Product Management Techniques
PRODUCT MANAGEMENT TECHNIQUE FEEDBACK 02-14-22
1) Determines which car in Maverick Auto Company's product portfolio is in decline. NOT YET MASTERED!!!!!
Please be clear when recommending which Maverick vehicle needs to be replaced.
2) Explains the reasoning for why that particular product is in decline, using three customer insights from the scenario to justify the recommendation. NOT YET MASTERED!!!!!
Please use the details from the Project Instructions to determine at least 3 reasons why your chosen Maverick vehicle is in decline.
3) Provides 5—10 different questions that would help screen various ideas. NOT YET MASTERED!!!!
Good start on the Phase and Gate Map deliverable. Please be sure your questions in Gate 1 are specific to the Maverick vehicle you recommended for replacement. The rubric requires at least 5 questions related to idea screening concepts to emphasize factors such as differentiation, market, profit, time frame, capability, technical resources and feasibility. The questions for Gate 1 should be product focused and easily answered with a response of ""Yes"" or ""No"".
Think about the following to help you get started: - How do company objectives relate to new product development? - What are at least 5 questions that could be presented related to idea screening concepts to emphasize factors such as differentiation, market, profit, time frame, capability, technical resources, and feasibility?
The following Learning Resources can assist with your revision"" - Principles of Management, Section 2.3 - Video: The Benefits of Product Portfolio Management - Video: The Product Life Cycle Explained
4) Phase 1: Provides 5—10 different techniques or activities that should take place to determine if a product can move on to the next phase, also indicating which stakeholders are required for each technique or activity. NOT YET MASTERED!!!!!
Good start on the activities needed on Phase 1. The marketing and financial activities are well done. Please be sure to include activities on technical specifications and intellectual property. Please consider the following: How are technical specifications and intellectual property related? What are the activities that will need to take place during this phase? How do these activities include assessments or analyses that provide the necessary information to further evaluate the project based on information needed in the areas of the technical specifications, financial objectives, and intellectual property (patent/trade secret considerations? Why is it beneficial for the company to understand market conditions and financial objective? Who are the responsible departments/employees required for the activities? Please provide at minimum five techniques or activities that are needed to help determine if a product can move to the next phase with techniques and activities in the areas of the technical specifications, financial objectives, and intellectual property (patent/trade secret) and include the responsible departments/employees required for the activities. Please refer to the following Video: Understanding Customer Needs / Video Stage-Gate in a Nutshell / What Is a Customer Need? // https://www.smartsheet.com/phase-gate-process Power Your Product Development with Phase Gate Kate Eby, January 9, 2019.
5) Gates 2, 3, 4 and 5: Writes 8—15 questions that help determine if product ideas should be moved onto the next phase. NOT YET MASTERED!!!!!
Good start on Gate 2. Please be more specific in your questions. The rubric requires at minimum 8 questions that help determine if product ideas should be moved on to the next phase for the project. A gate consists of questions that will be asked about the project in order to determine whether the project should be passed on to the next phase. These questions are similar to those asked in Gate 1, but are much more specific. Your questions should include some of the following topics: market analysis, market strategy, and resource allocation. Remember, each of these gates is an opportunity for the organization to reevaluate the idea to make sure it is still feasible and worthwhile to move forward given the information gathered during the preceding phase. Think about the following to get started: - What are two of the five techniques for assessing market size, target markets, and product offerings? - What are customer insights to identify products to keep or cease? - What are the three components of a customer need? - How can financial objectives help to determine if a product moves forward? - What is a target market and based on the project particulars - which target markets or customer segments does the company need to focus on and why? - How important is product liability when assessing whether to offer a new product in the marketplace? Consult the following Learning Resources to help with your revision: Principles of Management, Section 5.4 / Principles of Management, Section 6.2, Section: Management by Objectives and the Balanced Scorecard / E-commerce Product Liability 101: Protecting Yourself and Your Business
6) Phase 3: Provides techniques and activities that will help the design and development of a prototype, providing 5—10 techniques for stakeholders. NOT YET MASTERED!!!!!
Good start on the activities of prototyping and intellectual property! Please be sure Phase 3 includes 5 to 10 techniques/activities on the following topics: prototyping, operations review, finance analysis, intellectual property, technical challenges, market research activities, and product positioning in the marketplace. Consider the functional areas of marketing, sales, operations/production, distribution, finance, and intellectual property. Also, be sure to identify participating departments/employees. Think about the following while crafting your revision: - What are at least 5 strategies for assessing operational activity inside a company with a new product? - How does prototyping help assess cost before launching the final product? - What marketing efforts could support the design and development phase? - When considering development how does market research and operations work together? - Who are the responsible departments/employees? The following Learning Resources can assist with your revision: Product Management Considerations/Resource: Reading: Reading: Design Thinking: Get Started With Prototyping / Reading: Ten Effective Ways to Protect Your Intellectual Property / Resources: Principles of Management / Section 5.4, Capabilities Consumer Behavior Today, Section 1.5.
7) For each phase, supports recommendations with examples and reasoning to justify the techniques that have been chosen. NOT YET MASTERED!!!!!
As you make your revisions please be sure to add a very brief discussion supporting your reasoning and including at least 1 example for each phase & gate 2 to justify your chosen techniques. Each description should be related to what gate/phase requires. Think about: Has each phase and gate 2 been addressed with examples and reasoning to justify the techniques or activities that have been presented? Refer to the Phase and Gate Map Template and Project Instructions: Scenario to help with your revisions.
8) Clearly conveys meaning with correct grammar, sentence structure, and spelling; shows understanding of audience and purpose. NOT YET MASTERED!!!!!
Please review the Professional Recommendation deliverable as the writing is very awkward. Did you use a thesaurus? If this is the case, a thesaurus is a useful tool in academic writing. However, be sure your writing is clear and appropriate for your audience. For example, the automobile company in the project is "Maverick," but the company name appears to have been changed to possible synonyms. This change makes the recommendation unclear to the audience. As you make your revisions to the project, please keep in mind your audience and purpose.
9) Lists sources where needed using citation methods with no major errors. NOT YET MASTERED!!!!!
Your citations look good so far. Since you have more writing to do, I will review this element next submission.