Strategic Elements Flashcards
essential for firms to gain a competitive advantage and satisfy consumer needs
New Products
TRUE or FALSE
New products are a big business.
TRUE
TRUE or FALSE
Accelerating innovation and business growth through innovation are the top business challenges.
TRUE
What type of firms have higher success rate, higher sales, and higher profits from new products?
The Best
TRUE or FALSE
GLOBALIZATION enhances a need for specialization.
TRUE
TRUE or FALSE
NEW products teams are made of new products people.
TRUE
categories of new products
New-to-the-world products
New-to-the-firm products, or new product lines
Additions to existing product lines
Improvements and revisions to existing products
Repositionings
Cost reductions
Strategic Elements of Product Development
- New products process
- Product innovation charter
- Product portfolio
What Strategic Element helps the firm assess which new prods would be best?
Product Portfolio Management
What Strategic Element helps the firm assess which new prods would be best?
Product Portfolio Management
provides guidance to all functional areas involved in innovation
Product Innovation Charter
