When was the last time your company launched an absolute killer product or service? Remember the enthusiasm for it? Remember
the cash flows, profits and new opportunities it created? Our approach to product development is grounded in the power of the collective
brilliance process. We apply a needs-based methodology by involving customers and/or prospects at all key stages of development to insure that
designs stay on target. It borrows “best practices” from world-renowned marketing masters, yielding a straightforward process that can
maximize the chances of success. |
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There are only 7 steps: 
Step 1: Idea generation & exploration
Step 2: Concept screening
Step 3: Competitive analysis
Step 4: Concept testing
Step 5: In-depth analysis
Step 6: Prototype development & testing
Step 7: Commercialization
Every step plays an important role. For example, step 2 is mostly about narrowing down a long list of ideas to a small manageable list
of those that offer the greatest potential. These more mature ideas must fare well against 4 key questions:
1. Is there a real, clearly defined customer need for this product/service?
2. Do we have the ability to fully develop this product? (Or, can we acquire & enhance this product from others?)
3. Is the potential for this product sufficiently large enough to offer some promise of making a profit?
4. Assuming we capture first-time buyers with this product, what will be their next purchase from our lines?
Each step attempts to screen out the “dogs” while flowing favorable concepts further along in the pipeline. Those that make it to commercialization
will have reduced the risk of (expensive) failures to a minimum. They will be the big ideas with the best chances of capturing valuable market share and
meaningful revenues with solid profits.
As just one example of this model in action, you might want to review our information on subscription models, financial
publishing, etc. Many New York clients tend to be information-oriented product & service providers. Often they seek help selling their
information online or off- usually via subscription. We use the new product development model and our Collective Brilliance approach
to clearly identify the wants & needs
of their target market and competitive landscape. Then, we help them build to those needs. The result is best-in-class deliverables that sell (as recently
quoted by one of our clients) "off
the charts".
This is THE new product development model that covers ALL of the bases. It aims for home-run successes while minimizing risk- a combination that should
be at the forefront of every company's approach. Invite
the Big Innovations team to show you how this process can help you grow your business. Just one great product or service launch can make all of the
difference. Together, we can help your company discover the next big thing.
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