Ethnographic methods: Searching for user patterns and habits
Find the market before developing the product
Predictions and game changers
Everything was first an idea
Idea Evaluation / Screening
Develop an Investor Mindset
What is the product?
Design & Packaging
How much profit is obtained from each product?
How flexible are the buyers' purchasing habits with regard to this product?
How long will the product produce benefits for the user?
How frequently is the product repurchased?
How long will consumers shop for the product?
Leo Aspinwall, 1958
NAICS North American Industry Classification System largely replaced the older Standard Industrial Classification (SIC)
personal care product
Model Successful Concepts!
Business Model / Business Analysis
Customer Acquisition Cost
If nobody else is doing that there may be a reason for it!
SWOT / PESTEL Analysis
Self-funded and/or ‘Boot-Strapped’
Bank or Government Loans
Know where you want to go!
Six Sigma Analysis: DMAIC 1. D efine the problem and the project goals. 2. M easure key aspects of the current process and collect relevant data. 3. A nalyze the data to investigate and verify cause-and-effect relationships. 4. I mprove or optimize. 5. Set future c ontrols.
Six Sigma Analysis: DMADV
D efine goals consistent with customer demands.
M easure and identify product capabilities, production process capability, and risks.
A nalyze / Develop Alternatives.
D esign Details Optimization.
V erify the design (i.e. set up pilots).
Beta and Market Testing
LISTEN TO FEEDBACK!
Most flexible approach will win (Law of Requisite Variety)
Product Development Roadmap
*Neil Borden, 1953
Marketing Mix 2011
SEM : PPC + SEO
Mobile / in-app
*Neil Borden, 1953
Pre Launch Considerations
Segmentation and Options
BASE | PROFESSIONAL | SUPER!
MVP – Minimum Viable Product
Channels/Resellers and OEMs
Why New Products Fail
No clearly defined target market .
Insignificant point of difference.
Too little market attractiveness.
Poor product quality or sensitivity to customer needs on critical factors.
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