Please respond to the 2 separate discussion responses below with at least 150 – 250 words and APA citation
I have first posted the required reading material for this week as a reference.
- Chapter 5 in Operations Management: Sustainability and Supply Chain Management
- Cimatti, B., & Campana, G. (2016). Modern industrial product development and organizational impact. International Journal of Organizational Innovation, 8(3), 7-17.
- Franceschini, F., Galetto, M., Maisano, D., & Mastrogiacomo, L. (2015). Prioritisation of engineering characteristics in QFD in the case of customer requirements orderings. International Journal of Production Research, 53(13), 3975-3988. doi:10.1080/00207543.2014.980457
- Fortino, A. (2017, December 19). Next-gen product design and development demands digital thread. Industry Week.
- Cusumano, M. A. (2018). The sharing economy meets reality: Assessing the uncertainties of the business models driving the sharing economy. Communications of the ACM, 61(1), 26-28. doi:10.1145/3163905
- Basten, D., Stavrou, G., & Pankratz, O. (2016). Closing the stakeholder expectation gap: Managing customer expectations toward the process of developing information systems. Project Management Journal, 47(5), 70-88.
- Jiaqi, H., Yupeng, L., Xuening, C., & Dexin, C. (2015). An integrated top-down design process evaluation approach of complex products and systems based on hierarchical design structure matrix. International Journal of Computer Integrated Manufacturing, 28(10), 1015-1029. doi:10.1080/0951192X.2014.941939
- Gretz, R. T., & Basuroy, S. (2013). Why quality may not always win: The impact of product generation life cycles on quality and network effects in high-tech markets. Journal of Retailing, 89(3), 281-300. doi:10.1016/j.jretai.2013.05.002
Description: Behind every successful product there is a clear strategic vision that takes both market and customer needs into account. Essentially, strategy is the set of choices a company makes in order to achieve its objectives. These choices include which products to develop, which market segments to focus on, how to differentiate, how to price, how to position, and more.
Description: Design is full of unspoken rules and obscure theories that, when applied, can dramatically improve one’s own design. For the first time, we are documenting them all in one place. Universal Principles of Design, based on William Lidwell’s award-wining books, illustrates one design principle, ranging from the tried and true (the 80/20 rule) to concepts that you may not have ever heard in a design context (Ockham’s razor or crowd intelligence.) These principles are critical to successful designâ€”no matter what the discipline.
There are five key states of product life cycle. Pre-launch is the first stage, where no sales and profit are made because the product is still in development. The second state is introducing the product, where initial sales are made to innovators. The next stage is growth, where sales begin to increase as the product gains popularity. Maturity is the fourth and longest stage and generates the majority of sales and profits from the late majority. The final stage is decline, where the products stop selling until the product is no longer profitable (Blatchford, 2014).
Pepsi-Cola is an example of a product with a great product life cycle. Pepsiâ€™s pre-launch was in 1898, when a pharmacist developed a formula designed aid digestion. The soda was given the Pepsi trademark shortly after when strong interest from consumers sparked. For its introduction, only a basic product was launched and available only through soda fountains in Bradâ€˜s Pharmacies. For Pepsiâ€™s growth stage, it actually hit bankruptcy in the 1930s, becoming acquired by Loft Inc. With much advertising and sales/promotions, Pepsi-Cola became a household name among consumers. The maturity stage started in the 1980s and continues through today as the product is far from decline (Blatchford, 2014).
A Pepsi brand that did not share the same success was Slice. Introduced by PepsiCo in 1984, Slice was designed to compete against drinks like Sprite and Sunkist. It was actually a big success upon its release, however, sales started to decline by 1987 (Levin, 1988). By 1994, Slice tried to redesign its soda can to pick back up. After sales continued to decline, Slice changed its image again in 1997. The changes were not enough as Slice was out of the market and replaced by Sierra Mist by mid 2000 (Trotter, 2018).
According to CSU-Global (2014), â€œDesign does not occur only at the beginning of the product lifecycleâ€ (p. 1). For example, Sprite has redesigned its image over and over throughout the decades as a way to reintroduce the product to new generations and create more interest. Slice tried the same strategy, but failed where Sprite succeeded.
Blatchford, J. (2014, May 1). Product life cycle of Pepsi. Retrieved from https://jugookushal.wordpress.com/2014/09/15/product-life-cycle-of-pepsi/ (Links to an external site.)
CSU-Global. (2019). Module 4 â€“ Designs of goods and services [Instructure ecourse]. In OPS400-1 â€“ Operations management (p. 1). Greenwood Village, CO: Author.
Levin, D. P. (1988, July 15). Slice: Case study of a setback. The New York Times. Retrieved from https://www.nytimes.com/1988/07/15/business/slice-case-study-of-a-setback.html (Links to an external site.)
Trotter, G. (2018, February 12). Slice is back: once-popular soft drink will be rebooted as low-calorie drink sweetened with fruit juice. Chicago Tribune. Retrieved from http://www.chicagotribune.com/business/ct-biz-slice-relaunch-20180129-story.html (Links to an external site.)
The CEO of Facebook made the decision to expand the products offered by the company and began acquiring virtual reality (VR) companies.Not only did they decide to add this totally new product to their line of offerings, but they also made the decision to invest heavily into the research and development of cutting edge technology.This was because the current VR technology was not meeting customer demands or expectations, and they realized that in order to succeed in a highly volatile field, they would need to set their goals for the final product much higher than even their customers believed possible (Heaney, Hamilton, Feltham, and Kemp, 2019).
They had an end-goal product in mind, a stand-alone VR headset that could be played without any attached wires, no need for a PC, and no smartphone.Along the way, part of their product development included acquiring several additional VR and tech companies, as well as developing affiliations with multiple companies to work together to solve problems related to the development of the stand-alone headset (Lang, 2018).Even now that the Oculus Quest has been successfully released and is even more well-received than expected, Facebook is continuing to develop new games for the platform, as well as developing additional accessories for it.This includes sensory gloves, which will offer users sensory feedback for an even more realistic experience.Another way they are improving existing products is by encouraging outside companies to develop better equipment to complement the Oculus platform, such as higher quality 360 degree cameras to create more realistic and high resolution experiences for users (Lang, 2018).
Blackberry was once very successful but failed to adapt and to develop new products that met customer needs.They used to be an industry leader in the business world for smartphones.According to Luo (2018), Blackberry was slow to react to industry competition, chose to focus on the wrong end of the market when it came to product development choices, refused to form alliances with third parties unlike their competitors, and made a series of poor decisions that didnâ€™t meet the needs of their customers.
Heaney, D., Hamilton, I., Feltham, J., & Kemp, L. (2019, May 23). Facebook Initially Thought Oculus Quest Might Be “Impossible”. Retrieved from https://uploadvr.com/schrep-quest-tracking-impossible/.
Lang, B. (2018, April 23). What to Expect in AR and VR at Facebook’s F8 Developer Conference. Retrieved from https://www.roadtovr.com/facebook-f8-2018-ar-vr-oculus-what-to-expect/.
Luo, J. (2018, February 1). The Rise and Fall (and Rise Again?) of BlackBerry. Retrieved from https://digital.hbs.edu/platform-digit/submission/the-rise-and-fall-and-rise-again-of-blackberry/.