The development of a new product or service is exciting. The academic and theoretical analyses of technologies, supply chain efficiencies, distribution strategies, and the myriad of other disciplines and topics is both enlightening and fun. However, energy may be expended in futility if the blueprint of your product is not complete and based on true […]
3 Common Pitfalls in Product Development Projects
Things go awry during product development projects. While many pitfalls will undoubtedly be specific to an industry or a discipline, I’ve identified several that span both many industries and disciplines. These issues are common to many projects in many industries. The interesting part of these pitfalls is that they are behavioral and not technological. Therefore, […]
3 Reasons Why Product Quality is Irrelevant
The marketing of quality is a loser’s game. Product quality can no longer be used effectively as a marketing tool. The quality of the products your customers purchase today is higher than ever and most items work as advertised well past their expected life. The improvements in product quality over the past 25 years has […]
Do You Know What You Are Really Selling?
Many companies think they are selling a product (television, automobile, cellular phone, car parts, etc.). In most cases they are wrong, very wrong. More importantly, if a firm believes they are selling just a product, then the path to commodity status runs steeply downhill to oblivion. A shift in mindset is needed to provide the […]
3 Reasons Why Product Development Is Important
Product development is simple in concept. It is the: Conversion of market need to a reality-based solution Creating the tangible from the intangible Creation of new wealth The success of product development efforts typically require considerable resources and the opportunity for lackluster results or outright failure are far higher than anyone will admit. Because of […]