The frequently heard phrase in any new product pitch – It is a $B market, and we will capture it with the new product. New products invariably chase growing markets.
What we seldom do not understand is that a growing market in its current state undergoes several twists and turns before hitting the desired valuation. Every turn causes a shift in market trends, customers' needs and their behaviors demanding new outcomes. The new product should identify the shift as they happen, accommodate evolving needs and deliver new outcomes. Nevertheless, the development methodologies that we follow – MVP, Agile, and Design Thinking, etc. identifies today's need and opportunities lies therein. While needs and outcomes are becoming moving targets, we need methodologies that can provide visibility into the future. So we can design our products to readily embrace evolving needs and continually deliver new outcomes as the shift occurs in the market.
This eBook emphasizes how to build products for the future. I did make a humble attempt in drafting frameworks to identify the evolving needs and outcomes by comprehending what the demand drivers of the need are, what technologies are likely to emerge, how both of them could coalesce creating new shifts in the market.
What does this eBook provide
This eBook has structured actionable plans across various phases of product development for successfully building great products that are:
- Built on a foundation of strong product vision that defines the purpose and objective of the new product.
- Built not just for today's needs but also for tomorrow's needs and in alignment with emerging technologies, market trends, and changing customer needs and their behaviors.
- Built to address the real needs of real customers and as desired by those real customers.
- Built with all essential attributes that will drive customer preferences towards the new product.
- Built through meticulous planning, impeccable execution, persistent attention to details, and zero-tolerance to mediocrity.
The eBook is now accompanied by ‘Product ROI excel sheet’ that simplifies measuring ROI of the new product and building a financial summary.
Please be aware that the book is still WIP (Work In Progress), I am still contemplating to create better frameworks. The efforts are eluding me for a long time, hope I will be lucky soon. Meanwhile, if you have any suggestions or recommendations, please do not hesitate to reach me at murali[dot]erraguntala[at]gmail[dot]com
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