The road to success
The success of a new product is determined by two things: the degree to which it meets a particular need in your target market, and how well it fits your current business strategy. Obtaining a maximum understanding of these two viewpoints is essential to create a good roadmap.
What needs to be analyzed?
For every market, an in-depth analysis must be made of:
- General Political, Economical, Societal, Technological, Ecological, Legal (PESTEL) trends
- Emerging technologies
- Needs of customers and key players throughout the value chain
- Market evolution (Expected growth, Market share, Margin evolution, etc.)
- Competitive strategy
Which features does my product need?
Identify the key product features to address business and market drivers. This is key to determining the way in which your product should evolve. We can help you gain a vision for your product in line with the desired evolution of its features, and set the stage for the technologies that you need to make it happen.
What’s the best technology for the job?
Determining these ‘enabling technologies’ — which can be anything from new materials to new production processes — can be done through initial technology mapping. For example, this may reveal patents of target partners that hold the key to developing your next-generation product.
The output has to be evaluated in terms of its potential impact on the key product features, in-house development, and acquisition or development with a partner.