StrategyStreet / Board of Directors / SHOW ME PAGES / P&S Improve Ability

Improve Your Ability to Develop Successful Products and Services

PROBLEMS calling for better product innovation:
  • Poor results in bidding for new customer sales volume
  • Customer indifference to new products and services
  • Poor representation in new product price points
  • Customer defection to other suppliers for better products
  • Competitors offering better products
  • Low margins on some products
  • Late company introduction of innovations
  • Poor company reputation for product innovation
SOLUTION: New Products and Services
  • Identify cost system where product innovation helps
    • Type of customer: Will the product innovation help this customer?
    • Physical costs and savings: Does the product innovation save enough cost?
    • Price Points: Can you innovate by creating a new product price point?
    • Low-end competition: How does your product innovation counter low-end competition?
  • Innovate your products for customer cost reduction
    • Add knowledge: Can your innovation increase the speed of information transfer?
    • Reduce resources: Could the innovation reduce the money, time, effort or health resources the customer uses?
    • Improve experience: Could you innovate to improve the customer's experience with the product?
    • Avoid competitor duplication: Are your product innovations likely to make you unique?

<<Return to Develop New Products and Services to Gain More Market Share