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 Two: Strategy and Process
Strategy and Process
Successful product planning companies commonly share the following characteristics:
- They have clearly defined goals.
- They seek future customer needs.
- They build organizations dedicated to accomplishing focused goals.
- They partner with customers in the development process.
Such characteristics are ingrained into the company's strategic planning process, permeating all activities in the company. Among the various ways to envision the strategic planning process, strategic planning can be illustrated as a pyramid, with mission at the top, objectives at the next level, and goals, strategies, and programs at the lower level (see Exhibit 2.1).
By definition, mission defines the company's central purpose, direction, and scope. Objectives derive from the mission and represent specific elements to be achieved by the company (objectives are often prefaced by the phrase to be). ...