Apply Design-Thinking Principles to Launch Products & Services Successfully
How come that worldwide less than 20% of all product and service launches are successful?
Product Design & Launch Strategy
What We Do
We are substantially raising the chance of a successful product introduction by providing in-depth and hands-on support during the process of designing, testing, and successfully launching new products and services.
Creating a holistic view of the situation
Before starting the design process, we firstly review all available market information that is crucial for the potential success of the business case.
When needed, we help to collect additional data, provide support with data transformation, conduct market analysis, or develop quantitative models to obtain a better understanding of the chance of success when introducing the new product or service.
A holistic situational assessment includes:
Market definition, potential, and seasonality.
Segmentation criteria and seize of target segments.
Sought customer value added as part of the buying journey.
Competition intensity and benchmark.
Distribution segmentation and weighted distribution shares per channel.
Alternative technologies and substitutes.
PESTL.
S-7 Model.
Develop a Customer Value Proposition
When the business case is looking plausible, we continue with the first stage of the product development process, which is the articulation of the customer value proposition .
Obtain initial Customer Feedback by presenting the Concept Design
Once the customer value proposition (CVP) is sufficiently refined, we will provide assistance with development of the concept to obtain initial customer feedback which often provides useful additional insights. Face-to-face interviews and/or focus groups are very effective techniques due to the high level of intimacy between the interviewer and interviewee(s).
Understand initial uptake by presenting Detail Product Designs
As a next step, we create multiple concrete product designs and mockups for the purpose of obtaining representative customer feedback helping us to develop a better understanding of the product acceptance, the initial uptake, and mid-term sales potential.
Quantitative online surveys are very suitable to present one or more product designs and to obtain comparable quantitative customer feedback. On the basis of the outcomes we will develop financial projections providing a sound basis of a go/no go decision.
Conduct Prototype Test Markets
Provided that the detail design testing is giving a positive outcome, we proceed with the next stage which means that we run a prototype test market before going for a full market introduction.
A test market or an experiment environment allows us to simulate and evaluate a full blown market introduction in a relative short timeframe while limiting the high level of associated introduction cost. Nowadays, the digital world makes it possible to target efficiently a limited geographical region or area in an effective manner and to take the target audience through all stages of the buying decision journey.
Guide objective Evaluation and Decision-making
As a final step in the process, we help to evaluate all findings to arrive at a financially substantiated decision whether or not to go for a fully fledged market launch.
Although we realize that there is a pressure to launch new products and services driving revenue growth. when all outcomes indicate a low chance of success, a cold ROI calculation might be less exciting but financially better in the long run to arrive at a final decision whether or not to launch. After all, a good product launch is a very costly undertaking when done properly.