Successful new product development and launch is key to a good manufacturing business, but only about 30% of products launched to deliver the returns that were expected of them. Therefore, we want to take you through some leading Product Design and Development mistakes which we see made time after time again by manufacturers. So here they are:
No Market Research
No market research for gathering useful information. A good product concept and the product was commercialized without any sweat to discover if there is a demand for the product from consumers. After the early delays, the product is not withdrawn but, the price is reduced.
No Feedback
If you make your whole product in a silo, without getting feedback from your intended customer, you’re more likely to wind up making something nobody wants. In addition to this, the way to get around this possible drawback is simple to get feedback in the process not only from people internally but also from the people who would be using your product regularly. After getting feedbacks, you should listen to that feedback and let it inform your product development according to that.
High Price
People don’t want to buy the product because it is expensive. So, the pricing of the product needs to be consistent with the benefits it tries to find to provide and with the wallet of the target consumer. If the cost is too high, then the end buyer will ignore the new product and will stay on the shelves at stores.
Focusing on luxury features
There are mainly two types of products in product development. 1) First is full of functions features, and uses. 2) The lean and agile focused on certain features or functions but doing it better than others. If you take a look at the market, then you will find out that those single-focused products are the most successful ones. So, must do the research to find which one is the best to choose and go with that.
Do not ignore package design
Businesses sometimes forget that customers may interact with the packaging before they interact with the product itself. Also, a buyer’s first impression of your product may be based on packaging and if it doesn’t resonate, then chances are they not going to buy. So, treat your package design and development as a vital part of the launch process.
Delaying A/B Testing
Several people postpone A/B testing until the last possible moment. We know that you don’t need to be running A/B tests when you only have a few users. But it’s true that you should implement it as soon as accurately possible.
Maybe you recognize some of these mistakes from past development or design projects, but have a look at your new products which are presently undergoing development as well as check that you are not making the same mistakes this time.
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