Creating new products or leveraging existing products that satisfy consumer and client needs.
Companies and organizations are continuously trying to design new products or redesign their existing portfolio offerings to maintain or increase market share in order to satisfy consumer needs; however, consumer behavior changes constantly due to the increase in competing businesses and fast changing markets, and these rapidly evolving environments represent big challenges that companies are no longer able to overcome by themselves.
At INSITUM, our mission is to help companies successfully adapt and respond to those swift changes by deeply understanding consumer and business needs before developing product-centered solutions that are viable and feasible for the business as well as satisfying to the consumer.
Design new products or leverage existing ones in order to satisfy consumer needs and help maintain or increase market share.
- Trend analysis:
Research and identify important trends that are affecting the sector or industry and use the insights to inspire and inform further work.
- Consumer needs assessment:
Understand the consumer and business in order to empathize and detect opportunity areas.
Develop ideas for new products based on the opportunity areas identified.
- Idea analysis and validation:
Identify potential ideas and perform deeper evaluations to understand the desirability, viability, and feasibility of the product.
- Concept development:
Consider all feedback obtained from the validation phase and develop final concepts.
Visually map strategic recommendations with the intent to develop and launch solutions in a timeframe roadmap that covers short, medium, and long term goals.
- Potential concept analysis:
To determine its business potential, each promising solution will be validated for feasibility, viability, and desirability.
- Identify potential concepts:
By cross checking evaluation results with research feedback, determine the most valuable concepts and requirements for implementation.
- Map solutions:
Based on the results, the solutions, as well as the jobs to be done for their launching, will be mapped in a timeframe roadmap.
PRODUCT LINE EXTENSION
Define strategies that expand the product and category portfolios of your company within your industry or into new industry sectors.
- Portfolio analysis:
Understand the current portfolio in terms of products and categories and identify the attributes needed to maintain and expand.
- New industry/sector analysis:
Analyze the sector or market your company wants to expand into and identify guidelines and possible paths for execution.
- Product line extension definition:
Develop new products that allow your company to expand into new categories or industries.
- Line extension validation:
Validate the line extension with consumers in order to make sure they are aligned with the brand and the product's core attributes.
Develop rapid, low resolution prototypes of concepts and solutions that have been defined as valuable and relevant to your business. Create concrete representations of the concepts and solutions for objective testing and validation.
- Concept selection:
Define concepts that are valuable and need to be prototyped.
- Guideline definement:
Develop design guidelines for the concepts that will be prototyped.
- Prototype definition:
Analyze which prototype best suits the solution, e.g. pilot testing, physical prototype, digital mock-ups.
- Prototype development:
Construct the prototype.
- Test and validate:
Use the prototype to test and validate the solution.
PRODUCT DEVELOPMENT MODEL IMPLEMENTATION
Define an innovation model and use a systematic approach to internally develop new products or leverage existing products.
- Product development process analysis:
Analyze the process and frameworks currently used by the company's internal teams in order to detect opportunity areas.
- Product development model co-creation:
Work with key stakeholders within the organization in order to define the best possible model for implementation.
- Model implementation strategy:
Develop a strategy in order to implement the model gradually within your organization.
- Implementation follow up:
Accompany your organization throughout the process and iterate on any new opportunity areas that arise.
LOCALIZATION OF PRODUCTS
Launch existing products in new regions. Ensure the right features and changes are in place so that your product is accepted within the new market.
- Market analysis:
Analyze the new market and identify the characteristics that the product needs to possess or satisfy in order to be accepted.
- Adjustments definition:
Identify characteristics that need to be adjusted or developed and make the necessary changes to the localized product.
- Concept validation:
Validate the proposed concepts within the market in order to identify and iterate on opportunity areas that arise.
- Strategy definition:
Define final concepts of the localized product and create a strategy for its market launch.