300 raw ideas equal one commercial success! Of course not every idea will result in a successful product. The question is – “Do you have the time and resources to try 300 product ideas before finding the ONE for your business?”
Research also states that out of the 30,000+ products launched into the market every year, only about five percent happen to be successful. Reasons for product failure are manifold, including failure to correctly assess market conditions, incorrect pricing, unrealistic forecasts, targeting the wrong audience, and improper configuration of product benefits.
But, how can you overcome these issues, bridging the gap between product development and market success efficiently?
To begin with, brainstorming is an essential part of the product development process. You have to think from various angles to find the best-fit solution to user issues that can be turned into viable products.
Furthermore, increasing competition and customer expectations have brought enterprises under constant pressure to accelerate their product development and increase the pace of innovation.
Moreover, product quality and pricing are no longer the only determining factors for market success. A third ingredient – customer experience – has entered the mix. Therefore, developing a great product requires not only tech expertise but also a deep understanding of user behavior to design and launch contextual products while optimizing costs.
Challenges to Successful Product Design and Development
Designing new and innovative software is more challenging than ever before. Present-day customers are extremely discerning, and increasing competition only adds to the pressure. To stay competitive, even successful enterprises are having to re-evaluate and rehaul their processes and best practices to overcome these common product design and development challenges including:
- Finding effective methods to repurpose existing designs to reduce time to market.
- Localization or product personalization for commercial success.
- Maintaining high levels of product quality and support without increasing costs or time to market.
- Breaking down information silos for increased collaboration and effective version controlling for design work.
Another challenge faced by enterprises is the fast pace of digital transformation that is challenging the way products are engineered. There’s also increasing demand for popular software, calling for shorter development cycles vis-à-vis increasing business and regulatory complexities.
The solution lies in ‘optimizing engineering processes with increased visibility into real-time data’. It is imperative to marry business research with technical expertise to sieve commercially viable ideas and design them to customers’ satisfaction.
Cutting the story short, building complex software in modern times demands not only innovation and tech expertise but also a sound understanding of the business domain. The process does not end at development. There’s also a need to evolve the product consistently to optimize performance, keep it relevant, and improve overall quality.
To meet these multi-faceted product design and development requirements, enterprises are exploring product engineering services that optimize product design and development from end-to-end by using DevOps and Agile methodologies to improve performance and reduce time to market.
What Are Product Engineering Services?
Product engineering services include an amalgamation of emerging technologies and business data to develop and test commercially viable software or products. Simply put, product engineering services help you manage the entire lifecycle of product design and development following a pre-defined approach to create purposeful apps or software.
Some of the benefits of product engineering services include:
- Reduced time to market
- Optimized product costs
- Better product features with enhanced user experience
Enterprises can hire product engineering services to attend to several needs. Suppose you are a software development firm and identify a market gap that you wish to close with a new product. In this case, a product engineering firm can help you with market research to gather insights into customer needs and behavior. It will also help you test the feasibility of various product ideas to refine them further and identify those that offer the maximum commercial advantage.
You can also employ product engineering to modernize your legacy IT infrastructure for better productivity and employee satisfaction.
Need a product engineer? Our experienced product design engineers are ready to enter the process at any point during the product development cycle to go ahead your product. Contact us
Product Engineering Approach: 6 Key Phases
Whether you want to build a mobile app or enterprise software, using a collaborative and holistic product engineering approach for product designing and development will help you achieve your goals seamlessly.
The product engineering methodology comprises of six key phases as outlined below:
This is the first stage where ideas are conceived and scrutinized for commercial success. For example, a concept may seem exciting at first, like Google Glass, but may not always be worth pursuing.
Once an idea is validated at the first stage, the next step is to create a meaningful design for the product that’s aesthetic and meets customer expectations.
This is the execution phase, where the product engineering team will develop the solution according to the specifications finalized in the first two phases.
You mustn’t go to the market with a substandard product. That’s why testing a product is crucial to eliminate bugs and ensure it meets all user expectations. Some product engineers might use beta-testing or release the software to a limited number of people to test and fine-tune it before launching it commercially.
Once you are completely satisfied with the product, you can plan to launch it in the market. However, make sure that you take feedback from early users to introduce rapid improvements in new versions or updates.
Once your product is launched into the market, you must continue providing users with regular updates and enhancements to stay relevant and competitive. Furthermore, you might have to re-engineer a product as and when better technology becomes available. Simply put, you have to continue focusing on product design and development even after launch to continue meeting evolving customer demands.
WeblineGlobal: Leading Product Development And Engineering Services Provider
The product engineering services market has grown exponentially in the last few years. A core benefit of such services is low-cost technological leadership that leaves you free to focus on other aspects of your business. Such an approach also optimizes costs by building interoperability with third-party services and platforms and identifying new revenue streams due to higher collaboration between various teams.
At WeblineGlobal, we offer you holistic product development and engineering services focused on identifying market gaps in your niche and building solutions to resolve them. We work with you across the product lifecycle from inception to testing, employing DevOps and Agile methodologies to shorten the development life cycle and provide continuous delivery with high software quality. We also take pride in transparent client communications and timely deliveries, making us reliable partners to expedite your growth. Get in touch to discuss your requirement or to know more about our competitive product development and engineering services.