All companies can analyse their business
by product even if they do not see themselves as a product based company.
The product could be many things such as goods, services or an experience.
Looking at your business
by product is what your customers do when they consider you as a supplier.
Looking at the profitability
of your products is what you or your investors do when they consider
investment.
This is Product Development
and Product Management.
Developing new products
can be costly and involves risk. Developing the right new products ensures
your company has a future.
When deciding upon new
products in your company it is helpful to adopt a consistent process
which challenges ideas and beliefs through the complete cycle of product
development.
A defined process will
allow you to consider all product development in terms of equal merit
and allow your time and money to be spent on the best new products.
Your product development should
fit with your business plan and needs to be managed as a business
activity in its own right.
Blue Moth can help you
with product development in the following ways:
Development of a specific
product
Defining a product development
process
Determining product profitability
Defining your product management
methods
