Developing the 'right' breakthrough product/service: an application of the umbrella methodology to electric vehicles

Article Abstract:

The market success of breakthrough products and services can be predicted with greater accuracy by adopting an umbrella approach which combines forecasts of quantifiable environmental factors with qualitative analysis of uncertainties through scenario creation and research. The effectiveness of this approach is demonstrated in the case of electric vehicles where product developers are given the opportunity to make better informed decisions as to which breakthrough product should be selected for introduction to the market. The umbrella approach also allows product developers to use only secondary information to generate market information.

Motor vehicles and car bodies, Automobile Manufacturing, Electric Autos & Vans, Electric vehicles

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Developing the 'right' breakthrough product/service: an umbrella methodology

Article Abstract:

The market success of breakthrough products and services can be predicted with greater accuracy by combining qualitative analysis of uncertainties through scenario creation and research with forecasts of quantifiable environmental factors. This umbrella approach evaluates future objectives, needs, desires and the direction of a firm's product development based on a realistic assessment of the present situation. Hence, continuous monitoring is an essential element of the umbrella approach, allowing firms to include current information in their product development strategies.

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Managing the P/SDI process: best-in-class principles and leading practices

Article Abstract:

The application of best-in-class principles, derived from leading practices of highly profiled companies, supports the formation of an effective Product/Service Development and Introduction process (P/SDI). Principles, such as strategic planning principle, that are apt to the needs of high technology firms are needed in order to formulate an efficient and effective P/SDI process, a key factor in improving the overall profitability of a firm.

Production Management, Research, High technology industry, Product management

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