Tips to Unlock Product Innovation Potentials

Tips to Unlock Product Innovation Potentials

In case you are developing a new product that brings a revolution, the first question that comes up is whether to start with a new insight or new technology. Posing as an ultimate question, designers have been debating on this question for years when it comes to product innovation.Although technology brings transformation into new product development and opens up many possibilities, the quantity of its use will always be an argument.

Product designers need to understand that coming up with a successful product innovation always comes from bringing the focus on consumer needs, regardless of the technology. When product development process is about addressing unsatisfied needs, innovation reaches a wider audience.

Innovation Beyond Disruption

Facebook, for example, did not introduce the idea of social networking. But the credit to innovate the way in which it can intersect various aspects through social networking site is definitely, owned by Facebook.It is somewhat similar to what Apple did with the idea of the MP3 player. Thus, it is safe to say that there is more to innovation than just ideas. Although many companies are searching for answers on how to successfully develop new products, they need to understand that it is not the end of it all.

How to Use Swot Analysis to Enhance Your New Product Offerings

In the intial levels, getting more ideas provide a great start. But innovation has more aspects to it than a generation of the idea. The breakthrough lies in the excellence of selection, execution, and development. These aspects of new product development make a huge difference in its performance. Learning is also a crucial part of new product development. If companies can learn from their past mistakes, they enhance the whole procedure.

Managing Ideas with Lightness

One of the important factors that companies should keep in mind is that heavy involvement in the new product ideas or development can work against it. The senior management wants to be present throughout the product innovation process. This involvement, however, hinders the creative aspect of the innovation process. Although they might not be interfering in the creative aspects, their presence can block free-thinking and limitless idea generation. This blockage can destroy the value of the new product causing its failure.

Precision in the Process

The new product development is a very important process. The success of the new product lies in the precise management of the development process, not the ideas. There should be different stages or decision points in the process through which the new product idea must pass, only when they fit into certain criteria, to move forward. These stages help in the development of a new product that is not an average in terms of innovation.

Understanding the Process of New Product Development

There should be at least two to three stages that test the new product idea. In the first stage, checks the possibility of developing an idea into a new product.  The last stage should be designed to determine whether the new product should be production committed or market committed. A focus on growing brands and plan an innovation cycle.

Evaluation of results and standardisation of new product development efforts is one way to unblock innovation. A management system that retains insights and learnings from previous product launch efforts helps in enhancing the magnitude of future launches. And at the end, a successful innovation depends on the creative environment and supporting procedures. Companies need to go to a great extent in creating the right atmosphere that is suitable for new product innovation.

Leave a Reply

Your email address will not be published. Required fields are marked *