Nike utilizes the Product Development framework in several ways to outperform in the market. Firstly, they use the Stage-Gate Process, which allows them to systematically manage their new product development process from idea to launch, ensuring that only the best ideas make it to the market. Secondly, they use the Product Life Cycle tool to understand the stages their products go through from introduction to decline, which helps them in planning and managing their product portfolio effectively. Lastly, they use Scoring Models to prioritize their product development projects based on their potential return on investment. These tools, among others, enable Nike to continuously innovate and stay ahead in the competitive market.
How do you stay innovative and provide the right values for customers? Effective product development...
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