Product development is NOT
- brand management
- business strategy
Hyperstrategy can help you take a holistic view of integrated product and process development management. We consider the role of the product from concept to market to disposal. Product development is an inherently cross-functional activity, and to do it right you must address areas ranging from design to marketing, and from manufacturing to strategy.
Your scarcest resource is time. You must focus your effort on those products and customers that leverage the organization's time. All companies must continually ask themselves: what products and services do we sell and how do we develop them?
Product development includes conceiving, designing, and developing new products and services. At its best, it encompasses a deep understanding of customer needs with a knowledge of the limitations and possibilities of design, manufacturability, and the drivers of overall cost structure. Good product development reaches from product or service concept development through experimentation and prototyping to formulation of a market launch campaign strategy.
"The grandaddy of all mistakes is competing to be the best, going down the same path as everyone else and thinking that somehow you can achieve better results." - Michael Porter in the book Understanding Michael Porter by Joan Magretta.
The management of product development or any innovation requires the creative synthesis of multiple functional areas: strategy and policy, organization behavior, operations, marketing and R&D. Hyperstrategy helps you with business and technology strategy, structures, cultures, work processes, and human resource competencies. Functional areas may include:
- Development Processes and Organizations
- Product Planning
- Identifying Customer Needs
- Establishing Product Specifications
- Concept Generation
- Concept Selection
- Concept Testing
- Industrial Design
- Design for Manufacturing