Product Literature Review

Product Literature Review

Product Process Attributes

A study by De Medeiros al (2014) demonstrates that innovative product development involves various activities such as identifying the market and product launch. Therefore, it is all about targeting clients. In addition, the generic process of product development is sequential-based that relies on a chronology of development activities.

Incorporating all the departments in the development procedure, the stage-gate model is significantly cross-functional. With a robust market orientation it promotes a holistic evaluation of the product during development procedure.

Past studies show that a part from technical elements, organisations are required to perform an assessment of the market, economic and legal issues of the product on a regular basis. Consequently, using accurately defined parameters and decision criterion at each phase, this process fosters task accomplishments as well as formulation of decisions. Therefore, it presents a foundation for effectively addressing the market uncertainties surrounding product development (Beuren et al. (2013).

To adequately enhance the effectiveness of stage-gate procedure, a number of refinements can be used that emphasis on efficiency, speed and flexible allocation of resources needed in product development. For instance, a study by Beuren et al. (2013) highlights the significance of dealing with continuous connections between the multidisciplinary team and processing role during product development. Nevertheless, this procedure is overlapping, such that decisions are continuously formulated by teams. However, strategic decisions of the product take long due to market conditions.

 Market Research Various empirical studies indicate the significance of determining and evaluating external patters with the view to updating and reviewing current project objects along the development process. Hojung et al. (2015), for instance, indicates that acquirement of market data with respect to current and future client needs, competition, and technology variations along the development cycle has enormous effect on the success of futuristic products. These perceptions are underpinned by source whose study evaluated the success of new products among US and UK start-ups.

Bibliography

De Medeiros, J, Ribeiro, J, & Cortimiglia, M 2014. ‘Success factors for environmentally sustainable product innovation: a systematic literature review’, Journal of Cleaner Production, 65, pp. 76-86, ScienceDirect, EBSCOhost, viewed 17 February 2016.

Lauren, F, Gomes Ferreira, M, & Cauchick Miguel, P 2013. ‘Product-service systems: a literature review of integrated products and services’, Journal Of Cleaner Production, 47, Cleaner Production: initiatives and challenges for a sustainable world, pp. 222-231, Science Direct, EBSCOhost, viewed 17 February 2016.

Kimmel, A.J. 2015. People and Products: Consumer Behavior And Product Design / Allan J. Kimmel, n.p.: London: Routledge, 2015, Library Catalogue, EBSCOhost, viewed 17 February 2016.

Kushwaha, S 2015. ‘Consumers and Product Returns in Reverse Supply Chain: A Literature Review’, IUP Journal Of Supply Chain Management, 12, 4, pp. 36-45, Business Source Elite, EBSCOhost, viewed 17 February 2016.

Shin, H, Park, S, Lee, E, & Benton, W 2015. ‘A classification of the literature on the planning of substitutable products’, European Journal Of Operational Research, 246, 3, pp. 686-699, Business Source Elite, EBSCOhost, viewed 17 February 2016.

By admin in Essays on March 25, 2016