Product innovation strategy

Product innovation strategy

 
Product Innovation Strategy

Logic20/20 creates a comprehensive strategy that can set your product for success in the market. Our innovation development plan starts at idea inception with market sizing and continues through customer segmentation and the creation of a dynamic go-to-market plan. By investing in your strategy from the start, you can target your product to the right people. Extensive research ensures we uncover who to target your product towards, new markets that weren’t initially considered, and those you should avoid marketing to. A dynamic market model helps tune based on shifting circumstances throughout the development lifecycle.

 

product innovation

 

Product innovation starts with defining the audience (or audiences) that would be interested in using your product. Marketing Sizing establishes the total available market (TAM), serviceable available market (SAM), and the serviceable obtainable marketing (SOM). The core purpose of this phase is to validate the innovative idea and perform a constraint analysis to assess whether the ideal is worth the investment.

 

Every potential audience for your innovative product speaks their own language or could use your product for different reasons. Customer Segmentation delivers an understanding of targeted consumers through Personas. This phase is an imperative step to delivering targeted, impactful messages to the market. It also supports future market activities and customer experiences.

 

Launching your product into the market requires careful planning. Channel Development/Go-to-Market planning provides a deeper level of insight on both the market size and the customer. We develop a go-to-market plan that will capture the ROI that our market-sizing efforts suggest.

 

What We Think

Successful product launches require solid innovation strategy

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A comprehensive go to market strategy is critical for product success

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Dynamic Market Models Give Insight into Business Opportunities

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Rich Sturm 

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Rich Sturm
Practice Area Lead, Strategy & Operations
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