Are you planning version 1 of your product?

Nikhita

Nikhita

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Product development is all about a well-executed idea and offering innovative benefits to the end user. The entire drill is a four step process of ideation, opportunity realization, problem identification and execution. A simple product shapes remarkable experiences. Creating that first impression with your product is quite a challenge but it triggers a continued use.

Ideation

Ideation is the most crucial phase of product development as it defines the purpose of your product. While there are thousands of ideas, how do you ensure yours is unique? How do you go about choosing a concept that has potential? Most of the times, your idea has already been shaped into a product by someone else. People get stuck with ideas trying to find the perfect one. They often forget that in order to make their vision a reality the ice needs to break - a quick execution and reaching out to customers is what it takes.

Opportunity realization

How did Uber make it big in an already crowded space? With similar services available, it was certainly not a lone battle for the San Francisco based startup. Disrupting the global taxi industry, Uber addressed a widely felt consumer problem of providing individuals the taxi cab service at reasonable prices. Thus, successful products are always shaped around opportunities, opportunities that are realized from the bigger problems consumers face in their everyday routine.

Problem identification

Since we are referring to Uber, one can hardly overlook the fact how the company has become much more than a ride sharing start up. With an intention to up the ante for the taxi cab industry, the company is also building a logistics platform that captures and predicts supply & demand so well that it can be applied to many other commercial domains.
For your idea to stand out, the focus must be on the problem it will solve.

Execution

Building innovation into your product development process is not at all easy. Good product owners have a natural ability to guide product vision for agile development. A comprehensive plan right from ideation to testing will help your execution process go unruffled.

Product development is a proactive process with a purposeful invention. It is important to understand here that despite being innovative and exciting; your ideas may be trashed because they do not solve the purpose of what is currently required. Companies that will come out ahead in the next few years will be those that conduct a quality environmental scan and indulge in cross functional collaboration for developing a product.

Pepper Square endorses the ‘Design Thinking’ approach to transform the potential into actual to make your products and solutions reach the right audience at the right time.
Learn more about our product development services here

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