New Product Development

Successful innovations by means of comprehensive market analysis.

Due to the disruptive influence of current trends such as could computing on IT and tech markets, the related customer needs are changing at a hitherto unheard of speed. This inevitably leads to the fact that tech companies – whether start-ups or global players – are inadequately informed about current market requirements for potential innovations. Among other things, this also leads to suboptimal product differentiation and an incorrect assessment of the future potential. To reduce the flop rate of your innovations, we are happy to support you with our expertise for the following settings: high investment with low innovation frequency, high product complexity in B2B contexts, need for a solid data basis for go-/no-go decisions, insufficient knowledge at the beginning of the product development phase as well as a structure with highly interlinked customer needs.

With the Profiling Requirements Evaluation analysis approach, Homburg & Partner implements a practice-proven, three-phase framework, which delivers sustainable results for your success on the competitive market by means of an appropriate selection of countries and experts as well as the market-based identification of practical methods. These results are reflected in the market transparency both now and in the future, a deep understanding of relevant business opportunities and conditions, and a well-founded assessment of market attractiveness. We regularly carry out the three phases of the PRE analysis approach as follows:

Product Innovation Excellence Framework

To establish market transparency that is as complete as possible, we use the “5-C framework” to shed light on relevant market mechanisms and regulations, direct competition, different markets and decisive trends. Our results not only focus on the current market situation of your service, but equally on the future prerequisites for your portfolio’s success:

  • Customers: Preparing a “Customer Journey” based on an analysis of customer behavior and needs
  • Competitors: Creation of meaningful competitor profiles using strength and weakness analyses of your most important competitors
  • Channels: Prioritizing acquisitive and logistical distribution channels as well as suitable information channels based on an evaluation of suitability
  • Country specifics: Quantifying the market potential by analyzing country-specific, socio-economic and regulatory market environments
  • Company: Determining strengths and weaknesses as well as untapped potential based on a status quo analysis of your company

Depending on the respective market, there are both the most diverse possibilities and prerequisites for a technical product, which, in practice, regularly lead to fatal incorrect specifications at the time of market entry in the event of non-compliance. Using a market-based identification of pain points, we will offer you a first overview of customers’ willingness to pay, must-have, and outstanding features. We will also provide you with the requirements concerning your IT innovations tailored to your needs.

In a final step we compile the most important qualitative and quantitative overall results for your product positioning. By employing scientifically-based calculations of the market size and sales potential in the shape of a business case, we provide you with an extensive basis for your decision-making in best- and worst-case scenarios and thus giving your new product a lasting direction.

Our experts for Information Technology

Homburg & Partner possesses many years of experience using the PRE analysis approach to equip our customers’ product portfolio for all possible demands which can arise from complicated competition structures or from new opportunities such as Internet of Things Solutions.

Do you have questions or wish to discuss a topic? Then please contact our experts Dr. Michael Scholl and Dr. Michael Marquardt.

Managing Director & Partner

Dr. Michael Scholl

michael.scholl@homburg-partner.com
Tel.: +49 621 1582-0

Senior Manager

Dr. Michael Marquardt

michael.marquardt@homburg-partner.com
Tel.: +49 621 1582-148