Development And Launch Of New Products

28/01/2010

By Andrew Lester, Managing Partner, Carr-Michael

A common response when asking if a company is making progress is to hear of the latest new products (or lack of) that are being launched. The development and launch of all new products, or upgrades to existing ones has become a major part of modern business almost irrespective of the market you work in.

Too often, however, the company tends to rely on a small cadre of individuals to come up with the new products. Businesses regularly focus on technology and attributes and fail to recognise the major opportunties available from the associated elements of...

...the product/service sale: administration, availability, back up support, technical advice etc.

In making progress and developing a winning team, companies need to take a wider look at the progress they are making, not just on the products, but on all elements of the proposition. This opens up greater opportunities for development and growth.

The recession has given us many opportunties to develop new products and services. Recessions are great for innovation: the drive for replacing lost revenues with new products and services reflects a core business need. Customers have demanded more for less and we have all had to look to ways to improve the value we offer whilst making money.

Additionally, companies that have succeeded in launching new/revised offers have benefited from a double effect: not only have they produced and sold better value products and services, they have learned how to do so in this current market giving them a significant competitive advantage.

Progress in products and services is not just about what you are offering. It is most definitely about who is buying. Recessions have been great for innovations and new products, but they have also been great... continued on page two >

 

 

Advertisement

Advertisement