OM - MIDTERM

• Product


  It is the item offered for sale and can be a service or an item. It can be physical or in virtual or cyber form.
• Products are tangible goods purchased and owned
• services are intangible experiences consumed simultaneously with production
• Product design typically involves designing tangible goods
• product design takes into consideration factors like usability, materials, and ergonomics
• Service design focuses on improving the quality and the interaction between service providers and customers. It can be seen as the behind-the-scenes work that shapes the customer experience
• Tips for making the most out of the process

  understand your customer

  prototype and test

  consider manufacturing or delivery process
• benefits of product and service design

  improved customer satisfaction

  differentiation

  reduced cost

  innovation

  enhanced brand image
• Improved Customer Satisfaction


  A well-designed product or service that meets customer needs leads to higher customer satisfaction. This can result in increased customer loyalty and repeat business, positively impacting a company’s bottom line.
• Differentiation


  design can set a business apart from its competitors. Unique design elements or exceptional service processes serve as a strong differentiation point in a crowded market
• Reduced Costs


  thoughtful design can lead to savings in production, service delivery, and after-sales support.
• Innovation


  Product and service design often involve innovative thinking, which can result in groundbreaking products or services. Continual innovation can help a business capture new markets and opportunities.
• Enhanced Brand Image


  High-quality product and service design goes a long way in improving a company’s brand image
• reasons for design or redesign

  customer needs

  technological advancement

  competition

  efficiency and cost
• Designers bring creativity, technical skills, and a user centric perspective to the process
• Engineers are professionals who are tasked with ensuring that the product can be manufactured feasibly and reliably.
• Marketing Professionals provide insights into market trends, customer needs, and competitive landscape
• Senior management personnel make strategic decisions about the direction of the design and the resources allocated to it.
• Incorporating customer feedback into the design process can help create a final product or service that meets customer needs and expectations
• Product design


  process of identifying a market opportunity, clearly defining the problem, developing a proper solution for that problem and validating the solution with real users
• Design thinking


  it is a method for the practical resolution of problems. Originally coined by David Kelley and Tim Brown of IDEO, it has become a popular approach to creating products. This approach encapsulates methods and ideas of human-centered design into a single unified concept.
• Design thinking is a human-centered approach to innovation that draws from the designer’s toolkit to integrate the needs of people, the possibilities of technology and the requirements for business success
• 5 phases of finding a solution to a problem

  emphatize

  define

  ideate

  prototype

  test
• Empathize


  Learn about the people for whom you are designing.
• Define


  Create a point of view that is based on user needs and insights
• Ideate


  Brainstorm and come up with as many creative solutions as possible. Generate a range of potential solutions by giving yourself and your team total freedom
• Build a prototype to test your hypothesis. Creating this lets designer see if they’re on the right track, and it often sparks different ideas that you wouldn’t have come up with otherwise
• design process is a series of steps that product teams follow during the formulation of a product from start to finish
• steps in design process

  define product vision

  product research

  user analysis

  ideation

  design

  testing and validation

  post launch activities
• Value proposition maps out the key aspects of the product: what it is, who it’s for, and when and where it will be used. it helps the team and stakeholders build consensus around what the product will be
• Facility Planning determines how an activity’s tangible fixed assets best support achieving the activity’s objectives.
• Location 


  is the placement of a facility with respect to customers, suppliers and other facilities with which it interfaces
• Structure 


  consists of the building and services
• Layout 


  consists of all equipment, machinery, and furnishings within the structure
• Facility Layout 


  planning for the location, for the flow patterns of material and people around, into and within
• Raymond Vernon, a Harvard Business School professor, developed the product life cycle theory in the 1960s. The theory, originating in the field of marketing, stated that a product life cycle has 3 distinct stages:

  New Product

  Maturing Product

  Standardized Product
• Product Life Cycle Theory is an economic theory that was developed by Raymond Vernon in response to the failure of the Heckscher–Ohlin model to explain the observed pattern of international trade.
• Introduction


  The product is new to the market
• Growth


  The product gains traction and grows in popularity
• Maturity


  The product reaches its peak market penetration