Most companies know that long-term success does not hinge on any
single product but on a continuous stream of value-rich products
that target growth markets. Yet many firms inexplicably develop one
product at a time, and by doing so fail to embrace commonality,
compatibility, standardization, or modularization among different
products and product lines. At last, in this timely book, Marc H.
Meyer and Alvin P. Lehnerd provide a formula for turning products
into profits, enabling companies to design technologically superior
products more easily. Their solution is, in two words, PRODUCT
PLATFORMS. They argue that firms must focus their energies on
developing families of products simultaneously which share common
components and technology.
The authors describe how the champions of product development
separate themselves from less sophisticated companies by building
entire families of strong products from a single "platform" of
common product structures, technologies, and automated product
processes. These successful companies recognize and respond to new
market opportunities by integrating core skills and technology in
the form of new products. In this easy-to-read and practical book,
the authors masterfully elucidate this dynamic and forward-thinking
strategy which enables companies to develop innovative products
faster, more cheaply, and with less effort.
Drawing on in-depth case studies and personal experience with
successful companies such as Hewlett-Packard, EMC, Black &
Decker, and Boeing, Meyer and Lehnerd show managers how to create
extraordinary products and thereby set the standard for combined
value and cost leadership in their products. They argue that when a
company's products are robust--highly functional, elegant in their
design, reasonably priced, and a pleasure to use--the corporation
will be equally robust. More importantly, "The Power of Product
Platforms" reveals the methodology and organizational approach for
designing, developing, and revitalizing strong products that enable
the firm to make the transition from one generation of technology
to the next. The authors also explain how well-designed product
platforms can generate streams of derivative products through a
continuous systematic process of renewal.
Meyer and Lehnerd apply this methodology to a broad range of
industries; manufacturing in both consumer and industrial markets,
software firms, and Internet information services providers.
This clear prescription for transforming the bottom line by
aggressively managing product development and innovation will
become required reading for large and small corporations alike,
including entrepreneurs, all of whom depend on the excellence of
their new products for growth.
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