Historically, product development is based on R&D, first and which is predominant is driven through customer feedback. Second is the innovation that engineering companies try to bring in during product review while bid evaluations and to re-align market( here client) requirements.
So, invariably, for the product development, the push on R&D is mostly through the engineering companies than the customer feedback. Any thoughts? Saving Changes...
Yes the push is mostly through the engineering companies that try to differentiate themselves from the competition. Although the product development depends, the major part, of the customer feedback, e.g. investment in certain telecom products and services depends on customer acceptance, mobile tv by satellite (DVB-SH), mobile multicast (MBMS), rich communication suite (RCS), etc. Saving Changes...
If it is highly disruptive or innovative, then engineering likely will provide more of the vision and requirements. If it is well established and incremental evolution is involved, then customer feedback will likely be a greater contributor.
I feel initially every problem solved independently (as innovation for competitive edge or for disruption in market) for one customer, for their function or vertical business. Up till now it remains a projectized customer specific solution.
Hereon solution provider do engineering, explore possibility of re-usability's of projectized solution for many similar customer's or functions and take a generic version to large number of user - now it become a PRODUCT. Sometime from governance standpoint organization bring such similar product versions under a "Product Line" and draw competitive advantages to improve bottom-line of business.
Further organizations diversify their product line - technologically or through service models or business models and take those solutions to large segments of enterprise/organizations. Such offerings make a product portfolio, actually Digital Transformation falling under similar categories.
Digital product portfolios are cutting across offerings - horizontally or vertically as PRODUCT solution. Innovation is a KEY for such delivery & disruption is a character to monetize.