Eight Steps to Designing New Products for Business to Business Customers: Q&A

Larry is a product development leader for business to business (B2B) markets. He is skilled in coaching product development teams on how to identify and measure market satisfaction gaps and fill them with profitable new products.

  Estimating   Innovation  

In the webinar Eight Steps to Designing New Products for Business to Business Customers, Larry Micek took us through eight steps on how we can improve new product development success rates. The session was packed with information, and below are the questions and answers that came out of that session.

1. I think mismanagement of SDLC process and lack of risk management is the primary reason for product development failure.
I think your statement is true and might be applied to any project. In the case of new product development, the eight-step process is a risk management strategy for new product development. By creating a product design based on measurable customer outcomes and pre-marketing the product design through close customer information exchange, we manage many uncertainties in new product development. These eight steps can also be used as the introductory phase of the SDLC for new product development.

2. What is the full range for the Market Satisfaction Gap Score if 30 is acceptable?
0 to 100.

3. Market satisfaction can change with the change in economy?
It would be a fair assumption. Since it is based on importance and satisfaction measurement, the scores could change. For example, if costs to manufacturer becomes more of a factor due to weakness in the economy, then customers will shift their importance and satisfaction scores. If the economy is …

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