Developing new products and services involves balancing product strategy formation, customer needs assessment, creative concept development, and marketplace execution. Product management is best accomplished using a disciplined strategic framework and other proven product development tools and techniques.
As a leading product development consulting firm, EquiBrand works closely with cross-functional client teams to establish product objectives, strategies, and plans. Using proprietary creative-analytic tools, our product development consultants help clients create innovative product portfolio concepts which are then optimized in “real-time” with target customers. Plans for commercialization and launch are then developed, guided by strategic, financial, and operational screening.
Product Development Issues
What is the full set alternative strategic growth opportunity areas to consider (drawing on strategic direction setting and focused ideation)?
What benefits (both internal and external) does each product development opportunity offer?
Which of these are judged to be most attractive? How do product opportunities pass various screens, across strategic, customer, and financial/operational screens?
Can an initial business case be made to demonstrate market success potential?
Product Development Consulting Approach
Product development and innovation consulting projects often begin with a diagnostic audit to identify the strengths and improvement opportunities of the current approach
Working with the development team, a growth strategy is then created which outlines the growth gap and expected roles of new products and services
A market needs assessment is performed, including an environmental scan, which helps identify potential product platform opportunities
Concept ideation and iterative optimization follows, leading to fully developed concepts and prototypes ready for commercialization and launch
Interested in learning more about our product development consulting services? Find out why EquiBrand is listed among the top product strategy consulting firms.