MASS customization, SUSTAINABLE development, ECONOMIC competition, TECHNOLOGICAL innovations, CONSUMERS, NEW product development, and VIRTUAL prototypes
The need for companies to improve their competitiveness may lead to innovation and the reconceptualization of traditional products and processes, with companies making an effort to enhance product elements related to functionality, attractiveness, technology and sustainability, and implementing mass-customisation concepts. Mass-customised products are developed to satisfy specific customer needs, in line with increasing demand for product variety and customisation. The analysis of what customers really want, capturing the Voice of the Customer (VOC), is one of the strategies used to establish effective product development processes. Using a VOC survey, it is possible to transform customer needs into the functional and psychological requirements of the product. This paper presents a methodology based on Virtual Reality (VR) technologies to support the capturing of the VOC in regard to the visual, haptic and auditory characteristics of products. This method can be applied to the beginning of the product development process, to allow companies to deduce from the data the requirements of new industrial customised products. A flexible and interactive Virtual Prototype (VP) of a product category is then developed as a product platform in a draft version by designers and configured according to customer needs, using an immersive VR environment. This method, based on the use of VP, reduces the number of physical prototypes that need to be manufactured during the product development process, thus reducing overall costs. In addition, the VP based method supports the mass-customisation process of products through the real-time integration and collection of data for product configuration preferences, involving as many users as possible representative of the target users of the new products. To demonstrate this process a case study concerning the development of the VP for a washing machine, a summary of test sessions with users and results are presented. Specifically, the results presented in this paper are related to improvements in capturing the VOC and reductions in Virtual Prototyping cost and time. [ABSTRACT FROM AUTHOR]
Journal of Economics. 1996, Vol. 63 Issue 1, p41-56. 16p.
PERFECT competition, RAPID prototyping, NEW product development, PRODUCT management, INDUSTRIAL research, MARKET equilibrium, and COMPETITION
We analyze endogenous timing in the switching of technology. Each user chooses when to purchase a new product which embodies new technologies characterized by Marshallian externalities. The technological switch occurs when a large number of users purchase new products. Under complete information, multiple market equilibria exist, and one of the equilibria in which technological switching occurs is efficient. However, if we introduce even a small amount of uncertainty, the switch is delayed in the unique equilibrium under perfect competition, resulting in a loss of social welfare. The market power of a monopolistic supplier of new products alleviates this inefficiency. [ABSTRACT FROM AUTHOR]
Journal of the Academy of Marketing Science. Winter2006, Vol. 34 Issue 1, p27-39. 13p.
NEW product development, COMMERCIAL products, COMMERCIAL markets, RAPID prototyping, ORGANIZATION, and PRODUCT management
This article attempts to understand the idea fruition process or the fuzzy front-end set of activities that an organization may informally engage in before it adopts a formal process for developing a new product The authors propose that the idea fruition process consists of three sub-processes: idea creation, idea concretization, and idea commitment. They also propose and test the individual and organizational factors that influence the idea`s degrees of creativity, concretization, and commitment to further the understanding of the phenomenon and, thus, boost the creation and harnessing of worthwhile ideas in organizations. [ABSTRACT FROM AUTHOR]
BAYESIAN analysis, MARKETS, NEW product development, COMMERCIAL products, PRODUCT lines, RAPID prototyping, INDUSTRIAL research, SUPPLY & demand, and CHOICE (Psychology)
The emergence of Bayesian methodology has facilitated respondent-level conjoint models, and deriving utilities from choice experiments has become very popular among those modeling product line decisions or new product introductions. This review begins with a paradox of why experimental choices should mirror market behavior despite clear differences in content, structure and motivation. It then addresses ways to design the choice tasks so that they are more likely to reflect market choices. Finally, it examines ways to model the results of the choice experiments to better mirror both underlying decision processes and potential market choices. [ABSTRACT FROM AUTHOR]
Wagner, Joachim and von der Schulenburg, J.-Matthias Graf
Small Business Economics. Dec1992, Vol. 4 Issue 4, p315-326. 12p.
TECHNOLOGICAL innovations, NEW product development, INDUSTRIAL research, PRODUCT management, INDUSTRIAL organization (Economic theory), and RAPID prototyping
In discussing the nexus between innovations and market structure it is often argued that industry characteristics (called `opportunities') might play an important role as determinants of innovation, and that simultaneity rather than one-way causality prevails. We consider a three-equation model for innovation, advertising, and concentration. Based on pooled cross-section time-series data for 26 German manufacturing industries we estimate single equation models with and without fixed industry and/or time effects (to control for unobservable industry or time effects, respectively) and simultaneous equation systems including fixed effects, and controlling for extreme cases (`outliers') or not. Furthermore, we use two different measures for innovations, i.e., the percentage of shipments due to new products, and the percentage of firms which classified themselves as innovators. Our results can be summarized as follows: (1) The firm size has no significant effect on innovation. One can, therefore, not conclude from this data set that large firms are more innovative than small ones; (2) unobservable industry effects do matter; (3) the treatment of outliers does matter; (4) simultaneity does matter; (5) the way innovations are measured does matter; (6) different stories could be told based on the results of the systems of interdependent equations estimated. [ABSTRACT FROM AUTHOR]