Is your product not quite performing in the market as you might expect? Would you like to see an increase in sales and market exposure or is it in improved margins where you see the ability to leverage your bottom line?
When it comes to developing a new product; whether it be to initiate a new brand or as an extension of an existing brand, the key lies in the ability of the design to be able to provide a clear and measureable positive point of differentiation within the market place.
At Bayly, whether it be a new or existing product line, we start this process by gaining an in-depth understanding of your brand, where it’s positioned or intended to be positioned in the market place and how it’s affected or will be affected by the competition in order to establish a clear and concise image of all of the external influences.
Once this has been defined we then identify the intended or proposed product positioning, outline its requirements and, in the event of a product replacement, assess to what extent the current product offering fulfills these requirements. In the case of NPD (new product development), we look at the current products within the segment, how these are positioned and where the opportunity for market share lies. Any relevant or positive attributes of the current design will be kept to maintain the sense of brand equity while defining the areas most in need of redevelopment.
As the product has direct contact with the end user and their experience and interaction with it has a direct relationship to performance in the market place, functionality plays a key role in determining the success of the product. By placing a high level of importance on the functionality of the product, we ensure the experience the user has instills a positive impression and reinforces the brand intention, insuring long term product success.