From target market to product definition using VOC

From target market to product definition using VOC

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.

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80-20 Rule

80-20 Rule

20% of the projects generate 80% of the benefit. We see the Pareto Principle at play over and over again as we model NPD project portfolios with clients. Many times, 20% of the projects (i.e. the $'s) generate 80% of the benefit towards reaching an organization's objectives. This means that 80% of the projects fall on the “diminishing returns” part of the cost-benefit curve. Why still do them?

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Prioritize Public Policy

Prioritize Public Policy

In preparation for a meeting with the then new Mayor of Sacramento, Kevin Johnson, we developed the following decision-model example, responding to the question, "Which combination of initiatives generate the greatest value, in order to fulfill the goals of the new administration?" This is somewhat dated today, but the concepts are relevant to any policy decision making, regardless of the timing.

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Ask the Customer

Ask the Customer

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.

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