Product Development
With the proposition(s) agreed, this step is where things start becoming real and the focus is on preparing the organisation for the implementation step. Our approach is to combine an example with hard-nosed financials to make the case for the new product feature(s) and satisfy your governance procedures.
Framework
- Make it Real
- Mock-up: Non-functional example of what the new product feature(s) will look like to customers
- Prototype: Similar to a mock-up but including some key areas of functionality to allow a more detailed view of the product feature(s)
- Test & Learn: Exposing the new product feature(s) to existing or potential customers in order to get feedback which can be used to add credibility to the innovation story
- Financial Appraisal: Detailed analysis of the financial potential of the new product(s) showing P&L impact, NPV, IRR and payback period
- Business Case: Combining the details of the change being made with the financial appraisal into a full business case document that makes the case to go ahead and implement
Innovation Age Product
We offer a full business case writing service which, if required, can include advising on what type of mock-up/prototype would be appropriate and helping with the stakeholder management required to get full approval. In addition we can advise on test and learn options using the latest crowd-sourcing techniques.