CIPM Final Exam Questions and Answers 2024/2025 | A+ GRADED 100% VERIFIED

CIPM Final Exam Questions and Answers 2024/2025 | A+ GRADED 100% VERIFIED Product innovation charter is a plan for the firm's initiatives in new product development. It provides the clarification of goals and a common language for all personnel involved in new products. Background key ideas from the situation analysis, special forces such as managerial dicta, reasons for preparing a new PIC. Focus at least one clear technology dimension and one clear market dimension. They match and have good potential. Goals-Objectives What the project will accomplish, either short term as objectives or longer term as goals. Evaluation measurements. Guidelines Any requirements imposed by the situation or by the upper management. Innovativeness, order of market entry, time/quality/cost, miscellaneous. Why is a PIC used? NPD is a cross-functional activity and the PIC helps teams to stay on the same page. PICs provide common language for members to follow. Reduces the chances of scope creep and unstable product specifications. Crawford and Di Benedetto 2008 86% of the best firms had a PIC as opposed to only 69% for the rest. Consumer involvement in the NPD Involving consumers as active participants in the NPD process proposed as a superior approach to arms length research. Consumers are more empowered so they are increasingly able to contribute to marketing activities It can be argued that ideas generated by consumers will more closely mirror consumer needs. How can consumers be involved in NPD Consumers can provide valuable input at almost any stage of the NPD process. There are a variety of approaches to consumer involvement e.g. crowdsourcing.