Make, Market & Fulfill
Product development refers to the creation of a new product which provides utility to the consumers or up-gradation of the existing product to attain performance perfection; or enhancement of the production process, techniques, method or formulation with end result in the betterment of customer experience
Need for Product Development
There is a need for product development when there is slow or static product growth, pressure to lower the product price, diminishing business from the most valuable customers, decrease in inquiries by prospective customers, rise in sales force turnover, entry of new competitor with innovative product, change in customer’s demand and also when competitors exit the market.
The first stage in any product development process is to identify and analyze the business opportunity. Before a concept moves to implementation, we determine if and how it will supports overall business objectives. We do the feasibility study, to help teams determine whether a concept has the potential to be successful before a full go-to-market investment is made.