New Product Development
Having a robust new product development plan in place can play a critical role in the sustainability and growth of a business. Indeed successful firms often establish a target that at least 10 percent of their annual revenue will come from new products in a given year.
At Management and Marketing Solutions, we will work with your team to generate new product revenue through a comprehensive program, which is aligned with the core competencies of your firm. Using our version of a New Product Prioritization Funnel, we will take you through the various stages associated with launching a new product. In the process, we will assist you in selecting those new product projects that have the best chance of success based on consumer insights and your firm’s capabilities. As part of this work, we will likewise provide assistance in finding ways to minimize your overall new product development costs, while shortening the time it takes to get an item ready for introduction.
Our work however does not stop there. At MMS, we realize that many times the reason new products fail is because of not having a fully integrated launch plan. From gaining shelf space, to designing programs that generate consumer trial and retail movement, MMS will work with you to ensure that your new product has the best chance of succeeding once it’s launched.