Learning Objectives

Upon successful completion of this unit, you will be able to:

  • describe the steps in the product/service design process:
    • evaluate opportunities and select best idea,
    • get feedback and refine concept,
    • evaluate product/service performance and appeal to market
    • design with manufacturing/delivery in mind,
    • build and test prototypes/ service,
    • ramp up production or capability and run market tests, and
    • launch the product/service;
  • discuss how managers can use the cost-volume-profit model to estimate profit level by volume;
  • apply customer needs research methods as a way to improve design;
  • and evaluate the appropriateness of applying project, batch, mass, and continuous process types.