PHASE 3: Business Model & Financials
Validate the profitability of your innovations.
Product planning often only focuses on how to develop a product’s features and functionality. While this is important, the strategy around why a product will be successful and how to take the product to market are even more critical for a product’s viability. A solid business model should include these along with pricing and cost assumptions. Having an accurate financial outlook for your products will provide clarity of your ROI and the path required to achieve it.
Rapid Diagnostic
1. Using data-driven models, your business models and financials are built for every new product and major release.
2. Using data-driven models, ROI of your new products and major releases are determined prior to building.
3. Business models and financials become a reality in the first year after your product is launched.
4. Market intelligence feedback is incorporated into business models.
5. Using a research-based approach, competitor price points and feature analysis are used to help validate your pricing assumptions.
6. Using a research-based approach, you know what customers value and it is weighed against the cost to build a product.
7. Using a research-based approach, early stage customer validation and a high-level willingness to pay study are used in your pricing assumptions.
8. You seek sales input to understand the pipeline potential and forecasting.
9. You seek marketing input to identify your ideal routes to market and maximize effectiveness of market penetration.
10. You seek marketing input to understand the potential campaign strategy and planning, the related costs, and the estimated return on marketing investment.
Deliverables
• Revenue and Cost Assumptions
• Product Level Business Model
• Product Specific Route to Market Planning
