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. 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?
Every 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.
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.
| 
