An application of a foresight-based new product planning model A case study of a large household appliance manufacturer in China

Abstract

Purpose - Under such circumstances, how to assign the highest priority for future products which will create the greatest value will be the key success factor for a product planning model. The purpose of this study is to construct an improved planning model for new products based on the theoretical structures of technology roadmaps and patent analysis. Design/methodology/approach - This study takes the perspective of a product planning strategy, using technology roadmap developed by Institute of Manufacturing Technology of the University of Cambridge, combining with scenario planning and patent analysis. The main body of the proposed model is the technology roadmap of the product. Through patent analysis, the technology roalmap was integrated into the hierarchical execution of product planning to improve the disadvantages of the original technology roadmap and thereby clarify the content of the implemented procedure. With the planning of digital home products in a large household appliance manufacturer in China as a case study, the feasibility of the proposed model was verified. Findings - The improved planning model for new products comprised five planning phases: market scenario planning, product feature analysis, technological development analysis, patent combination analysis, and resource allocation. A matrix corresponding to product planning was established. The case study is to find out the developing trends in next-generation product features in six different scenarios of digital home for M, a home appliance manufacturer. There are five steps of the product planning model. The product planning model provides enterprises with integrated information from market demand, technology as well as patents. At the same time, it is easy to maintain and reproduce. The authors expect the model to make a contribution to practical product planning. Originality/value - This model should become an essential prediction tool for enterprises developing new products and can assist in decision-making and strategic implementation.