To stand out in the market, new products and services are expected to offer benefits that meet your customers’ needs.
At MALtech, our team is apt in discovering precisely what is expected from the dynamic market.
Our specialized research team conducts market research using smart techniques and also supervises detailed R & D through surveys and trend analysis.
We are then able to understand what the end user of your product expects from your product, your service, and your brand.
Who is your most important customer?
What will you offer to keep them loyal?
What path do you want to undertake to fulfil your mission?
How can you do it with your organization’s objectives, resources and strategy in consideration? These are few important things to keep in mind.
Generation of a Concept :
At this point your product is only an idea. Clients invest heavily hence understanding the purpose is required before conducting the research and development.
Brainstorm and Idea- refinement :
Now is the time our developers brainstorm and phase out one step at a time, when they are all on one page with the core team. The magic starts by creating the new product.
Defining the Concept :
Once the ideation is done we launch your product in paper before developing it using codes. The market potential, design output, technical feasibility must be considered and planned accordingly. This includes competition analysis, observing their strengths and weakness while creating products.
Ideation into Product Development :
Next is to create a prototype product or pilot service so as to track the position in the procedure timeline.
Assess marketing and concluding the ideation :
The product is now made based on client’s specifications. Once the product is ready, including each and every step of the operative functionalities, to fully utilize the product as expected, then the product must be delivered.
Product Launch (in process) : The thorniest stage.
Do set a launch date, pre determine the brand promotion and launch, determine how to sell, promote and support your product or service. Brining it LIVE first time is important.
After Support :
Once the new product is on the market, the competition is high. We would be more than happy to guide you for any technical glitch and support with the needful resolution immediately.
Creating a project team
Each and every product requires a dedicated development team.
The team must include people with a variety of skills,
- imaginative and creative person
- a technically proficient worker
- a marketing expert
- someone who can source elements
- someone to comprehend the supply-chain difficulties
All team members must be on the same page and fulfil the objectives committed to the client.
Evolving your ideas
We find a lot of risk factors when developing a new product
To curtail or diminish such risks ,the following factors are considered:
⦁ Is your product good enough to meet customers’ specifications? E.g. design, ease of use and performance benefits.
⦁ How feasible is your product? Will it fit the design, resource and manufacturing requirements?
⦁ What are the post-product launch goals? How does it favour the business’ vision and meet the strategy outline of your business?