Description
Read and reflect on Chapter 15: Developing Products and Services. Product and service development is critical to the success of many firms and having a well-managed development process is critical to the success of the firm.In a two-page journal, address the following prompts:Define both product design and product development process. It is important to distinguish between product design and the product development process. How are they different?How does a new product or service provide a firm a competitive advantage?Please provide us with an example of a new product or service (one you were involved in or one you know of).How did it provide a competitive advantage to the firm that produced it?Briefly explain how the phases of product and service development apply to the product or service you mentioned above. Good product and service design does not happen by accident; rather, it requires a coordinated effort supported by many individuals, both within and outside of a firm. In Section 15.2, we reviewed the product development process, and Table 15.1 offers a view of the phases of product and service development.
