New products can be classified into several categories:

I. New to the world products or breakthroughs: Innovations that create entirely new markets, such as the personal computer.

II. New category entries or platforms: Products that introduce a company into a new category or market segment, such as Intel ' s 386 processors.

III. Additions to product lines or enhancements: Incremental improvements or extensions of existing products, such as the Pentium 500MHz processor.

All three categories represent different types of new product development. References: Kotler, P., & Keller, K. L. (2016). Marketing Management. Pearson; Crawford, C. M., & Di Benedetto, C. A. (2011). New Products Management. McGraw-Hill Education.

Quality Function Deployment (QFD) is a method that ensures that customer needs are integrated into product design. It is designed to foster collaboration between different functional areas, particularly engineering and marketing, and to systematically translate customer requirements into product specifications. Here are the truths and the exception regarding QFD:

A. QFD is not designed to allow engineering and marketing departments to work independently. Instead, it aims to integrate their efforts to ensure the product meets customer needs.

B. QFD limits the chance of omitting important design characteristics or interactions across design characteristics by providing a structured approach to identifying and addressing all relevant aspects of product design.

C. QFD employs matrix analysis, typically in the form of the House of Quality, to link customer requirements (the " whats " ) to how these requirements will be addressed in the product design (the " hows " ).

D. QFD is most valuable during the development stage when a cross-functional team agrees on translating customer needs into product specifications and features.

Thus, the correct answer is A: A tool designed to allow engineering and marketing departments to work independently while accomplishing a common goal of discovering how customer needs translate into product specifications.

References:

Akao, Y. (1990). Quality Function Deployment: Integrating Customer Requirements into Product Design. Productivity Press.

Hauser, J. R., & Clausing, D. (1988). The House of Quality. Harvard Business Review.

In the classic waterfall process, the first step is requirements gathering, and the last step is known as " Maintenance " . The waterfall model is a sequential design process, often used in software development processes, in which progress is seen as flowing steadily downwards (like a waterfall) through several phases such as requirements, design, implementation, verification, and maintenance. Maintenance involves making necessary changes, corrections, and updates after the product has been deployed to ensure its continuous proper functioning.

Monitoring/Control reports and reviews in project management deal with several critical aspects to ensure the project remains on track:

I. Scope/Performance: Ensuring that the project meets its defined objectives and deliverables.

II. Business/Financial Impact: Assessing the financial viability and business impact of the project.

III. Schedule/Time: Tracking project timelines and milestones to ensure timely completion.

IV. Budget/Cost: Monitoring project costs to stay within the allocated budget.

These elements are essential for comprehensive project management and ensuring project success. References: Project Management Institute. (2017). A Guide to the Project Management Body of Knowledge (PMBOK Guide). Project Management Institute.

According to a study by Wheelwright & Clark, the optimal number of development projects for an engineer to handle simultaneously is typically found to be two. This allows engineers to remain focused and productive, balancing their workload effectively without becoming overburdened, which can lead to diminished quality and slower progress.

Thus, the correct answer is B: 2.

References:

Wheelwright, S. C., & Clark, K. B. (1992). Revolutionizing Product Development: Quantum Leaps in Speed, Efficiency, and Quality. Free Press.

" Cash cows " refer to products or business units with a high market share in a mature, slow-growing industry. These entities generate consistent cash flow and profit due to their dominant market position and established customer base. However, the market for cash cows is typically not still growing significantly; it ' s mature, which means limited growth opportunities. Thus, saying that the market is still growing contradicts the definition of a cash cow. References: Kotler, P., & Keller, K. L. (2016). Marketing Management. Pearson.

Top of Form

Bottom of Form

Given the scenario where the company has extensive experience with its target market and needs to quickly gauge customer reactions to the updated app features and functionality, the most suitable approach is in-house alpha testing followed by beta testing. This approach allows for:

Alpha testing : Internal testing to identify and fix major issues before exposing the product to real users.

Beta testing : Involves a select group of actual users who provide feedback on the new features and functionality in real-world conditions. Any minor faults identified can be quickly remedied, aligning with the company ' s capability to address issues rapidly post-launch.

This method balances the need for speed to market with obtaining valuable customer feedback. Reference: " The Art of Software Testing " by Glenford Myers explains the stages and benefits of alpha and beta testing.

When the challenge is to break entirely from the past, enter a new market, or do something radically different technically or commercially, the appropriate team structure should be one that provides autonomy, focus, and the ability to innovate freely. Here are the types of team structures:

A. Functional : Teams organized by functional specialties (e.g., marketing, engineering) which might not be suitable for radical innovation due to potential siloed communication.

B. Lightweight : Matrix structures with a project manager coordinating across different functions but with limited authority over the team members.

C. Tiger : A team structure where members are taken out of their functional roles and dedicated full-time to the project. This structure is ideal for radical innovation as it allows for a high degree of autonomy and focus.

D. Heavyweight : A stronger matrix where the project manager has significant authority and dedicated resources but the team members still report to their functional managers.

Thus, the correct answer is C: Tiger.

References:

Clark, K. B., & Wheelwright, S. C. (1992). Organizing and Leading “Heavyweight” Development Teams. California Management Review.

Wheelwright, S. C., & Clark, K. B. (1992). Revolutionizing Product Development: Quantum Leaps in Speed, Efficiency, and Quality. Free Press.

Mission statements help organizations to focus their people and resources by clearly defining the purpose and primary objectives of the organization. They provide direction and a sense of purpose, helping to align efforts across different departments and teams towards common goals. A well-crafted mission statement communicates the organization ' s core values and objectives, which guides decision-making and prioritizes resource allocation. This concept is widely accepted in management literature, where the mission statement is seen as a critical tool for strategic alignment and organizational coherence (Drucker, 1974; Campbell & Yeung, 1991).

Most product development activity is focused on derivatives and product improvement. This involves enhancing existing products, making incremental changes, or developing variations of current products to meet specific customer needs or to enter new market segments. These activities tend to have lower risk and can leverage existing brand equity and customer loyalty.

References:

Wheelwright, S. C., & Clark, K. B. (1992). Revolutionizing Product Development: Quantum Leaps in Speed, Efficiency, and Quality. Free Press.

Ulrich, K. T., & Eppinger, S. D. (2015). Product Design and Development. McGraw-Hill Education.