Decoding on Product Excellence
Classically the key drivers of any ‘Great Products’ are intrigue and sense of confidence business enterprise creates in any given product/ category among a company’s customers, employees, stakeholders and investors and eventually in its financial success. Indeed the ever need to create not just one, but a series of successful products/ services has fundamentally gone up historically: customers are today spoilt for options than ever, as it is fiercely competitive up there, failing loyalties and demanding customer, and escalating unprecedented investments & stakes have made the market place more & more complex going forward.
Needless to say ‘Great Products’ need the best of marketing & sales also persistent product development, Besides overall intensive collaboration within and outside the environment is most timely today than ever before: on the one hand, discerning customer the value it tends to see in products, through the appropriate analysis of the customer insights matrix, to derive & acquire the product strategy and positioning; on the other hand, the product discovery ideas with an integrated design engineering-to-cost conservation and modular approach & thought process.
Great products are fundamentally the fallout of cross-functional thinking and “building bridges/ hiatus” between technology and customer orientation, embracing a wholesome conception of end-to-end customer experiences/ perception thinking about contextualizing systems, and usage scenarios, implementing a superlative engineering based on granular customer insight and systematic techno-commercial excellence, optically balancing the use of simplicity and complexity for strategic differentiation on the portfolio and product level at large.
Nuances on Product excellence
Real product excellence generally drives company success.
Product Excellence driven out of round the clock consumer key insights
An optimum price v/s performance matrix evaluation where Design to value is going to be paramount.
What the entire journey entails
Product portfolio/ modular strategy & real life tough core product portfolio choices to be made in different situations.
Complexity optimization in the ever dynamic global market place is going to be vital.
Making platform and module strategies work in lower volume industries
Customer-driven design: from the periphery to the core of the product development process. World-class product design: ideas and well-structured best business practices
Comprehensive & integrated product planning, management & monitoring to keep the dots connected
Accelerating time to market in the real time
Mastery/ optimization of processes and resources in terms of product positioning and concept development through continued value addition.
Maintaining a relentless vigilance on the state of competition to stay competitive in the given space
Endeavor to consistently create a differentiated product and value proposition.
In the classical terms “A lot will also depend on the commerciality, technicality and core DNA/ management philosophy” going forward.