Customer demands, needs, and aspirations are changing faster that ever. The instantaneous speed at which product news travels through social media platforms can propel a product to number one spot overnight, or kill it in its tracks.
Implementing an evolving product capability ties into a business agility plan. Shifting to incremental product releases that facilitate constant prioritization of product features requires a shift in strategy, culture, and tooling.
What does product evolution really mean? Well, think of something pretty mundane like a broom. One first might rationalize there’s only so much that can be improved about it – handle ergonomics, efficiency of its bristles, or color aesthetics. But that’s not what product evolution is about – it’s about truly evolving a product to perform the same function more efficiently. Thus our mundane broom evolves into a vacuum cleaner which in turn evolves into a automated cleaner such an Roomba, the function remains – but the physical characteristics and capabilities evolve.
Product evolution also includes integration of multiple functions into a single device. The mobile phone has replaced the need for “point and shoot” camera and a Personal Digital Assistant (PDA) – remember those? These integrations of capabilities opens up entirely new product markets which then begin their own evolution path.
We’d be delighted to talk to about embarking on a product evolution path – schedule a free consultation today!