Lesson 07 - Product Development
New products are the lifeblood of manufacturing organizations. But did you know that it takes more than 50 new product ideas to generate a single successful one? Unfortunately, most new products don't satisfy customer or company objectives. A major reason new products don't succeed is because they aren't marketed well. Today, we'll make sure this doesn't happen to you. We'll delve into the concept of customer orientation, starting with a brief overview of marketing. Then, we'll explore the voice of the customer (VOC). And finally, you'll see how failure mode, effects analysis (FMEA), and project management can lead to success.