Raising the Odds of Success in Developing New Services

Sponsored By Oliver Wyman

Topics:

Budgeting & Planning > Strategy

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Abstract:

In a world of product proliferation and growing customer information and power, creating products and services that stand out from the crowd and create real business value is a major challenge. Product development approaches that rely too heavily on engineering technology and executive intuition to inform decisions deliver predictably poor results. An outside-in approach that starts with consumers’ priorities is far more effective. When development managers achieve a deep understanding of what consumers value, winnow the many new ideas using hard business criteria, and test the high-potential products using advanced customer analytics, they can make smarter decisions and get to market faster. An effective product development process thus is critical to counter the forces of commoditization.

DETAILS

Sponsored by: Oliver Wyman

Posted: September 30, 2008

Length: 8 pages

Format: PDF (674 kb)

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