Market or R&D Driven Product Development?
IT’S BOTH! If you answered one or the other, you are not optimized for the best outcome. It is imperative that Marketing and R&D are working as partners and equals on any product development program. While there are disagreements and conflicts, working through those is what yields world-class product portfolios.
Market Driven Outcomes
- Market understanding and sizing drives product opportunities
- Strong competitive understanding (SWOT)
- Customer voice being utilized
- Support unique value proposition
R&D Driven Outcomes
- Innovative products/broad thinking
- More realistic schedules
- IP optimized
Evaluate how well your Marketing and R&D teams are working together. There must be an obvious and almost tense relationship to ensure the best product is designed, driven by user needs, competitiveness, innovation, and time to market. More importantly, there must be trust and mutual respect to have the best outcome. It is always a game of trade-offs that need to be made based on solid market and R&D constraint understanding.
With decades of product marketing experience working with many R&D teams, Profitum Consulting can help you optimize this unique cross-functional relationship to yield a world-class product portfolio for your company. Call 760-695-6772 for a consultation and evaluation of your product development process or email firstname.lastname@example.org