Developing New Products - empirical typology to assist decision making -

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Developing New Products - empirical typology to assist decision making - by Mind Map: Developing New Products - empirical typology to assist decision making -

1. Common Problems by Company Size

1.1. Corporate

1.1.1. Staying compliant

1.1.2. Speed of innovation and "come-to-market"

1.1.3. Aversion to risk

1.1.4. Manufacturing readiness

1.1.5. Regional/national considerations

1.2. Growing Businesses

1.2.1. Lack of flexibility, focus on growth

1.2.2. Long-term vs short-term perspective clash

1.3. Stagnated Businesses

1.3.1. Cashflow, illiquidity

1.3.2. Urgency mindset

1.4. Start Ups

1.4.1. Proper Budgeting

1.4.2. Funding, cash availability

1.4.3. Market readiness

1.4.4. Consumer education

1.4.5. Regulation and compliance

2. Product Development Drive

2.1. Product Oriented

2.1.1. When designing a new product is the objective.

2.2. Technology Oriented

2.2.1. When utilizing a new technology is the objective.

2.3. Market Oriented

2.3.1. When capitalizing on a trend is the objective.

2.4. Customer Oriented

2.4.1. When solving a problem for your customers or potential customers is the objective.

3. Holistic Design Process

3.1. Framing the right context

3.1.1. Social Media signals

3.1.1.1. What people are talking about

3.1.1.1.1. Identify sponsored trends

3.1.1.1.2. Identify organic topics

3.1.2. Market signals

3.1.2.1. Where the money is flowing

3.1.2.1.1. ads

3.1.2.1.2. finance

3.2. Map the pain- points

3.2.1. Qualitative Research - Needs and desires

3.2.2. Content Marketing Experiments - Test potential satisfiers

3.3. Competitive benchmark

3.3.1. What companies, products and services are addressing these needs.

3.3.1.1. Value promise benchmark

3.4. Design hypotheses

3.4.1. Concept/ value promise

3.4.2. Target

3.4.3. Sales channels

3.4.4. User experience

3.4.5. impact/sustainability evaluation

3.4.6. Price

3.5. Marketing the Project

3.5.1. Market Size

3.5.1.1. TAM

3.5.1.1.1. Total addressable market

3.5.1.2. SAM

3.5.1.2.1. Serviced addressable market

3.5.2. Funding

3.5.2.1. Internal

3.5.2.2. External