1. Chapter10: Product Design and Development 1.What is a Product? 2.Where Do Product ideas Come From? 3.Identifying Business Opportunities 4.Understanding Your Industry 5.Forecasting Demand 6.Breakeven Analysis 7.Product Development 8.Protecting Your Idea (cases and problems)

2. 1. What is a Product? Define product Discuss and describe the four major categories of product developments Explain the four characterisitics of entrepreneurial start-ups Explain the process of entrepreneurial calculated risk taking

3. 2. Where Do Product ideas Come From? What are purple cows? And who is responsible for creating these business ideas? Discuss internal and external sources for product ideas. What are creative consultants? Why do businesses promote and seek out new product innovations?

4. 3. Identifying Business Opportunities When does an idea turn into a business opportunity? Talk about some of the “flops” Discuss the four types of utility or benefit products provide customers

5. 4. Understanding Your Industry Discuss how to research an industry include market, market segment and niche fundamentals What questions should you ask in assessing your competition?

6. 5. Forecasting Demand Explain the processes and resources used in forecasting demand for a product What is an effective way to measure market share for a product?

7. 6. Breakeven Analysis What is breakeven analysis and how is it determined? What components do you need to measure?

8. 7. Product Development What is product development and how do companies use project teams in the process? Discuss the risks of taking on a product development process Define the seven steps fundamental to product development

9. 8. Protecting Your Idea Describe the safeguards in place to protect the rights to a business’ idea What is the criteria for establishing a patent application?

10. Cases and Problems The class will divide into five groups: Group 1 will address the Learning on the Web section of chapter 10 Group 2 will address the Career Opportunities section of chapter 10 Group 3 will address the Ethics Angle section of chapter 10 Group 4 will address the Team-Building Skills section of chapter 10 Group 5 will address the Global View section of chapter 10 Be prepared to discuss your answers in your group in the next class session