Skip to main content

Product development: a focus on product design

Hello readers, so I will be looking at 4 processes of product development today. This includes the initial stage, product design stage, product implementation stage and the final stage.

Initial Stage
This looks at what the product must be like in order to meet the needs of their target markets (potential customers). I have written an article on meeting the needs of target customers

Product Design Stage 
During this stage is when the product is created and it also the stage that will contribute a lot to reducing the cost of the company. Minimal cost incurred can help you stay competitive in the market. You must focus on making sure your operating cost are low enough. When products are produced in larger quantities you fixed costs can easily be convered. Thus there must be no underutilization of your resources in order to minimize cost effectively.

The way you must not underutilize your resources you must also not overutilize them as this will lead to a fall in the quality of your products. Market leaders use both quality and price to compete in the market. They are usually not the cheapest in the market but the one that offers customers good quality products at good prices. Thus, when you overutilize your resources you will have more defects. Having to pay a premium price for overtime services provided by staff will only also increase your cost as well as tamper with the work-life balance.

Your cost of supply should be reasonable low. Your bargaining power also matters as you must be able to buy from a cheaper supplier. Another factor that might affect cost is technology 

Product Implementation:
This is a stage where the product designed will tested to know if it meets the requirements specified.

Final Stage
This stage helps with introducing the products to the market. It scans for opportunities in the market  and analyses them. Afterwards ideas are developed on the efficient and effective way to introduce the product to the market.

Products are goods or services or both. Keep checking my blog regularly. Cheers.


Popular posts from this blog

Work-life balance: all should attain it

Hello readers, today I will be writing about work-life balance. According to, work-life balance "is a comfortable state of equilibrium achieved between an employee's primary priorities of their employment position and their private lifestyle." All work and no play makes Jack a dull boy, thus, you should find a balance between work and play. Here are some tips to help you achieve it.
1. Do not check your email (work) after working hours, this will help improve the quality of time you spend with your family and friends. Thus, you should not be distracted by work when spending time with your family and friends. 
2. When you decide to improve the situation of your work life balance, take it one step at a time. For example if you do not get to spend time in the evenings with your family during the week days due to coming back late from work, you should decide to spend one day a week and gradually increase it to two and then three till you get to spend the…

Eid Mubarak

The world of competence

Hello readers, it has been a while. Hope you did not miss me much, the good news is I am back now. Today, I will be writing about competence.
Competence is the ability that enables a company or an individual to deploy its resources effectively. It is neccessary for a company to have a competence target in all its business activities so as to deliver value to its customers. This will help create a competitive advantage for the company.
Competencies must provide value to customers. It must be unique or able to develop greatly or be better than that of competitors. New products and services must be able to be developed as a result of the competence. It must be difficult for other competitors to obtain or imitate.
Continually producing high quality products can make a company become a market leader (which is a core competence) as it provides a company with a competitive advantage. With high quality, higher prices can be demanded by the company from customers and the company will also be able…