Product Platform and Product Family Design
5 important questions on Product Platform and Product Family Design
What is a product platform?
The goal is to provide as much variance for the market, with as little variance between products as possible.
What are the benefits and drawbacks of product platforms?
- Increased responsiveness & flexibility
- Take market share
- Improved ability to upgrade products
Drawbacks:
- Cannabalization of sales
- Too much commonality
- Additional costs on product development
- While designing, an incorrect forecast of future user needs is a big risk
Name some of the front-end issues of product platforms.
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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Students that study with Study Smart get better grades. The system applies all the learning methods in such a way that both well-performing students and students who struggle perform much better.
Hi Chris, I would like to thank you very much. Last year I scored C on a course, and this year I got an A+ thanks to your method! Thank you very much!
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Explain the Voice of the Market and the Vector of Differentiation regarding platform planning.
The Voice of the Market is a customer-grounded ideation process to identify customer requirements and concepts.
The Vector of Differentiation is the characteristic that the platform will deliver to meet the target segment's needs to gain competitive advantage.
Examples are: Innovation, higher performance, breadth and coverage, etc.
What is platform leveraging?
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
