To develop products effectively, you first need to decide what kind of products, and which markets you will sell them into. As a starting point to product development activity, first set out product strategy: the main strategic issues and what you intend to do to satisfy customers.

Chapter Contents:

• 7.1 The products you make
• 7.1.1 Devising a strategy
• 7.2 Stick to your knitting
• 7.2.1 But continually increase your competencies
• 7.2.2 Technology road mapping
• 7.2.3 Your design and technology level and your strategy
• 7.2.4 Should you give customers exactly what they want?
• 7.3 Doing nothing may be high risk
• 7.3.1 Plan your route
• 7.4 Your ideas-generating mechanisms
• 7.4.1 Finding viable ideas
• 7.5 Generating product ideas
• 7.5.1 Internal company ideas
• 7.5.2 Ideas from customers and agents
• 7.5.3 Ideas from suppliers
• 7.5.4 Personnel policy
• 7.5.5 Licensing
• 7.5.6 Systematic desk research
• 7.5.7 Exhibitions
• 7.5.8 Think tanks and ideas groups
• 7.5.9 University research
• 7.5.10 New production technology and methods
• 7.5.11 Directories
• 7.6 Why do customers buy your product?
• 7.6.1 Comparing yourself with competitors
• 7.6.2 Perceived value
• 7.7 Interaction with manufacturing strategy
• 7.7.1 How do the two interact?
• 7.7.2 Should you move manufacture to low labour-cost areas?
• 7.7.3 How can you cut your manufacture cost in the United Kingdom?
• 7.7.4 Consider alternative manufacturing strategies
• 7.7.5 Use product development to cut cost
• 7.8 Operational considerations
• 7.8.1 Incremental development - your products' age profile
• 7.8.2 Is centralised development best?
• 7.8.3 What you learn from others
• 7.8.4 Effect of product strategy on sales growth
• 7.8.5 Share your strategy with that of your key suppliers
• 7.9 Devise and communicate your product strategy down the organisation
• 7.10 The key factors for a successful process
• 7.11 Your company's name

Inspec keywords: product development; customer satisfaction; market research; strategic planning

Other keywords: product strategy; product development; customer satisfaction

Subjects: Design; Marketing and sales; Planning