (lab or non-lab).
Q: What does T-P-M linkage stand for?
A: Translating technical specs → product features → market needs.
Q: Definition — Customer-group driver
A: Targeting a specific customer segment (or even a single big customer) as the innovation focus.
Q: What is a dual-drive strategy?
A: Combining one technology driver with one market driver for sharper focus.
Q: Distinguish goals vs objectives in a PIC.
A: Goals = long-range directional aims; objectives = short-term measurable targets.
