Product/Service Innovation

Whether you're in technology, health care, consumer products — or most any other industry— the future belongs to those who innovate.  You can do this either by developing new markets for existing products, or by developing new products.
 
 
Innovation that is evidence-based has a much greater chance of success than that done solely by 'back-of-the-envelope' figuring.

You need answers

In developing and launching new products (or services), you'll consider some critical questions:
  • Is this product new-to-the-world (see above), or just new to us?
  • What is the core value proposition, or customer benefit?
  • How big is the market in terms of revenues and profits?
  • How fast is the market growing?  How big will it be within 3-5 years?
  • What factors could impact growth and/or profitability?
  • What is the geographic scope of the product's potential market?
  • Is new investment coming into this industry?  If so, from where?
  • Are there other players in the market?  Have we competed against them before, or are they new to us?
  • What role if any does government play?  NGOs and not-for-profits?
  • What are the adjacent segments, and how do they fit?
  • What business models are being used by the most successful players?  What seems to not have worked as well?
  • How would the product fit with our existing businesses?
  • What investment would be required?
  • What are the market entry barriers we'll need to overcome?
  • What barriers can we create to impede others in entering the market?

How can TKA help you?

We help you by:
  • Mapping the key segments within the market, and their relationships
  • Identifying the most relevant and productive sources of data for the market
  • Capturing and analyzing quantitative metrics and qualitative indicators to create a dynamic model of the market
  • Scanning for opportunities in both core target segments and adjacencies
  • Evaluating those opportunities against current capabilities, business ecosystem trends, and probable future scenarios
  • Developing full business case ROI analyses suitable for presenting to management and/or funding sources
  • Serving as an objective sounding board and source of reality checks
  • Assisting with market entry strategy development