Make Your Next New Product Launch a Success
Bringing new products to market is a chore. You’ve got a great idea upon which you’re betting the R&D expenditures, your professional reputation, and maybe even your start-up’s future.
In fact, Go To Market, or commercialization, is by far the most expensive part of the new product development process. Yet, it’s all too common that companies rush to market because of the passion behind the new widget’s features.
Go To Market Numbers Are Working Against You
Studies have shown that only 1% of new ideas become product concepts and of those, only 25% become profitable products. This means that most new product ideas fail to create value for customers. And even though many companies use a Stage-Gate process to manage the risk of new product and service development, many have delivered disappointing results.
How can we help?
Gelb has identified best practices for Go To Market among innovative Fortune 500 companies such as 3M, Xerox and Sony in our work with the American Productivity & Quality Center. We understand how to use market information to validate customer needs, developed valued products and services and nurture innovation.
We work with clients from all types of organizations to bring new products and services to market, with strategic planning based on customer needs and market dynamics. We help our clients define their new offer in customer-centric terms and focus on benefits. We can then test these concepts among decision-makers and industry experts to suggest refinements.
By identifying critical success factors for adoption, your chances of market entry are much greater.
- A repeatable Go To Market process for multiple new products or services
- Engagement with sales, marketing and product development
- A substantiated go/no-go decision
- Business growth
How do we do it?
- Using Advanced Techniques such as lead user to get at real customer needs
- Performing a rigorous Customer Needs Assessment
- Engaging customers directly in solutions development with a Customer Advisory Board
- Prioritizing efforts with Market Segmentation
- Examining price, feature and brand trade-offs with Conjoint Analysis
- Prioritizing decision factors with Maximum Difference Scaling
- Promoting the product with consistent messaging through Message Mapping
- Making the most of scarce sales and marketing resources with SMART
- Providing oversight and guidance with our Interim CMO program
