product and service development strategy

This assignment is intended to improve your understanding of the concepts presented in Chapter 5 and to help you understand the application of these concepts to organizations.

Regal Marine must work continuously to differentiate itself from its competitors. Understanding product life cycles and the processes needed to develop and introduce new products and services is vital to successful operational management manage. These product designs require input from customer preferences, dealers and stakeholders.

  1. Review and read the introduction at the end of chapter 5 Product Design at Regal Marine. Watch the video. Answer the discussion questions below:

1. How does the concept of product life cycle apply to Regal Marine products?

2. What strategy does Regal use to stay competitive?

3. What kind of engineering savings is Regal achieving by using CAD technology rather than traditional drafting techniques?

4. What are the likely benefits of the CAD design technology?