Product development

In modern companies, this is often under the umbrella of the Product Management division (PMO, for example).

It goes through different phases, such as:

• Finding problems worth solving. (See also problem-solution cycle).
  • In this case, the jobs theory is an appropriate tool to identify opportunities.
  • Creating competitive landscapes
  • Identify missing expertise in the company
  • Is it a new product or a new feature?
• Designing
  • How would a solution to the problem look like?
  • Not just UI, also what the user does not see. How is data stored? (User Experience)
• Building
  • Iterative releases (easier with software than hardware)
  • Prioritization is important
  • It has to be iterative with design. Issues and opportunities may arise that require new design choices.
  • minimum viable product to test the core features
• Sharing
  • Launching
  • Sharing with target customers
    • Marketing
      • Interruption Marketing
      • Inbound Marketing
    • Focus on benefits, not features
    • Capabilities, not technology
    • Differentiation
    • Value proposition
• Assessing
  • What do we do next?
  • How was the process?
  • Identify strengths and weaknesses -> What can we do to improve?
  • What metrics do you use to judge success? Revenue, number of users?