Scenario: a product development team at a medical device company had a testing phase that ran far longer than expected. This delay rippled throughout the project and had serious implications downstream. After the project was complete, the team leader wanted to go back and figure out why the test phase had not gone as planned. …
The two most common product development metrics are R&D spending as a percent of sales and revenues from new products over time. These metrics, although necessary to track, do not predict a result. There’s no linear relationship between R&D spending and new product success. For example, a company might allocate ten percent of its R&D …
Innovative cross-functional teams in technology companies often depend on individuals with highly technical, specialized skills. They’re on the edge, extending their disciplines where they haven’t been before. Teams like this require upper management support that enables their success. It does not need micromanagement – or its opposite, chaotic management that is no better than neglect. …
Social media is incredibly effective for conveying marketing messages and for receiving rapid customer feedback. The effectiveness of social media for outbound marketing activities, i.e. getting the news out about new products offerings, and interacting with customers, is well known. But social media is also a tool for inbound marketing – for understanding the customer …
Every innovative product begins as a concept in the mind of someone or some group of people. These concepts are the seeds of your company’s future growth. How is your company cultivating these seeds? How do companies manage this asset, the portfolio of product concepts, even before they enter the pipeline? In our experience, product …