The 4 Important factors to develop your Tech product(s) successfully
Technology has advanced at a rapid pace in the past 10
years. It was only logical for processes of tech product development to follow suit. There is
immense competition across the world for tech products such as IoT enabled
devices, mobile apps and other products that enable us to stay connected and
monitor our most precious belongings. They also enable us to work and play on
the go.
Coming up with a more responsive system for product development
It took us little time to realize that various supply chain
processes are deeply interdependent on each other. The need of the hour was to
develop a more responsive system to cater to these interconnected and
interdependent processes. Managers were prompted to come up with levels that
allow increased returns per dollar invested and more effective product
development. Here are the most important factors that affect the development of
your tech products.
1.
The Idea Itself
The source of the ideas for a tech product can come from market research data or
even outsourced from consultants. They can be from within the organization
(i.e. from researches done in the past) or from external sources (such as
consultants). When brainstorming for ideas, let them come and do not criticize
the one giving them. That part comes when potentially successful ideas are
screened out, based on competition and the costs involved.
1.
Testing ruthlessly
We all remember how miserably the Samsung Galaxy Note 7
failed, after incidents were reported of the smart phone catching on fire. The
company ended up recalling many of these smart phones from the market and kept
its “audience” glued to the internet in anticipation of the Galaxy S8 and S8+.
If Samsung had carried out more tests on the Note 7 based on anticipated tech product issues like
this, before the release of the phone, they would not have had to recall the
Note 7.
2.
The underlying marketing strategy
Without a strategy to get the proposed tech product to the
(intended) audience, there is no point in coming up with the product at all. There
needs to be a well-defined marketing strategy for the product that involves
focus groups, metrics and beta testing. Even if the product doesn’t end up
going out.
For instance, you come up with an idea for an app and test
it, only to find that it hasn’t been well received from the target audience.
The key insights you have from the focus groups and metrics are far more
valuable than the tech
product itself as it will help you avoid the mistakes that you made when
developing the current product.
4.
Better Concepts
Why do automotive companies always take out “concepts”
before they release new cars? This is because they are smoothing out the edges
on their final tech product so that is well accepted by their audience and that
the final product comes out better. Just imagine if innovative cars such as
Tesla Model S or the Porsche 918 Spyder didn’t have concepts!!! (One shudders
just thinking about it.)
If you would like to have a tech product developed, don’t hesitate to call XYZ Creative Group at 305.283.9735.
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