Product Development
Strategic Product Management Consulting Services
New Product Development Process (Tollgate/Milestone Process)
Are you looking to streamline your innovation process and bring new products to market faster? Our proven New Product Development Process with tollgate/milestone checkpoints is designed to help you achieve just that. By breaking down the development journey into key stages, we enable effective collaboration, reduce risks, and ensure timely decision-making. With our process, you can stay on track, meet deadlines, and bring innovative solutions to your customers with confidence.
Unlock Success by Aligning Your Product with Market Needs
Want to ensure that your product aligns perfectly with your target market? Product-Market Fit is the key to unlocking success. Our expert advisors help you identify and understand your customers' needs, refine your product strategy, and create offerings that resonate with your target audience. By achieving Product-Market Fit, you can maximize customer satisfaction, drive growth, and establish a strong market position.
Voice of the Customer
Want to understand your customers on a deeper level and develop products that truly meet their needs? Voice of the Customer projects are the answer. Our experienced team conducts in-depth research, gathers feedback, and analyzes customer insights to help you make informed decisions. By leveraging the power of the Voice of the Customer, you can enhance customer experience, develop products that exceed expectations, and build long-lasting customer relationships.
Stand Out from the Competition with Clear Vectors of Differentiation
Make Data-Driven Decisions with Powerful Conjoint Analysis
When it comes to understanding customer preferences and optimizing product features, Conjoint Analysis is a game-changer. Our team utilizes advanced statistical techniques to conduct Conjoint Analysis and uncover the factors that truly matter to your customers. By harnessing the power of this approach, you can make informed, data-driven decisions that align with your target market's preferences and stay ahead of the competition.
Optimize Your Products' Lifecycle for Sustained Success
Unveiling the Hidden Opportunities: How Qualitative VOC and Conjoint Analysis Led to Game-Changing Differentiation Strategies
Customer research revealed that a smaller size and 110v service had minimal impact on unit preference. Instead, higher capacity and touchscreen interface were preferred at a 25% higher price point. Engineering discovered that the cost of this new design was actually lower than the current offering, saving the company from a year-long development project with negligible results.
CHALLENGE
Manufacturer of capital equipment was under pricing pressure and losing share in the entry-level category of their business. Feedback from the sales team was that the company needed to design a smaller, 110-volt machine to compete in this segment.
ACTION
Conducted qualitative VOC across key personas in this customer segment to validate needs and pain points. Discovered other potential feature differentiation opportunities, and tested them along with size and voltage requirements using Conjoint Analysis.
RESULTS
While a smaller size and 110v service did enter the purchasing equation, the impact of these features on unit preference was actually quite small. We discovered that a large segment of these customers would readily trade smaller size and 110v service for higher capacity and a touchscreen user interface. These “vectors of differentiation” had a 20+ point impact on unit preference, at a nearly 25% higher price point! And once engineering dug into the spec, they discovered that the cost of this newly featured unit would be LOWER than that of their current offering. The company’s investment in a few weeks’ worth of research saved them from a year-long new product development project which would have had negligible results on share and revenue.