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A Modular Product Architecture is a product design practice, using principles of modularity.In short, a Modular Product Architecture can be defined as a collection of modules with unique functions and strategies, protected by interfaces to deliver an evolving family of market-driven products.
A four-dimensional product (4D product) considers a physical product as a life-like entity capable of changing form and physical properties autonomously over time. It is an evolving field of product design practice and research linked to similar concepts at the material scale (programmable matter and four-dimensional printing), however, typically utilizes sensors and actuators in order to ...
Mass customization is a product design strategy and is currently used with both delayed differentiation and modular design to enhance the value delivered to customers. [2]Mass customization is the method of, "effectively postponing the task of differentiating a product for a specific customer until the latest possible point in the supply network".
Product Design Process: The product design process is a set of strategic and tactical activities, from idea generation to commercialization, used to create a product design. In a systematic approach, product designers conceptualize and evaluate ideas, turning them into tangible inventions and products. The product designer's role is to combine ...
Marketing research is the systematic gathering, recording, and analysis of qualitative and quantitative data about issues relating to marketing products and services. The goal is to identify and assess how changing elements of the marketing mix impacts customer behavior.
Product innovation is the creation and subsequent introduction of a good or service that is either new, or an improved version of previous goods or services. This is broader than the normally accepted definition of innovation that includes the invention of new products which, in this context, are still considered innovative.
Vertical product differentiation can be measured objectively by a consumer. For example, when comparing two similar products, the quality and price can clearly be identified and ranked by the customer. If both A and B products have the same price to the consumer, then the market share for each one will be positive, according to the Hotelling ...
Product strategy defines the high-level plan for developing and marketing a product, how the product supports the business strategy and goals, and is brought to life through product roadmaps. A product strategy describes a vision of the future with this product, the ideal customer profile and market to serve, go-to-market and positioning ...