As the markets change and technology reorients, product cycles have become shorter and the competition fiercer says karani nyamu on Product Development . No sooner has a product hit the market than a better more refined and revolutionary idea stepped in to replace it.
karani nyamu on Product Development
Most companies tend to pay lip service to product developments. Truth be told every year firms that are able to win the market tend to be those that are given over to providing the market with faster, safer, more efficient and energy saving products for their clients. “There are simple tests that can provide a guidelines for a firm seeking to build a culture of continuous product development says karani nyamu on Product Development .
Developing NPD strategy
Have a plan. It’s that simple. A good strategy should have a products’ planning, market views, cash flow projections, available resources, time frames and pricing plan. A new product development strategy will help you to test the prospects of the new product in line with market needs. It is also your best shot at ensuring every resources is put to good use says karani nyamu on Product Development
Not all firms can afford a fully-fledged research and development department but at the minimum every firm should a document that details the process of generating and evaluating product ideas. It takes a deliberate and well slept out plan to capture all the ideas that emanate from the employees or users of the product says karani nyamu on Product Development .
NPD Concept development
Ideas are free but what becomes of ideas is the difference. A product concept is a broader development of ideas that may incorporate several possible outcomes of a production process. At concept development stage you are able to generate more realistic and comprehensive perspectives around the generated ideas.Concepts developed around a set of ideas tend to provide a more cogent and a more realistic prospect of marketability.Having 3 to 5 concepts to works with is an ideal figure in a product development initiative. While most concepts ultimately fail the 2 or 3 that make it to development stage can revolutionize a company’s fortune and impressively boost its sale says karani nyamu on Product Development .
The most viable and promising concepts ought to be analysed for their market analysis. How strong is the product appeal? How soon can it break even? What is the size of the product market and where does it exist? What problem does it solve? How much would it require to produce and sell it? At the business analysis stage, the concept meets numbers and either floats or sinks on its ability to generate appealing numbers.
Creating and commercialising Prototypes.
With the market viability and production planned out, the business idea can then be released to the market in a test run to assess its functionality and for product reviews.‘At this development stage the use of opinion leaders and advertising is critical.’ says ays karani nyamu on Product Development