What is product development?
Product development is the development of a new technology solution or the evolution of an existing technology solution that offers new or additional benefits and value to new or existing customers.
Often these products are a core strategic, competitive and money generating element for the business and it is thus critical to ensure the product is sustainable or can be successfully evolved with the business overtime.
Technical product development strategy
Just as we need a business strategy and vision, when it comes to product development, we also need a strategy and vision for the technical solution and architecture of the product. The technical soundness of a product is important to sustain the business into the future. You can decide if you use us to define the strategy for you or if we review the strategy defined by your team or work jointly on defining it. What is also important is setting up metrics to monitor the implementation of such a strategy. This is hardly ever implemented in any businesses we work with. We want to evaluate our return on investment.
When embarking on product development there are a few key factors need to be considered or questions answered. We will unpack this with you.
If you are starting a new product, it is important to choose the right tech stack. We often work with entrepreneurs where a huge investment has been made into writing a close to complete MVP, but the technology selected is really not ideal (for many reasons).
Stages of product development
There are various stages involved within our product development framework. The focus is on business model definition, marketing, sales as well as implementation of the product.
The following stages covering product idea and strategy, customer requirements, technical development, go-live, product launch and rollout forms part of the Infoware Studios product development service.