Monday, 3 October 2016

Business Lecture 2

Business lecture 2 

We started the lecture by recapping over the design process and how thoughts should be carried out . we added a sub timeline to the process that showed how different elements of industry had to be added to the chain of thought , such as financial situations and how production. 
One of the things we need to watch out for is the current world occurrences as they effect work in positive and negative ways.The News is very important.Pest analysis should be carried out when generating ideas looking out for Political , Economical , Social and Technological capabilities within the next 5/10 years and how these might effect your idea.another technique of a SWOT analysis is used to discover Strengths and weaknesses and also opportunities and threats to your design.

Finally we looked at the life cycle of the product. How it would firstly get off to a slow start selling , as people recommend the product and the popularity grows sales will increase. Advertisements will build hype and the product will retain a strong sales pattern for a certain amount of time and finally the product will decline. However the product could receive various spikes in sales if every day events occur , the sales chart works just like the stock market will how life events can make dramatic changes.