Six Ways to Get Additional Product Pipeline Returns on Good-to-Great Product and Packaging Designs for Your Company: 6 Ways To Reap Value From Product Design by GGI
Big data algorithms and analytics are shedding light on long-standing innovation mysteries resulting from the 5-12 years between an innovation investment and its ultimate results. Today, we are getting a much better idea of the decisions that generate premium values and those that do not. We have packaged our research into three one-hour programs. The first program focused on seven design decisions that can be made in product planning and early product creation to design-in more value. This second program focuses on six decisions that can be made in late design through early-commercialization to reap more value than originally planned. The third program focuses on seven measures that illustrate and assess the user quality, market quality, financial viability, and financial results of great product designs.
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NEEDHAM, MASSACHUSETTS — (PRWEB) — April 2, 2019
This second of three programs on bettering the market and corporate value of good-to-great product designs, focuses on six decisions that can be made in late design through the early-commercialization phases of new product and/or packaging developments. We will discuss six topics that will generate and reap more value from product designs that are well along in the pipeline, or are early in their life-cycle.
For each of these value creation opportunities, that occur in late design through early commercialization, we will: provide a bit of history, describe how to put the opportunity into practice, provide facts and figures on the size of the revenue, profit, market cap, or cost-savings potential, and offer our best thoughts on what lies ahead.
The "Plus" in this 7-6-7 Series program will discuss a dozen selected awards and recognitions for good product design, as distinguished from the multitude of award and recognition program categories existing today.
Bibliographic references are provided for the numerous cases and examples we cite to enable all participants to further their investigation on the subjects of specific interest, including: Journal of Marketing (AMA), Forbes, Market Realist, Investopedia, Visions (PDMA), Strategy& (PwC), Harvard Business Review, JOEM (Lippincott), Research-Technology Management (IRI), McKinsey Quarterly, McKinsey Global Institute, National Science Foundation (NSF), National Center for Science and Engineering Statistics (NCSES), Medium, Scientific American, Design Management Review (DMI), European Commission, Knowledge@Wharton, and Research@GGI.
NSF & NCSES Business Census On Product Design
6 Ways To Reap Full Value From New Product & Packaging Designs
- The Value of Data Augmentation
- The Value of Opportunity Extension
- The Value of Network Amplification
- The Value of IP Leverage
- The Value of Product Announcements
- The Value of Product Awards
- PLUS: A Dozen Major Industry Awards For Best Product Designs
Business Premiums Reaped From Great Product Design Results
In its entirety, the 7-6-7 Series addresses twenty product design topics in three distinct programs. The first program identifies and addresses the value of designing-in next-generation capabilities, 7 topics. The second program addresses techniques to attain the maximum value from robust designs already achieved or in process, 6 topics. The third program addresses useful measures to quantify the degree and extent of design robustness and value, 7 topics. For each program there is an additional "Plus" section, where we highlight a number of subjects at a high level that should also be on the radar of corporate, engineering, design, and marketing leaders. Each program is recorded live, edited, and put to music. If you can't make it live, there is an mp4 video to view at your convenience or with colleagues
The first of the three programs on the market and corporate value of product design, focused on opportunities to design-in capabilities that will enhance product appeal and increase the value of products from their point of purchase throughout the product life cycle. We discussed seven different opportunities, their success parameters, and the size of the economic opportunity for each. Big data analytics is showing surprisingly high returns for doing certain things. The least opportunity represents a 20% increase, while the largest ones represent upwards to 200% increases in revenue and profit from the same design effort and commercialized product.
For each of the 7 value creation opportunities during product planning and design, we provided a bit of history, described the current status of the opportunity, provided facts and figures on the size of the revenue/profit and/or market cap opportunity, and offered our best thoughts on speed and progress in the near term.
The "Plus" section in the program described on how the miniaturization of design, next generation motors, additive manufacturing and several more topics will also begin to influence product design.
The third program focuses on measures that characterize or quantify good design in the eyes of customers and users. While some measures also have utility for internal purposes such as product quality, reliability, and cost, this program centers on how customers, users, markets, and the investor community regard the products.
We discuss seven different KPIs that range from codifying the quality and robustness of ID and UX designs, to metrics that gauge pricing gross margins and potential market value, to indexes that provide for cross-market comparisons and market cap premiums.
The Plus in this 7-6-7 Series program will briefly touch on several other metrics relevant to good product design including customer satisfaction, completion rates, NPS, and others.
About GGI: Series Researcher & Producer
Founded in 1986, GGI has consulted to over 200 medium and large companies. Some 500 companies have participated in GGI's educational events. Since 1998 the company has performed primary and secondary research on R&D, product development, innovation, and metrics. With several hundred published articles and research reports, and an equal number of public and conference presentations, GGI continues to add value to the mindsets of corporate innovation leaders and executives who are in pursuit of results.
Goldense Group, Inc. [GGI]