Getting the Nest Ready for the Eggs—Making Sure the Product Is the “Right” One
By “basics” I am referring to generally accepted good business practices the questionnaire addressed, such as knowing about costs and margins, having and using information about customers, gaining insights into markets, and about competitors. Most SMMs do not have sufficient insight into these areas and it is this lack of good information that is fundamentally problematic for SMMs in their pursuit of growth strategies—not their technical processes—particularly regarding new product development.
To improve the chances for success there are three areas that should be looked at early in SMMs’ development of new products—“to get the nest ready for the eggs.”
• The type ...