Product innovation
Achieve unrealized growth through commercially aligned product innovation
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Product innovation cases
Problem
Success with First Product. Bringing a new technology to market and successfully executing the right opportunities that will provide further funding on which to commercially scale and grow your business.
Solution
Perform upfront strategic analysis to define target market segments, customer needs, and the value proposition for your technology. Defining a commercial engagement strategy that maps out key moves and market development milestones for the first 24 months.
Results
Our client realized (4) customer contracts and (6) product demonstrations trials in the first 12 months of active market engagement. Achieving their 24-month goal one year ahead of schedule.
Problem
Diversification. Developing a technology which extends beyond the core competencies, capabilities, resources, and market understanding of the organization.
Solution
Manage risk through a collaborative development approach by leveraging external experts and partners to overcome capability, knowledge, and resource gaps, and who provide the expertise and market knowledge required to ensure a product market fit for the technology
Results
Reduction of program risk. Our client was able to beat competitors to market with a “Gen 1” design, accelerating their market engagement and providing value feedback for the launch of “Gen 2” design.
Problem
Developing a Product for an Emerging Application. Bringing a product to market where the market needs, use cases, and requirements are still evolving, but must be thoroughly understood to ensure success.
Solution
Execute a holistic technical/commercial structured development process to closely tie engineering and design, with market analysis and testing to ensure the final product solution aligns with both current and future customer needs.
Results
Positioned for Success now, and in the future. The launch of their first product reached targeted sales 16 months sooner than expected and provided important market justification to fuel further development.
Problem
Innovating in a Mature Market. Developing an innovative technology which stretches beyond the core competencies, capabilities, and resources of the organization.
Solution
Leverage external experts and partners to overcome capability, knowledge, and resource gaps to manage risk and increase chances for success through a collaborative model that helps accelerate development, through invaluable market insights and technical expertise.
Results
Differentiated Product. The final product incorporated several unique features born from cross-industry collaboration that yielded differentiated produced and a leading position in the market.
Problem
Leverage an Existing Product to Grow into new industries. Finding additional market opportunities with similar needs which extended beyond the initially designed use of the product.
Solution
Perform a thorough upfront analysis and assessment of several markets to define the most attractive markets and applications for growth, compared against potential product modifications needed for success.
Results
Market Expansion with minimal Innovation Risk. Successful entry and into two adjacent markets where the product required only slight modifications and was able to successfully satisfy customer needs.
