STAGE 2
Working together, we help you to build a strong foundation for your product development process. This stage is essential in ensuring the product’s feasibility and desirability in the market, as well as its overall success at launch. Throughout the product definition stage, we help you define the product’s features, target market, pricing strategy, and go-to-market approach. Our approach ensures that all key elements are carefully considered and refined, to align with the unique needs of your market and customers. By doing so, we help you create a roadmap that sets the direction for your product development process and prepares you for a successful product launch.
Key areas of focus include:
- Defining product features and specifications and determining product functionality and physical specifications to meet target market needs.
- Establishing the pricing strategy. This includes considering the cost of production, competition, the target market's willingness to pay, and overall market trends.
- Assessing potential competition and market threats and analysing current and potential competitors and their products, as well as potential market disruptions or changes that could negatively impact the product.
- Ensuring the product definition fits with the company's mission, goals and objectives.
- Creating a roadmap for introducing the product to the market. Outlining key activities, resources, and timelines needed to successfully launch the product and achieve business goals.