Farpoint Marketing Consultants - Supporting clients develop successful marketing solutions - prod dev

By: Farpoint Marketing  09-12-2011

Product Development Challenges:

  • Uncertain profitability
  • Highly competitive market
  • Time to market too long
  • Products reflect internal priorities not Customers
  • Ad Hoc product development process

How We Can Help:

  • Customize a proven cross-discipline process to keep your product introduction on track
  • Develop the process with your team to transfer knowledge and integrate with your existing processes and systems

Farpoint's Product Development and Introduction Process (PDIP)

We Deliver:

  • An analysis of your current product development processes
  • Recommendastions on how to improve process and support systems
  • Development, documentation and implementation of new process
  • Mentors, Templates, & PC tools to support your product development primes

Often dismissed as unnecessary and overly bureaucratic, it is process that plays a key role in the success of products and companies. In highly competitive and innovative markets, many companies have discovered that a disciplined Process driven by customer-focused marketing can help develop and adapt products that improve competitiveness and bottom-line performance. Our Product Development and Introduction Process (PDIP) has the power to pull all the elements of product or service
introduction together in a way which cost-effectively focuses on customer requirements utilizing all the internal capabilities, knowledge and efficiencies of the organization. With clearly defined team roles, responsibilities and accountabilities, PDIP facilitates the development and introduction of customer-focused, strategically aligned products on time, on budget and on spec. PDIP Goals:

  • Improve time-to-market and cost efficiency of cross-functional process;
  • Focus cross-functional team on introducing products and services that address high customer value needs;
  • Ensure product development aligns with objectives and strategies to increase revenues and profits; and,
  • Facilitate cross-portfolio management control of company resources.

Our Experience
Farpoint's PDIP specialists have successfully converted Product Development teams from entrenched ad hoc processes to a custom-designed PDIP. Some of the key bottom-line advantages observed as a result of PDIP include:

  • Increased focus on what is valuable to customers
  • Evolution towards portfolio with higher returns
  • Rapid and responsive decision making, funding and governance
  • Facilitated communication and synergy across business units to:
    • produce superior products,
    • increase productivity and
    • anticipate future requirements
  • Elimination of unnecessary or uneconomic information and processes

How We Deliver
To achieve these results, Farpoint employs the elements of PDIP to deliver a custom product development process. This includes a joint team to facilitate the mentoring or training of your resources and adaptation of systems. Key concepts that will contribute to your successful product development and introduction include:

  • Project managed, pre-defined multi-discipline process, with clearly defined team roles and responsibilities;
  • Milestone "Gates" ensure development proceeds in orderly stages from Ideation to Product Launch;
  • Business Case updated at all steps to provide an ever-increasing level of accuracy and basis for management control;
  • "Funnel" approach ensures non-profitable or off-strategy projects are stopped or redirected quickly
  • A project manager to coordinate all activity and keep the PDIP team focused on its objectives; and,
  • Electronic "living" documentation to enable constant updating of all aspects of project for management and team.

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