Product Development

Bringing new products to the marketplace in a timely fashion is crucial to the success of a business. At the same time, developing new products is risky. Research has shown that from conception of 100 ideas, only 1 may result in a money making product.

 
Manage Risks

Successful Product Development is about managing risks. Based on years of experience, we have learned the all important lesson expressed in this phrase: always measure twice and cut once. In other words, ensure that market research is in close synchronism with the technical development efforts.

The biggest reason for failure is misreading the market expectations for the product being developed. Requirements of the marketplace are constantly changing. The technical objectives must be regularly reviewed in light of the latest marketing intelligence.

 
New Products

We assist you to manage your product development risk by working with you to:

  • Identify the 6 categories of New Products
      • New-to-the-world products
      • New product lines for the Company
      • Addition to existing product lines
      • Improvements to existing products
      • Product repositioning
      • Cost reductions
  • Analyze and understand the risk profiles of the different categories
  • Improve the quality of ideas; keeping in mind this adage: good ideas come from inspiration, perspiration and techniques
  • Formulate and/or improve your Product Development Process
  • Close the loop with Market Research
  • Tie in with your Technology and Intellectual Property Management Plan

 

Protect Intellectual Property

Intellectual Property (IP) protection is a key element of your Product Development Program. We will help you define cost-effective strategies for trademarking, copyrighting, patenting or preserving as trade secrets.

Licensing In and Licensing Out are also key elements of your Product Development Program. We will work with you to determine which options are best for your business.

 

 

Practice Leaders

George Yan

George is an integral part of the strategic planning and management teams of his Clients.
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Darrel McFeely

Darrell has over 35 years of experience with small and mid-market businesses as an owner, operator, lender and consultant..
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Roy Watson

Roy has diverse experience of over 30 years; from an assembly worker, to an engaged participant in the AREVA board of directors for Canada.
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