We are a New York-based human-centered design boutique studio that specializes in product development, design, and brand strategy of consumer goods in the health and wellness space.
Our multi-disciplinary team consists of strategists, digital marketers, ethnographers, user experience and interface designers. Our bread and butter is market and user research to identify white space market opportunities that solve for emotional and functional user needs. We distill the insights to design and develop hypotheses and test them for desirability, feasibility, and viability.
Contact us: email@example.com
Laura graduated with an M.S. in Engineering and Management focused on product management – integration of human-centered design, business, and engineering at MIT. She has a dual bachelors from NYU (B.A. Sociology) and Parsons School of Design (B.S. Strategic Design and Management). She has 7+ yrs of experience in ideation to launch of over 50 consumer goods. She has worked at Condé Nast, Top Shop, DKNY, Ro Health and in LATAM with Dinant and Quimicas Handal.
Fito is an Art Director specialized in animation, branding, design, photography, video, and digital marketing. He graduated from Parsons School of Design with a B.A. in Design and Technology and completed a MBA from Babson. He’s worked with companies ranging from startups to global leaders across various industries: mass media, entertainment, healthcare, public relations, telecom, food & beverages, and luxury brands like Roche Pharma, Wynwood Wallpapers, and so on.
Pati has an AAS in Fine Arts from School of Design Altos de Chavon and was awarded a full scholarship to complete her BFA in Communication Art at Parsons School of Design. She has participated on two Biennials and also on multiple residencies with institutions like MuseumsQuartier Vienna & Kovent Catalonia. She was awarded with a prize by the city of Cadiz for a cultural immersion. She has worked with clients such as Netflix, MCM, Donna Karan, Random House, etc.
The first stage of the New Product Development is the idea generation. Ideas come from everywhere, can be of any form, and can be numerous. This stage involves creating a large pool of ideas from various sources, which include –
- Internal sources – many companies give incentives to their employees to come up with workable ideas.
- SWOT analysis – Company may review its strength, weakness, opportunities and threats and come up with a good feasible idea.
- Market research – Companies constantly reviews the changing needs, wants, and trends in the market.
- Customers – Sometimes reviews and feedbacks from the customers or even their ideas can help companies generate new product ideas.
- Competition – Competitors SWOT analysis can help the company generate ideas.
Ideas can be many, but good ideas are few. This second step of new product development involves finding those good and feasible ideas and discarding those which aren’t. Many factors play a part here, these include –
- Company’s strength,
- Company’s weakness,
- Customer needs,
- Ongoing trends,
- Expected ROI,
- Affordability, etc.
Concept Development & Testing
The third step of the new product development includes concept development and testing. A concept is a detailed strategy or blueprint version of the idea. Basically, when an idea is developed in every aspect so as to make it presentable, it is called a concept.
- All the ideas that pass the screening stage are turned into concepts for testing purposes. You wouldn’t want to launch a product without its concept being tested.
- The concept is now brought to the target market. Some selected customers from the target group are chosen to test the concept. Information is provided to them to help them visualize the product. It is followed by questions from both sides. Business tries to know what the customer feels about the concept. Does the product fulfil the customer’s need or want? Will they buy it when it’s actually launched?
- Their feedback helps the business to develop the concept further.
Business Strategy Analysis & Development
The testing results help the business in coming up with the final concept to be developed into a product.
- Now that the business has a finalized concept, it’s time for it to analyze and decide the marketing, branding, and other business strategies that will be used. Estimated product profitability, marketing mix, and other product strategies are decided for the product.
- Other important analytics includes
- Competition of the product
- Costs involved
- Pricing strategies
- Break even point, etc.
Once all the strategies are approved, the product concept is transformed into an actual tangible product. This development stage of new product development results in building up of a prototype or a limited production model. All the branding and other strategies decided previously are tested and applied in this stage.
Unlike concept testing, the prototype is introduced for research and feedback in the test marketing phase. Customers feedback are taken and further changes, if required, are made to the product. This process is of utmost importance as it validates the whole concept and makes the company ready for the launch.
The product is ready, so should be the marketing strategies. The marketing mix is now put to use. The final decisions are to be made. Markets are decided for the product to launch in. This stage involves briefing different departments about the duties and targets. Every minor and major decision is made before the final introduction stage of the new product development.
This stage involves the final introduction of the product in the market. This stage is the initial stage of the actual product life cycle.