New Product Development
What is it all about?
You have a brilliant idea about a product or you’re brilliant enough to realize you need a brilliant product to make a difference in the market, either way, you want to talk to us and we want to talk to you. We know how to turn innovation into profit and we love doing it.
Product development can be defined as ’the process that transforms technical ideas or market needs and opportunities into a new product and on to the market.’ It includes strategy, organisation, concept generation, product, and marketing plan creation and evaluation, and the commercialisation of a new product.
Why do you need help?
When it comes to breakthroughs, even the most innovative companies face significant challenges. From wrestling with the "fuzzy front end" of the innovation process, to identifying and prioritizing opportunities, to moving concepts through the pipeline, there's no magic formula for success. Most companies recognize that new products and services are the lifeblood of the future - and that it is imperative to maintain an abundant pipeline of product and service concepts that range from line extensions to breakthroughs. The challenge is a formidable one: extend existing products to maximize their contribution throughout their lifecycle while concurrently introducing compelling new offerings that may potentially cannibalize the existing portfolio or create new categories of growth.
How can evneo help?
By tapping into the power of foresight and insight, we help you step back, understand the broad opportunity space, so we can innovate from a new vantage point. Unlike many consulting firms that jump hastily to "concept-level ideation", we then work with you to define your most promising "growth platforms". Inspired by consumer insights and emerging trends, these growth platforms represent powerful ideation "springboards" that lead to the creation of multiple, product, service and solution concepts.
Our proprietary approach to new product, service and category innovation delivers a portfolio of offerings from incremental to breakthrough, and from short- to long-term. By aiming high - and by seeking to identify longer-term growth platforms and related concepts - it becomes possible to innovate strategically. Even when our focus is new products or services, we also help articulate the overarching strategic requirements for their ultimate success.
