Concise yet comprehensive, Product Planning Essentials addresses the complex, interdisciplinary nature of product development and product management. It covers strategic issues that emerge during the product life cycle, including identifying opportunities, idea generation and evaluation, technical development, commercialization, and eventual product dismissal. Special topics include public policy, international issues, and intellectual property. An interesting summary of product development best practices from several companies appears at the end of the book. Instructors, students and practitioners will appreciate the balanced managerial and how-to orientation.
Chapter One: Introduction
Companies represent themselves in the marketplace by way of their offerings. These offerings can be in the form of products, services, or ideas and, in many cases, a combination of all three.
The objective in providing such offerings can derive from many reasons. Profitability is often a key objective, directly corresponding to a company's bottom line. Other objectives, such as company image, company awareness, customer satisfaction, and market share, are common as well, and these are important for long-term viability and competitiveness. In light of these objectives, it should be evident that the success of a company offering has strategic implications. However, as will be discussed later in this chapter, success is not guaranteed. Special efforts are necessary to increase the likelihood of success.
Such efforts ...