Bold Ideas for Breakthrough Products
GEN3 works with clients to accelerate product innovation efforts – whether the transformation of an existing product or the development of an entirely new product platform.
By combining the power of GEN3's proprietary innovation methodology with the resources of GEN3's Global Knowledge Network of subject matter experts, we bring an unmatched capability for creating breakthrough product ideas. Further, by deploying the technical development resources of GEN3's Technical Innovation Center in St. Petersburg, Russia, we work with clients to move ideas from concept to prototype quickly.
Tackling Tough Issues
At the heart of every product innovation assignment lie tough technical challenges that must be solved. We use Main Parameters of Value (MPV's) as a guide to ensure that all technical innovation work is focused on what matters most to customers and allows a clean line of sight to the market. During the product innovation process, we supplement Voice of the Customer (VOC) data by deploying a proprietary tool (Voice of the Product) to uncover previously unknown and unmet market needs.
Because all product innovation must be focused on yielding competitive advantage, GEN3's technical work begins with a clear understanding of the strategic business context that is driving the need for change.
We work with clients to address a range of strategic issues in the area of product innovation, including:
- Emerging Markets: How can we adapt our products (or develop new ones) to capture share in undeveloped and emerging markets around the world?
- Disruptive Innovation: How can we disrupt our own market ahead of the competition? What are the next generation products and technology platforms that could enable this market disruption?
- Sustainability: How can we design new generations of products that will appeal to our customers and meet company sustainability objectives, without relying on price premiums or sacrificing margins?
- Cost Reduction: For products threatened by lower priced competitors and new market entrants, how can we reduce costs to preserve or improve product margins?
- Changing Market Requirements: How can we transform our mainline products to adapt to changing market requirements driven by macro-economic trends such as evolving consumer habits, impact of social media, an aging demographic, changes in regulatory constraints, etc?
Defining a future product platform or a changing product portfolio will, in many cases, also imply the need for manufacturing process innovation.
To learn more about GEN3's Product Innovation capabilities contact us.