① MEASURE product opportunity gap (POG)
② TRANSFORM product and service ideas into profitable assets
③ REEVALUATE product and service offerings, keeping market equilibrium intact
What Some Want and Nothing Less
How do you navigate NPD and NSD?
New Product Development (NPD) and New Service Development (NSD) may be the lifeblood of future revenue growth for your company. Fortunately, by following a few general guidelines, you just may determine which way to direct your company.
Back in 1903, if Henry Ford asked what people wanted most in terms of transportation, they’d probably say “faster horses.” A car, the Model T, was the actual solution. Suffice it to say, some people may not know what they really want or need, and your job is to determine what it is, and to only sell that.
One shouldn’t create just to create. Pertaining to technology, people don’t actually want technology, but what they want is value. Value is synonymous to solutions for people’s individual needs.
