The 4 Important factors to develop your Tech product(s) successfully

Technology has advanced at a rapid pace in the past 10 years. It was only logical for processes of tech product development to follow suit. There is immense competition across the world for tech products such as Iot enabled devices, mobile apps and other products that enable us to stay connected and monitor our most precious belongings. They also enable us to work and play on the go.

Coming up with a more responsive system for product development

It took us little time to realize that various supply chain processes are deeply interdependent on each other. The need of the hour was to develop a more responsive system to cater to these interconnected and interdependent processes. Managers were prompted to come up with levels that allow increased returns per dollar invested and more effective product development. Here are the most important factors that affect the development of your tech products.

1.      The Idea Itself

The source of the ideas for a tech product can come from market research data or even outsourced from consultants. They can be from within the organization (i.e. from researches done in the past) or from external sources (such as consultants). When brainstorming for ideas, let them come and do not criticize the one giving them. That part comes when potentially successful ideas are screened out, based on competition and the costs involved.

2.      Testing ruthlessly

We all remember how miserably the Samsung Galaxy Note 7 failed, after incidents were reported of the smart phone catching on fire. The company ended up recalling many of these smart phones from the market and kept its “audience” glued to the internet in anticipation of the Galaxy S8 and S8+. If Samsung had carried out more tests on the Note 7 based on anticipated tech product issues like this, before the release of the phone, they would not have had to recall the Note 7.

3.      The underlying marketing strategy

Without a strategy to get the proposed tech product to the (intended) audience, there is no point in coming up with the product at all. There needs to be a well-defined marketing strategy for the product that involves focus groups, metrics and beta testing. Even if the product doesn’t end up going out.

For instance, you come up with an idea for an app and test it, only to find that it hasn’t been well received from the target audience. The key insights you have from the focus groups and metrics are far more valuable than the tech product itself as it will help you avoid the mistakes that you made when developing the current product.  

4.      Better Concepts

Why do automotive companies always take out “concepts” before they release new cars? This is because they are smoothing out the edges on their final tech product so that is well accepted by their audience and that the final product comes out better. Just imagine if innovative cars such as Tesla Model S or the Porsche 918 Spyder didn’t have concepts!!! (One shudders just thinking about it.)

If you would like to have a tech product developed, don’t hesitate to call XYZ Creative Group at 305.283.9735.