The following technical reports provide sultions for problems, occuring quite common in industrial companies.
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Services - successful through customer orientation and business model
80% of industrial companies believe they offer great services, but only 8% of customers agree.
The trend to offer smart services - apart from hardware products - has also reached traditional industrial companies. Unfortunately, many companies are trying to transfer the same business models and requirement processes that they have been using in the market for their hardware products linearly to the new service offerings. However, many service projects fail with this approach due to lack of customer interest or due to high costs and low returns.
The keys to a successful service offering are customer- and need-oriented processes (CX, UX), meaningful integration of modern technologies, as well as creative business models that are tailored to these services.
Weiterlesen: Service Design
Junior PM - challenged or overburdened?
Diversified tasks, extensive product responsibility and profit affecting results makes the job as a Product Manager quite attractive. But how will an ambitious Junior PM manage to quickly and efficient become acquainted with this challenging job? Beside the introduction into new products and markets, he has to train himself in PM methodology and the corresponding tools. Often processes and tools in Product management are even not installed or reduced to a minimum. Make things worse, resource shortage and time pressure in most of the companies disallow any support within the department by experienced PMs or by the superior. Quickly the interesting challenge as Product Manager can become either an overburden due to missing basics and know-how or can drift off into technical or logistical noble administration.
What should superior and Junior-PM commonly do, to avoid such a dilemma?
Weiterlesen: 8-Junior PM Coaching
Technical Documentation – Differenciation via useful online-service
For industrial Companies technical documentation raises several questions:
«In which areas of the pre- or aftersales phase can technical documentation offer a benefit to the customer? How can you differentiate yourself through useful documentation? What additional benefit can an up-to-date technical documentation offer? »
In the competitive market environment, many industrial companies for capital goods recognize that differentiation through the pure core product is becoming increasingly difficult. Performance differentiation nowadays takes place more and more due to the offered service package. In addition to service paid by the customer also supporting services in the form of up-to-date technical documentation ensure the success of established products in the market. The importance and benefits of the free of charge documentation services are underestimated in many companies.
Weiterlesen: 1-Tech Doc - Differentiation
How to fill the strategic gap?
Aspiring revenue targets for the coming years are nowadays easily set. But how to close the gap between the entrepreneurial vision and the actual organic sales progression? Key for success is a strategic planning, which is focused on few considerable cornerstones and a consequent, but market-oriented realization.
Visionary goals are necessary and important for a company’s development. To build a bridge between current status and desired target, the so-called GAP-Analysis is commonly used.
Weiterlesen: 3-Strategic Gap
Product Launch – Promotional Efficiency
When approx. 75% of product launches fail, what are the causes that even technically sophisticated products are not successful in the market?
How to achieve an efficient promotion at the product launch?
Handy message with tangible value proposition
Good market knowledge makes it possible to simply derive tangible arguments for product benefit. However, this must now be converted into a handy and striking advertising message in a language that is understandable to the target group. It is important that the entire life cycle during product usage is considered and that the arguments focus on the touch points of the respective target group within the customer journey.
Weiterlesen: 2-Product Launch - Promotional Efficiency
Technical Documentation - Lowcost approach vs safeguarding revenues?
Innovative companies must align their processes with the customer needs, develop new products in fast and efficient ways and use modern online promotion tools to cope with todays market needs. But how to tackle the promotion and technical documentation of existing products?
Many industrial companies focus their marketing activities and promotional tools on the new and innovative products. Marketing Managers struggling with lean resources and tight budgets usually ask the question: „Do we really have to update the technical documentation of established products and services? How much additional sales will the company gain with this measure?“
Established products often are considered as Cash Cows and the costs for promotion and the technical documentation will be cut to a minimum.
Can we act so carless and neglect the bred-and-butter business?
Weiterlesen: 9-Technical Documentation
Product Launch - Key Elements
Approximately 75% of the new product launches in the capital goods industry fail!
What are the causes that even technically sophisticated products are not successful in the market? What key elements should be considered at the time of market introduction?
Why product launches fail
Lack of research on actual customer needs or customer expectations (tasks, pains, gains) and inadequate market analysis (market segment / target group, structure, potential, price level, competition) are two of the main causes of failed launches and these errors are due to lack of care or insufficient focus already committed at an early stage of the innovation process.
Further causes are misjudgements in the development effort or the implementation in production. Furthermore, disproportionate marketing budget and poor timing are additional reasons for failure.
Weiterlesen: 0-Product launch - key elements
Innovation - involve customers in product development
Have you ever asked yourself what differentiate successful products from mediocre ones? Successful products are much quicker accepted in the market and convince by outstanding values.
As a starting point for a development of a new product or service it is crucial to understand the customer pains and needs in detail.
When the apparent customer requirements are clear, unfortunately the development teams in many companies leave the customer ground and go back in splendid isolation to develop their own product concepts which will directly end in prototypes or even in final products.
Is this approach of concept ideation really appropriate to maximize the market acceptance and value for the customer? Has market orientation herewith not already been left halfway?
Weiterlesen: 5-customer integration