Number of page: 47
Publisher: Pearson Education
Category: Technology & Engineering
This is the eBook version of the printed book. Successful development and commercialization of new products are critical to the long term viability of any business. The primary goal of product development is to enable a company to meet its goals for profitability and growth by introducing new, improved and innovative products to the market. The failure of a company to commercialize valuable new product ideas results in the commoditization of that company’s product portfolio and potential failure of the business itself.
In this short cut we examine the business reasons that lead a company to adopt and implement the Design for Six Sigma methodology. During our discussion we examine the product life cycle that all products undergo, beginning with product development and ending with product decline. The impact of new, disruptive technologies on current products is also examined and illustrated with a case study example involving the replacement of vacuum tube technology by the transistor.
In addition, an examination of the economics of new product introduction is presented, describing the impact of low priced substitute and