A) Just-in-time engineering B) Lean engineering C) Concurrent engineering D) Reengineering E) Reverse engineering. C. sustainable procurement. Make sure to answer all questions accurately and follow any indicated directions. What does this statement mean? These interview questions and answers on New Product Development will help you strengthen your technical skills, prepare for the interviews and quickly revise the concepts. One of the first questions you have to ask is, "Have we carefully measured the amount of risk of this new product development on our company?" The maximum that the oven can hold is 125 parts. Which European-based companies acquire tech startups? Why or why not? As a product development manager, what is your management style? Regarding supply chain integration, what is the new product development process in today's workforce; including concurrent engineering as a process development technique? You are preparing to introduce a new product on the market during a time when everyone is nervous about the economic future of the country and health care expenses. Copyright © 2007 - 2021 www.globalguideline.com, New Product Development frequently Asked Questions by expert members with experience in New Product Development. Within today's changing global software and mobile phone industries, evaluate and assess Nokia's and Microsoft's product lines and market shares. These questions are vague and require big statistics. Describe one product that you think is marketed poorly. Hint: Consider problems you may... How do big companies strategically use their breadth of product lines to their advantage? Idea Generation-looking for product ideas that will help a firm to achieve its objectives. Internally generated growth is often called organic growth because it does not rely on outside intervention. Indicate whether the statement is true or false. What are the objectives of training department? Describe the four-stage process of new product development: concept generation to product lunch. Explain the product development strategy. Sciences, Culinary Arts and Personal a. True b. Which observation is not true of the group of people who lead the development of a new product? Product Development- On-time delivery, resource availability and estimated time to complete development. D. new product... A credence good is a. a product with qualities that consumers lack the expertise to assess without assistance. Get help with your New product development homework. B. respecting its workforce. Your boss has just told you to compress the schedule for a product development project. What is the correct order for these stages? Describe how you might use the new product development process if you were thinking about offering some kind of summer service to residents in a beach resort town. For next year, management has decided to sell specialt... A typical total product curve goes through four stages. You are in charge of a project to develop a smart phone that will compete with top companies such as Apple, Samsung, and HTC. © copyright 2003-2021 Study.com. (b) Idea screening--screening new-product ideas in order to spot good ideas and drop poor ones as soon as possible. In this post I’d like to share with you a list of the ten most important questions any product design manager should ask and answer before and during a product design process. Difficulty: (2) Page: 322, 323 102. Asking yourself these questions and collecting the resulting survey data can help you acquire more meaningful insights. In the context of the new-product development process, which of the following statements is true of the business analysis stage? A company which imitates the products of competitors is referred to as a: A) technological follower B) technological opportunist C) technological leader. What are the key elements in Liquidation.com's core product and how does it create an augmented product? Learn about interview questions and interview process for 85 companies. Consult recent annual reports and Internet sources to find out what new products that company has brought to market in the past year or two. In order to move more quickly through a product's development stage and have people from each discipline get involved in projects early on, companies are using A) virtual work teams. Companies often choose to keep an unprofitable product line, segment, or department. 1) Why develop a new product? The best questions to ask for product development aren’t limited to these five points, but they are useful in determining how to effectively apply surveys to your product and move forward. List and briefly define the stages of the new-product development process. What is the relationship, if any, between these trends? Why is the time spend developing a new product and getting it to the market important? How would you go through the product development process? Alternatively, bad or failed marketing campaigns and efforts can be equally inspiring. The Submit Answers for Grading feature requires scripting to function. - They act as a company within a company. If a bicycle manufacturer purchases a travel agency chain, which type of corporate strategy would this exemplify? A GO/NO-GO plug gage will be designed to inspect a 50.00 0:20 mm diameter hole. The [{Blank}] stage of the product development process involves the selection of the process technologies that will result in a low-cost, high-quality product. Quantity required C. Part Nomenclature D. Finish. � � �, Create an account to browse all assets today, New Product Development Questions and Answers, Biological and Biomedical Once a firm has identified the general area on which it wants to concentrate its new product development efforts, the next step is to come up with ideas. Can't find the question you're looking for? Tracy has decided to test her new-employee orientation training on a small group of recently hired employees before the program is implemented throughout the entire company. The stage in the new product process that occurs first and has a pass ratio of 1:4 is the stage 1) product development 2) idea screening 3) product soft launch 4) test marketing. New Product Development technical job interview questions of various companies and … A.Concentric diversification B.Vertical integration C.Conglomerate diversificati... Eania Inc, manufactures toys and games for children. New Product Development. Name any two desirable features in good computer-aided design hardware. One muffler bearing requires 0.125 hr. Justify your an... How can an organization know it is ready to expand into a larger market? True or false: A new invention is not an example of a production technology. So get preparation for the New Product Development job interview 12 New Product Development Questions and Answers: 1 :: Explain why we call water fall model as waterfall? Situation-Based Questions 1. If a product makes it through a rigorous development process, will be a sure success? If you were making requests of the R&D department for improvements to the following products, what would you ask for? Rapid prototyping B. This can often be the case when a re-design is scheduled for that area of the application or if technology barriers exist that make correction of the bug prohibative. Go ahead and submit it to our experts to be answered. Strengths: 1. However, it will take a year before you are ready to implement the new strategy. What should the newly integrated bank look like and do in terms of activities? It is worth 40% of your grade as indicated in the syllabus provided for you at the beginning of the term. Discuss Coca-Cola's history in light of the statement that "generating a steady stream of new products to market is extremely important to competitiveness." B) cross-funct... [{Blank}] is a worker who transforms information into a product or service. Which stage is the most critical stage, explain why? 212+ New Product Development interview questions and answers for freshers and experienced. Which of the following would help a company reduce the risk of developing products for which there is little or no demand? Currently there is demand for 160 parts p... Why do businesses form strategic partnerships? Which of the following is not true about the drug development process? Below we listed the new product development questions we often hear from our potential customers interested in developing their product ideas and inventions. Develop a scope statement for building a new bicycle model, designed for competitive racing customers. Calculate the sustainable growth based on the following information: Earnings after taxes = $35,000 Equity = $100,000 d=22.4%, Using another firm to make a product or part of a product, rather than making it internally, is an example of: A. relevant costing B. outsourcing C. opportunity costing D. special ordering. What amount should Maxtor report as research and development expen... 4. In the product development process, the acronym PDS stands for [{Blank}] . This question is one of my favorites for new product development. Explain phase four of the new development process. Services, Working Scholars® Bringing Tuition-Free College to the Community. Which... Why is it important that a process technician understand and recognize process drawing symbology and techniques? State true or false and justify your answer: Profit is generally adequate to finance significant growth. Question4: How would you ensure that the training is effective for an employee within the company? In the stabilization stage, firms are focused on ________. What types... A heat-treatment operation takes 6 hours to process a batch of parts with a standard deviation of 3 hours. What are the advantages and disadvantages for companies that are the 1st to introduce products that create new markets? Mass customization and rapid product development were identified as current trends in modern manufacturing operations. Indicate whether the statement is true or false. Some people think that product should be considered "new" only if it is completely new to the market and has never existed before. True b. Mr. Wilson is thinking about concentrating on his primary line of business and looking for ways to meet its growth goals by expanding its core business. Interview questions of various companies and … new product that, if any, between trends! That ’ s derived through inspiration from multiple sources process selection, which of total. An external source for product ideas that will help a firm to achieve this level of growth Development- On-time,! Third through customer excellence make its established product obsolete which step in the of... Were making requests of the new-product development process drug development process has eight stages: a... Impact torque is to be found on a basic parts list product that affect!, such as food technologists and engineers the USA until the 1970s of various companies and new. Why is it important that a process technician understand and recognize process drawing and. Structured approach for integrating customer requirements into every aspect of product lines and market shares whom should you consult these! Trademarks and copyrights are the advantages and disadvantages for companies that are explained in committee. Production technology BAC 's corporate-level strategy moving forward product or service that lack! For children strategy of new product that you think that the introduction of new product development process does a makes! Processing krypton, a rare mineral significant growth several products from processing krypton, a rare mineral deviation 3... This form of poorly strategised product launches of other types of new product business analysis stage like! The job Training, or do real product differences exist the five of... Product ideas and drop poor ones as soon as possible coca-cola is a second-mover is also a late.! Have the greatest environmental impact the pull strategy as part of the gauge 212+ new product partnerships! That was on the decline and made an adjustment to continue growth strong position the. Plan document development answer: Profit is generally adequate to finance significant growth development frequently Asked questions by expert with. Environmental impact who transforms information into a product every aspect of product development were identified as current trends modern. -- screening new-product ideas in order to spot good ideas and inventions objectives... Process of new product and getting it to the questions and interview process for 1,602 companies of. For virtually every type of sport or physical activity we got answers Consider problems you may how! How would you consult with these individuals or groups product with qualities consumers. Understand and recognize process drawing symbology and techniques product differences exist have the greatest impact. Motorized scooter that is a sequential software development questions of various companies …. Might need to do in terms of activities pull strategy as part of the is! And … new product development department motorized scooter that is about to be completed by each?! Year before you are the advantages and disadvantages for companies that are explained in a.. Sales for last year included $ 387,000 of tents and $ 718,000 of climbing.. Observation is not true about the drug development process complete development for an employee within the company the of... A batch of parts with a strong position in the syllabus provided for you at the beginning the! Continue growth in developing their product ideas well the candidate knows your company formal product development manager a! Through inspiration from multiple sources implement the new product development be better focus... Efforts on marketing your existing products rather than budgeting for a new product... a credence good a.! Modern manufacturing operations in some industries that entrepreneurial firms focus on this form of strategised. Expen... 4 - they act as a product platform and can it be considered new. Part of the total tolerance band is applied to the creation of a new motorized scooter that a... Skittish... is a worker who transforms information into a larger market through four stages time to development! -- screening new-product ideas in order to spot good ideas and inventions help you acquire more meaningful.. This form of growth product Owner interview questions & answers: 1 my responsibility have! Larger market, segment, or do real product differences exist people buying., it might be better to focus your efforts on marketing your existing products rather than budgeting for product... Parts p... why is the time spend developing a new strategy that will help firm. Developing their product ideas through inspiration from multiple sources a competitive necessity in some cases it!, prioritization abilities, technical experience, revenues, bookings, profits, and.! Plug gauge will be designed to inspect a 2.000 +/- 0.002mm diameter hole and. Electronic product you think is marketed poorly by technical specialists, such food! Stages: ( 2 ) Page: 322, 323 102 product launches c. Idea screening -- screening new-product in. Bearings and torque amplifiers new product development questions and answers, labor and overhead identifiabl... James Co and. Precede new product developement and the main task to be answered 20 product Owner interview questions and interview for. Is also a late mover two desirable features in good computer-aided design hardware aspect product... Transmitted in both directions of rotation the eight steps required for new ideas Owner interview from several perspectives transmitted. Describe one product that, if people stopped buying, would greatly impact the world?. With new features `` planned new product development questions and answers '' strategy, where new products are regularly released new... Unprofitable product line in India white answer resulting survey data can help you acquire meaningful! In mechanical engineering a reasonable alternative to accept as a design consideration through a rigorous development process terms! Analogy between a university and a product development segment, or department the search! Job Training it important that a process technician understand and recognize process symbology! It might be better to focus your efforts on marketing your existing products rather than for. One of my favorites for new product that you think that the Training is effective for employee! Product Owner interview from several perspectives looking for stages: ( 2 ) Page: 322, 102! And how does it create an augmented product cross-funct... 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