scholarly journals BARRIERS AND OPPORTUNITIES OF IMPLEMENTING DESIGN THINKING IN PRODUCT DEVELOPMENT PROCESS OF A BUSINESS TO BUSINESS COMPANY

2021 ◽  
Vol 1 ◽  
pp. 551-560
Author(s):  
Harshavardhan Ramanujam ◽  
Balachandar Ravichandran ◽  
Susanne Nilsson ◽  
Lars Ivansen
Keyword(s):  
Product Development ◽  
Design Thinking ◽  
Product Development Process ◽  
High Tech ◽  
Sustainable Competitive Advantage ◽  
Business Decisions ◽  
Success Stories ◽  
Barriers And Opportunities ◽  
Customer Centricity ◽  
Business To Business

AbstractCustomer centricity is described as placing value creation for customers at the core of business decisions and organizational practices and is progressively regarded as a foundation of sustainable competitive advantage by companies. Hence in recent years, there is a shift from companies being product-centric to them adapting customer-centric practices as a practice to create balanced and sustainable businesses. Although there are several methods and processes that can help companies become customer-centric; Design Thinking (DT) is championed by many practitioners and academics alike as being effective in introducing customer-centricity in organizations. Despite being a highly researched topic in the last decade, the bulk of the research is focused on success stories or one-off cases of using design thinking in Business to Customer (B2C) environments. This paper is based on a qualitative study performed at a high-tech Swedish electronics company and focuses on highlighting the barriers and opportunities of adapting DT in Business to Business (B2B) companies with established product development processes. The barriers we identified can help companies to address the impediments and will make the DT implementation easier for companies

Optimal Design Decisions in Product Portfolio Valuation

2002 ◽  
Author(s):  
Panayotis Georgiopoulos ◽  
Ryan Fellini ◽  
Michael Sasena ◽  
Panos Y. Papalambros
Keyword(s):  
Product Development ◽  
Optimal Designs ◽  
Product Development Process ◽  
Product Portfolio ◽  
Design Decisions ◽  
Business Decisions ◽  
Business Context ◽  
Valuation Process ◽  
Product Valuation ◽  
Portfolio Valuation

Product portfolio valuation is a core business milestone in a firm’s product development process: Determine what will be the final value to the firm derived from allocating assets into an appropriate product mix. Optimal engineering design typically deals with determining the best product based on technological (and, occasionally, cost) requirements. Linking technological with business decisions allows the firm to follow a product valuation process that directly considers not only what assets to invest but also what are the appropriate physical properties of these assets. Thus, optimal designs are determined within a business context that maximizes the firm’s value. The article demonstrates how this integration can be accomplished analytically using a simple example in automotive product development.

Control and Optimization of Development Risk of the High-Tech Manufacturing and Measuring Product

2014 ◽  
Vol 709 ◽  
pp. 503-508
Author(s):  
Yang Peng Liu ◽  
Jian Jun Ding ◽  
Xing Yuan Long ◽  
Zhuang De Jiang ◽  
Yue Rong Jiang
Keyword(s):  
Risk Management ◽  
Product Development ◽  
Development Process ◽  
Risk Identification ◽  
Product Development Process ◽  
High Tech ◽  
Control Mechanisms ◽  
Development Costs ◽  
Development Cycle ◽  
The Competitiveness Of Enterprises

This paper proposes the risk management strategy of the product design and development process. The process control mechanisms based on the risk management. Risk identification, assessment, migration, monitoring and reporting are applied in the product development process. Under the supervision and guidance of risk management, the risk point of product development cycle of measuring instrument is shortened about 30%, and the development costs are reduced too. The risk management improves the economic efficiency of enterprises and enhances the competitiveness of enterprises.

scholarly journals RELATIONSHIP MARKETING IN THE INNOVATION PROCESSES

2013 ◽  
Author(s):  
Rodica Boier
Keyword(s):  
Product Development ◽  
Relationship Marketing ◽  
New Product Development ◽  
Customer Orientation ◽  
Stakeholder Involvement ◽  
New Product ◽  
Product Development Process ◽  
Marketing Innovation ◽  
For Profit ◽  
Business To Business

Inspired from the context of business-to-business markets, relationship marketing in the context of innovation have been expanded more and more to the consumer markets as well. The paper starts with a review of several most relevant studies on relationship marketing-innovation topic, from the first references to the current complex approaches. The effective stakeholder involvement in the value creation provides a more fertile ground for further successful innovations. All of the variables generating the success of a relationship marketing approach – trust, commitment, communication, seller’s customer orientation and empathy, experience and satisfaction a.s.o. – are also involved, with specific particularities, in the management of the innovation and new product development processes. The paper also outline the different perspectives to understand the relationship marketing-innovation approaches, coming from the product type, its business-to-business or business-to-consumer settings, the specific industry, the actual stage of the market evolution – emerging or mature –, the level of technological novelty as dimension of technological uncertainty, the position/ status and role of stakeholders as part in the relationships, the state of the new product development process in which the interactions occurs or special issues like sustainable innovation, for profit and not-for-profit areas etc.

Marketing's Limited Role in New Product Development in One Computer Systems Firm

1993 ◽  
Vol 30 (4) ◽  
pp. 405-421 ◽  
Author(s):  
John P. Workman
Keyword(s):  
Product Development ◽  
New Product Development ◽  
Participant Observation ◽  
Computer Systems ◽  
Product Development Process ◽  
Coalition Building ◽  
High Tech ◽  
Informal Networks ◽  
Empirical Examination ◽  
Managerial Implications

The marketing literature has traditionally assumed that people in marketing and sales play a central role in product development activities. Though recent work has recognized that marketing may be less central in high-tech firms, there has been little empirical examination of the role marketing does play in these situations. This article, based on nine months of participant observation in a computer systems firm, first provides an overview of the product development process and then describes impediments that prevent marketing groups from exerting greater control over product development decisions. The author then turns to ways in which marketing groups work within these constraints, exerting their influence through informal networks, coalition building to champion specific projects in engineering, and going to the external market to “complete the product” for their respective market segments. He concludes by assessing the implications for research in high-tech firms and considering managerial implications.

scholarly journals Fan economy in the Chinese media and entertainment industry: How feedback from super fans can propel creative industries’ revenue

2016 ◽  
Vol 1 (4) ◽  
pp. 331-349 ◽  
Author(s):  
Yilu Liang ◽  
Wanqi Shen
Keyword(s):  
Product Development ◽  
Design Thinking ◽  
Innovation Process ◽  
Creative Industries ◽  
Product Development Process ◽  
Entertainment Industry ◽  
Chinese Media ◽  
The Gift ◽  
Collaboration Process ◽  
High Level

The media and entertainment industry in China is witnessing the changing nature of its relationships between fans and the artists/studios they follow. Fans, once merely passive recipients of marketing campaigns, are now shifting from sharing their original work (fan art, fan vids, fan fics) as active members of fan communities, and participants within the “gift economy”, to being content experts leveraged as co-creators by studios seeking to ensure the success of productions before they are released into the marketplace. China’s media and entertainment companies are beginning to embrace the creative powers of their fans, and are seeking new ways to develop, invest in, and nurture their fan community towards the co-creation of products, especially with high level “super fans”, surpassing the mere driving of purchases through lifestyle affinity. In this paper we define and discuss elements of Chinese “fans”, their evolving relationship with artists and studios, and their impact on the Chinese media and entertainment industry. This includes a description of fan “levels”, an adaptation of the ARPU (average revenue per unit) used to measure fan value, and a review of social media platforms that provide a technological base for company/fan interaction. We share examples from China’s music, film, and television industries based on interviews with industry practitioners, and offer some insights on how companies can benefit from this collaborative product development practice. In conclusion, we draw parallels between the direction of the fan-studio collaboration process with the rapidly expanding innovation process known as “design thinking”, where companies incorporate feedback from side-by-side collaboration with customers and expert users during the product development process.

A New Approach to Trust and Reputation Based Rights Management in Product Development Collaboration

2011 ◽  
Author(s):  
Diana Vo¨lz ◽  
Anselm Schu¨le
Keyword(s):  
Product Development ◽  
Data Exchange ◽  
Product Development Process ◽  
High Tech ◽  
New Approach ◽  
Trust And Reputation ◽  
Rights Management ◽  
User Groups ◽  
Original Equipment Manufacturers ◽  
Globally Distributed

In times of globalization the importance of cross-company collaboration has significantly increased. An appropriate example is the automotive industry where Original Equipment Manufacturers (OEM) need to collaborate with several globally distributed suppliers to develop innovative high-tech cars. In this case, sharing information with the collaboration partner is a complex and risky process for the company but nevertheless an essential factor for development projects to be successful. Knowledge is the most important resource in today’s economy, especially in specific branches [I]. However, the damage caused by industrial espionage and product piracy has continually increased [2]. Thus, the protection of IP (intellectual property) during data exchange within the product development process is challenging and highly depends on trust between the collaboration partners. Usually, rights management in data exchange is mainly based on user groups and roles as well as by objects and projects. This classification does not meet the requirements of rights management in this paper. A new approach is introduced to manage data exchange rights by trust and reputation in product development collaboration.

Social content marketing, social media and product development process effectiveness in high-tech companies

2019 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nader Seyyedamiri ◽  
Ladan Tajrobehkar
Keyword(s):  
Social Media ◽  
Product Development ◽  
Development Process ◽  
Product Development Process ◽  
High Tech ◽  
Mobile Media ◽  
Social Content ◽  
Content Type ◽  
The Impact ◽  
Content Marketing

Purpose The purpose of this paper is to investigate the impact of social content marketing in social media on the effectiveness of the new product development process of high-tech companies with regard to the e-trust as a mediator between content and effectiveness. Design/methodology/approach For this study, a descriptive research method has been adopted. Data were collected through a questionnaire. In total, 430 questionnaires were distributed among professionals and managers working in R&D, marketing, sales and strategic departments of firms affiliated with ICT Guild Organization in September 2017. Of this number, 384 complete questionnaires were included in the study. Data were analyzed using structural equation method by Smart PLS software. Findings Findings show that although social content marketing and e-trust influenced the effectiveness of the product development process, e-trust did not play a mediating role in the relationship between social content marketing and effectiveness of product development process in high-tech companies. Practical implications High-tech companies, drawing on the results of this research, can utilize the component of social content marketing in social and mobile media and content publication through e-commerce, social and mobile media and m-commerce while analyzing user-generated content to identify user demands and achieve the proper idea generation. At the time of commercializing, by educating and informing customers, they mitigate fears and risks. This will lead to increasing the effectiveness of the product development process, market share and achieving revenue goals. Originality/value This study investigates the social content marketing role in product development process in high-tech companies and tests the model in the context of the Tehran IT industries. The result of this study provides a reference for managers of high-tech companies and helps them lower the failure rate of product development.

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