STEPS FOR PRODUCT REDESIGN
Have you ever wondered how to relaunch your product on the market? If so, stick around and we’ll explain our approach to this challenge.
It is clear that the pandemic has reminded us how fast everything changes, but above all the need to be able to adapt in an agile way. There are many factors that accelerate change, and in order not to be left out of the market, we need to understand what it needs and what we can offer it, taking advantage of the resources available. We need to understand what they need and what we can offer them by taking advantage of the available resources.
At Idea Strategic Firm we call RE-launching a product all that second chance we offer to a mature product, which has worked in the market and that for various circumstances, exhausts its time of validity in it. In a way, we try to reintroduce an improved product into the flow, causing the minimum impact on the client, with a nod to the circular economy.
What steps should be taken to re-launch a product on the market?
In order to carry out this re-launch, we have to thoroughly analyse the market: from the reasons that have made the product obsolete to the trends based on user behaviour and their effects. We do not have a magic wand, but we apply «continuous product improvement», the so-called Lean Product Development.
We create different variants to take advantage of user feedback and obtain a faster response to reduce the uncertainty of the market launch.
We propose different investment scenarios based on the implementation to be carried out, with the client always having a condition of security in the movements to be made. We give the client an opportunity to analyse all the investments related to the product, in order to try to relaunch the product with a limited investment according to the level of redesign.
We agree with the client a transition of the product in sequential scenarios in which the investment is diluted taking advantage of the windows of opportunity, always having a solution aligned with the client’s expectations.
We apply our more than 15 years of experience analysing the behaviour of products according to their life cycle. We achieve an advantageous market position by having controlled investments according to the need and scope of the product situation. In this way, Idea Strategic Firm positions itself as a link between clients and industry, a promoter of a valuable industrial network.
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