Voice-of-the-Customer (VOC) process we applied with a client developing a new Greentech product. The product had the potential to serve many market segments and perform many functions. The question for the development team was; "which segment would drive 80% of the functionality requirements and where could they get the fastest and biggest bang for their investment?" The goal was to accelerate time-to-revenue. They essentially had one bullet in their gun and needed to hit the target with the first shot.Read More
Based on our research work with best-practice teams we’ve developed a 5-step voice-of-the-customer, or “VOC” process for aligning customer requirements with product requirements in order to determine what customers value most. The customer’s requirements are their “wants” and the product requirements are “how” you will fulfill those wants with your product or service.Read More
In this presentation I’ll discuss a decision modeling concept we’ve developed that is based on voice-of-the-customer prioritization models created with our clients and their customers. We call this “What, Want, How, and How Much.” Many problems can be seen from this simple metric. The order of these are important, which you will see later.Read More
Often product functions or features are confused with customer needs. In our world a customer need (also called "customer requirement") is an attribute that expresses some part of problem a customer is trying to solve. A product feature is specifically how the customer's need will be fulfilled. A product feature is also called a "how."Read More
Increase your new product success rate by finding the root causes of poor performance and translating these into selection criteria to pick better products (to develop). This process also uncovers issues that are causing the wrong products to be defined in the first place. Better failure analysis, i.e. why do some new products miss their targets?, can be translated into better new product selection criteria so that more good ideas get into the development pipeline than bad ones.Read More
The Right Product is the one that precisely meets the Right Customer’s product requirements. But determining those requirements and translating them into product specifications is a complex process, and businesses don’t always put in enough effort.
Highly successful companies base their business plans on the market. They study market segments and carefully choose which ones to compete in, looking for the most suitable dominant Tier 1 customer in a particular segment—the Right Customer.Read More