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Product
Concept Discovery
Clients are assisted in identification of product development
opportunities to expand their business within its sector or to enable the
business to enter a new market. Alternatively, new products, extensions or
repositionings of existing products can help defend existing market positions.
Sometimes the objective is to find synergies, which allow a lower cost position
to be obtained. Generally, multiple opportunities are identified first, then
evaluated against selection criteria so that the best potential opportunities
may be revealed.
Creative techniques are employed in the product conception
stage. Among these are:
- Market pull factors - identification and evaluation,
- Technology push factors - identification and evaluation,
- Brainstorming sessions with employees, customers or industry experts,
- Feasibility analysis which considers market demographics, product
development, manufacturing and selling costs, competitive offerings and fit
with existing business.
Product Development
It is becoming increasingly important to shorten the product
development life-cycle in order to take maximum advantage of market
opportunities by being the first to market a new product. At the same time,
development opportunities and development costs are escalating to the point
where new product development has become a risky undertaking.
TIG helps clients streamline the product development process with Stage Gate
Project Management training. This is a structured technique for controlling
project risk while managing a multifunctional team.
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