In order for companies to survive in today’s increasingly competitive business world, implementing new products and concepts is crucial. Strategically developing and implementing an original brand or commodity can only work if you are attentive to every last detail, no matter how small.
In a marketplace full of new ideas, anything overlooked may not only delay your project and launch, but it can derail it completely. From generating ideas to detailing a launch plan, you can successfully develop a new product if you pay attention to every step of your journey.
Development and Testing
With new product development, you need to make sure you don’t skip any important details when it comes to getting the test results you want to make your product a success. If it tests properly, you will not only save time but also money, since incorrect analyses can be quite costly to diagnose and fix.
There are several details you should factor in to get to this point:
- Devising a concept: Your concept sets the basis and direction for the entire development process. You need to clarify the kind of project you want, know the problem you want to solve and carefully outline your technical and financial goals. Each of these details is key to help produce the end results you want.
- Brainstorming ideas: Your team should research and discover all the ways your product can solve the target consumer’s problem. Each idea needs to be evaluated and the most promising ones chosen to develop further.
- Executing your design: A prototype or test service is the best way to construct and create how a proposed new product works. At this point, you will work through all the engineering details and ideas you chose as a team.
- Testing and validating your product: The final step is actually testing if the product meets your original goals or if a few tweaks need to be made. Some key details to remember at this stage are:
- Making sure the consumer can understand the basic product benefits such as value, safety features, sensory qualities and physical characteristics like size, shape and color.
- Having packaging that clearly shows the benefits of the product such as value, and ease of use, storage and disposal.
- Showing the many benefits of the product including convenience, information on use and attractive presentation.
Launching your new product is an exciting time, so it’s best to make sure all your wrinkles are ironed out ahead of time. A launch that doesn’t consider vital details such as marketing, promotion and logistics will likely fail. Some other details to be attentive to include:
- Being very clear about the buyer persona you are targeting
- Understanding the buyer’s journey
- Knowing that you will probably have to generate most of your own leads
- Using social media to do product research and marketing
- Having your position on the launch spelled out early on so all team members are on the same page
- Having web-based content readily available that spells out your product’s positioning
- Touching base with launch frequently especially as you get closer to the launch date
- Training your sales team or important members about the product before launch
- Having a minute-by-minute plan in place for launch day
- Remaining customer-focused
- Practicing any speeches ahead of time
- Having case studies on hand to show how the product is beneficial
- Giving people a reason to care about your product
Pro-Tip: Create a New Product Development Checklist
The final step should be having a new product development checklist in place that includes important milestones that should be met to guarantee a successful launch. Try to keep in mind all the little things that you may miss. If need be, get the help and advice of someone who’s already walked this path. Some concepts to include in this checklist are:
- Clarifying and defining project objects
- Researching and developing the product’s concepts
- Developing an initial product sample or prototype
- Assessing initial positioning and customer feedback
- Testing the product with target customers
- Identifying possible materials supply
- Performing initial times and capacity analysis
- Determining the product design and its impact on packaging and distribution
- Conducting initial price analysis
- Obtaining safety clearances if need be
- Conducting consumer research
- Developing product claims
- Determining capital costs
- Finding out if engineering resources are required
- Planning the launch at includes deciding on goals, preparing yourself and your team and listening and responding to your team and customers
Your chances at successfully launching a new product are good as long as you understand why details matter and have a clear path to follow. This will help you become more flexible and focused.