Improve Your Ability to Develop Successful Products and Services

PROBLEMS calling for better product innovation:

  • Poor results in bidding for new customer sales volume

  • Customer indifference to new products and services

  • Poor representation in new product price points

  • Customer defection to other suppliers for better products

  • Competitors offering better products

  • Low margins on some products

  • Late company introduction of innovations

  • Poor company reputation for product innovation

SOLUTION: New Products and Services
  • Identify
    system where product innovation helps

    • Type of customer: Will the product innovation help this customer?

    • Physical costs and savings: Does the product innovation save enough cost?

    • Price Points: Can you innovate by creating a new product price point?

    • Low-end competition: How does your product innovation counter low-end competition?

  • Innovate your products for
    customer cost reduction

    • Add knowledge: Can your innovation increase the speed of information transfer?

    • Reduce resources: Could the innovation reduce the money, time, effort or health resources the customer uses?

    • Improve experience: Could you innovate to improve the customer's experience with the product?

    • Avoid competitor duplication: Are your product innovations likely to make you unique?

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