Product Development Methodology

The goal of early stage companies is to complete product development by listening to the marketplace. The initial goal of a start-up should be to rapidly reach out to the marketplace and incorporate market feedback into the development plan.

However, initial business plans can be incomplete or based on assumptions. Often the technical development team is in place before the marketing infrastructure is created to refine the development direction. Therefore, the development team can charge forward with a vision of what needs to be done without real-time market feedback.

Igeneco works with early stage companies in linking their development with marketplace. This increases the chance for a successful product launch. The following is the methodology:

  1. Distill Marketing Message into Concise, Professional Website/Marketing Materials
  2. Investigate & Refine Business Plan
    1. Determine Unknowns and Uncertainties
    2. Identify & Contact Companies and Individuals in Relevant Industries
    3. Validate from Industry Contacts what is thought to be Known
    4. Target Relevant Tradeshows
    5. Obtain Market Studies
    6. Perform Benchmarking
    7. Determine Market Segmentation & ROI
    8. Distribution Strategy
  3. Couple Development Effort with Strong Linkages to Potential Customers
    1. Establish Relations with Individuals within Key Companies
    2. Create a Feedback Mechanism Between Internal Development Team & External Contacts
    3. Benchmark Potential Competitive or Similar Products
    4. Develop Specification Document for the Development Team
    5. Develop a Testing Methodology Based on those Accepted within Industry
  4. Create Marketing & Public Relations Plan
    1. Schedule of Tradeshows
    2. Establish Relations with Key Publications
  5. Gantt Chart for Product Development/Launch
    1. Determine Sales & Marketing Plan to run in Tandem with Product Development