Accelerating the development of new products: the marketing standpoint

The inevitable need of acceleration of the processes in today’s tough, highly competitive world forces businesses to search for more savvy, dynamic ways to develop new products, e.g. through operational definition of unmet needs of the users, getting feedback from customers at the earliest stages of product development or the rapid development of new products on the market. Methods of development of new products, including the use of modern information technology and the Internet, are particularly well suited for the design of information and digital products, such as software. In this case, they are based on the several decisions, listed below.

Providing the flexibility of all the processes of product development and effective use of operational feedback from consumers.

As the digital products can be delivered directly via the Internet, the cost of producing multiple samples and variations are minimal. This approach allows us to provide consumers with the samples at an early stage and constantly maintain customer feedback. Another way to reduce the time of software development is division into modules. Modularity allows many operations in parallel, as individual development teams can act in this case independently from each other, without waiting for the results obtained by each of them.

Testing initiated at the early stages of production

Many companies involved in software development practice iterative release strategy: alpha, closed beta, beta versions of the products, the distribution channel for which is oftentimes the Internet. This method allows obtaining the necessary information from customers and quickly evaluating the proposed options. The first step in this process is placing the market of alpha-version. The purpose of the release of this version is getting the earliest stages of new ideas tested by customers to gather feedback and understand how the new ideas and methods function in the real world.

The next step is beta testing. At this point, the product or service offered on the wider market. His goal is different – to try and continue to improve the set of basic properties. At this stage, the key objectives are the reliability and compatibility of the future product. Beta testing is also a good form of advertising the new product and its testing of potential users. According to HTP, digital marketing Manchester agency concentrating its efforts on online marketing and digital presence management, a game app with in-game monetisation can be tuned to generate up to 52% more income (the aggregated statistics for a series of Android arcade games released in 2014).

Rapid introduction of new products

Yet another crucial factor defining the success of the product – the company’s ability to release it to the market at the right time in a timely fashion. The loss of time at this point may be even more dangerous than during the development phase. Presentations of the alpha or beta versions are effective means of accelerating the release of the product. In addition, the establishment of these versions of the end date of their use is a good incentive to purchase a commercial version of the product after a certain time.