Product Development & Product Management Analytics
Innovation is the lifeblood of every organization. Supercharge it with Product Management Analytics
Aurora GPS helps organizations of all types maximize their chances of success innovating new products and services with Product Management Analytics techniques. The ability to out-think, out-plan and out-execute your competitors is a critical source of sustainable competitive advantage. Aurora GPS can assist you at any stage of the product lifecycle, from ideation and R&D, through product development, and into iterative improvements post release. The speed of innovation is increasing and the barriers to new entrants is dropping. All organizations need to prepare themselves to act both smarter and faster.
- Focus R&D resources on those product and service ideas most likely to meet growing market needs
- Discover the key factors of competitive differentiation and learn how to refine your product development to exploit those features
- Maximize return on investment through incremental innovation throughout your product or service lifecycle
Business Outcomes You Can Expect from Product Management Analytics
- Higher success rate of new product introduction
- Shorter product development cycles
- Faster product adoption
- Increased market share
- Increased profitability and less price sensitivity
- Longer time in-field during the most profitable part of the product lifecycle
Product Management Analytics Mission Portfolio: Toy Manufacturer Not Playing Around with Augmented Reality
A toy manufacturer approached Aurora GPS for help understanding the opportunity to incorporate augmented reality into its line of dolls. Other manufacturers had experimented with advanced electronics and augmented reality, but none had captured significant market share.
Aurora GPS explored the barriers to adoption with augmented reality (AR), learning that consumer awareness of AR meant that only a small portion of the buying market was ready to adopt the technology. That small part of the market overlapped poorly with the doll market, meaning that it was little surprise that manufacturers had yet to see success. However, as awareness increases, AR will quickly become an expectation in the category – likely in 18-24 months.
Because the company’s product development timeline required 12-18 months to launch a new product, it quickly started work on its AR offering. This information allowed it to meet the market just as it was beginning to accelerate.
Three ways to engage with Aurora GPS for Product Management Analytics services:
Engagement Level 1: Single Product Opportunity Analysis
Approximate timeline: 30 days
Engagement Level 2: Product Portfolio Review
Approximate timeline: 8-12 weeks
Engagement Level 3: Product Lifecycle Monitoring
Approximate timeline: Ongoing