Final answer:
Fantastic Flavors uses a team-based new-product development approach, balancing expertise from different departments for efficiency. A structured decision process is used for selecting design concepts, and artificial flavor development exemplifies the product development practice.
Step-by-step explanation:
At Fantastic Flavors, where employees from different departments like marketing, design, production, and finance collaborate in a cross-functional group, the approach used for new-product development is known as team-based new-product development. This method leverages the diverse expertise of various departments to improve efficiency and cost-effectiveness during the product development stage. Moreover, when choosing the final design concept for the product, a structured decision process is employed to ensure the selection is based on clear criteria and meets necessary constraints.
New Product Development requires these cross-functional teams to coordinate effectively, indicating an environment where cooperative work is crucial. The ability to integrate efforts across diverse segments of the organization, such as marketing, sales, and manufacturing, is key to success in this position.
The development of artificial flavors, as an example of how product development might occur in Fantastic Flavors, involves utilizing complex mixtures of flavor compounds created by flavorists. These experts combine thousands of molecular compounds to mimic or enhance natural flavors, ensuring product uniqueness and consistency over time.