Let’s start by an assumption that you have discerned that a need or opportunity exists for our quest. We would have arrived at this conclusion by knowing that a like product exists in the market and is doing quite well. One of the first processes we would undertake is establishing the consumer does not see this as, an only one of its kind and there can be no replacement or substitution. This can be accomplished by a survey that includes the dynamics of the current users, but must also expand the current customer to see if we would have market/multi-market and segment opportunities. To make sure we truly survey effectively we must note time of day, any extenuating circumstances, making the same conditions available to each survey team, with specific requirements as to who, how and when customers will be surveyed.
Second stage is discerning the information using the tools and graphs specifically designed to give us an unbiased view of our potential. This is when our potential new product manager must evaluate the need verses the anticipated return when reviewing the customer’s voice. A consensus of team members must agree unbiased that this project is not to be implemented to fulfill ones ego but that a need exist and profits can be derived in spite of our existing competition to satisfy ROI, and staying power in existing channels and proverbial new untapped opportunities.
Stage three, we must know our supply line and it must exist within the opportunity realm of our competitions source. All components of the supply must be verified, measured for consistency, pricing stability, defect opportunity possibility and the ongoing metrics to establish consistency and solvency of the supplier. A team member must be assigned to randomly inspect all of the above with written specifications at various intervals to truly test the supply capability. Verification frequently of financial viability with certification to ensure a stable management system is in place.
Now we need a distribution network that will span the anticipated market. The extension of this project will warrant another article along with a consumer development segment.
These projects must be completed thoroughly in order for us to achieve “A ” customer and repeat purchases because we will minimize defects and satisfy his needs.