{"id":8974,"date":"2022-03-15T05:10:23","date_gmt":"2022-03-15T05:10:23","guid":{"rendered":"https:\/\/staginggembah.wpengine.com\/blog\/new-product-development\/"},"modified":"2024-11-04T12:04:38","modified_gmt":"2024-11-04T18:04:38","slug":"new-product-development","status":"publish","type":"post","link":"https:\/\/gembah.com\/blog\/new-product-development\/","title":{"rendered":"New Product Development: Stand Out in a Crowded Market"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">It\u2019s an age-old question \u2014 How can your product company increase sales in an ever-changing and competitive market? For a while, you could just ride the wave created by new e-commerce platforms or the growing adoption of Amazon. Great marketing strategies and white-labeling popular products were proven ways to grow revenue and make your company more attractive to potential acquirers. Until everyone else started doing the same thing.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">One way to break away from the pack and to create significant value is to do something new. And that is why <\/span><a href=\"https:\/\/marketing-dictionary.org\/n\/new-product-development\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">new product development<\/span><\/a><span style=\"font-weight: 400;\"> (NPD) is something your company should consider as a way to differentiate itself and reap some significant advantages. Developing a new product concept that focuses on customer needs also takes advantage of all the pieces you already have in place. If you direct your development team to understand and optimize your new product ideas to maximize customer value, your final product will open up new markets and grow market share in your existing target market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The key word in new product development is &#8220;new.&#8221; Marketing something already on the market is not enough to stand out in the crowded world of <\/span><a data-wpil=\"url\" href=\"https:\/\/gembah.com\/blog\/amazon-listing-optimization\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Amazon listings<\/span><\/a><span style=\"font-weight: 400;\">, Shopify stores, or on retail shelves, it now requires more. In this article, we will explain some of the advantages of bringing a unique solution to the market, share the five steps we have learned that lead to successful new product development, and finish with some practical advice on execution.\u00a0<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_67_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/gembah.com\/blog\/new-product-development\/#The_Advantages_of_New_Product_Development\" title=\"The Advantages of New Product Development\">The Advantages of New Product Development<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/gembah.com\/blog\/new-product-development\/#Successful_New_Product_Development_in_Five_Steps\" title=\"Successful New Product Development in Five Steps\">Successful New Product Development in Five Steps<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/gembah.com\/blog\/new-product-development\/#1_Focus_on_Customers_and_What_They_Need\" title=\"1. Focus on Customers and What They Need\">1. Focus on Customers and What They Need<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/gembah.com\/blog\/new-product-development\/#2_Research_Your_Customers_the_Market_and_Your_Competitors\" title=\"2. Research Your Customers, the Market, and Your Competitors\">2. Research Your Customers, the Market, and Your Competitors<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/gembah.com\/blog\/new-product-development\/#3_Create_a_Design\" title=\"3. Create a Design\u00a0\">3. Create a Design\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/gembah.com\/blog\/new-product-development\/#4_Source_Your_Partners\" title=\"4. Source Your Partners\">4. Source Your Partners<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/gembah.com\/blog\/new-product-development\/#5_Manufacture_Your_New_Design\" title=\"5. Manufacture Your New Design\">5. Manufacture Your New Design<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/gembah.com\/blog\/new-product-development\/#Execution_Advice_for_New_Product_Development\" title=\"Execution Advice for New Product Development\">Execution Advice for New Product Development<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/gembah.com\/blog\/new-product-development\/#New_Product_Development_Is_a_Team_Sport\" title=\"New Product Development Is a Team Sport\">New Product Development Is a Team Sport<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"The_Advantages_of_New_Product_Development\"><\/span><span style=\"font-weight: 400;\">The Advantages of New Product Development<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Although there is additional time and cost associated with innovating a new product for the market, the benefits can be significant. To understand and maximize those advantages, you have to be clear about your company&#8217;s goals. Are you trying to boost profit, grow revenue, or increase your <\/span><a data-wpil=\"url\" href=\"https:\/\/gembah.com\/blog\/creating-value-with-proprietary-products-with-zack-leonard\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">company&#8217;s value for acquisition<\/span><\/a><span style=\"font-weight: 400;\">? In most cases, your goals will be some combination of all three, and new product development can improve each of them.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When done right, commercialization of a successful product with significant product innovation delivers on the following:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Creates a deep moat around your product that defends it against the competition<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Extends your potential revenue with existing customers, providing greater customer lifetime value<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Lowers overhead by consolidating operations and using your existing operations and <a href=\"\/services\/supply-chain\/\">supply chain<\/a> network.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Increases your total addressable market by designing a product that appeals to more customers.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Leverages your current marketing with minimal incremental cost<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Stands out in a crowded market, and especially on social media, with something unique<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Competes on value proposition and innovation instead of price<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Maximizes your profit over time<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Bringing an entirely new product to market or adding new features to upgrade an existing product moves your company from the world of &#8220;us too&#8221; to leadership in your industry. In the crowded world of e-commerce sales, you can try to stand out with better product listings, compelling social media campaigns, and competing on price. Or you can create your own space, your own market, with something new, different, and appealing to customers.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Successful_New_Product_Development_in_Five_Steps\"><\/span><span style=\"font-weight: 400;\">Successful New Product Development in Five Steps<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\"><img decoding=\"async\" class=\"aligncenter size-full wp-image-5466\" src=\"https:\/\/gembah.com\/wp-content\/uploads\/2022\/07\/new-product-concept-on-a-tablet.jpeg\" alt=\"New product development concept on a tablet\" width=\"700\" height=\"467\" \/>You can only realize these advantages if you understand what your customers are willing to pay for and build it into your design. Gembah&#8217;s team has developed a methodology around <\/span><a href=\"https:\/\/youtu.be\/Q8m57hj2rPY?t=1013\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">five steps for new product development<\/span><\/a><span style=\"font-weight: 400;\"> to <\/span><span style=\"font-weight: 400;\">discover the right product, design it, and get it made.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"1_Focus_on_Customers_and_What_They_Need\"><\/span><span style=\"font-weight: 400;\">1. Focus on Customers and What They Need<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Discipline yourself and your team to keep your focus on the customer, and, most importantly, find out who those potential customers are. Use business analysis to determine your target market and create accurate customer personas describing what is important to each type of potential buyer. If possible, try to talk to representative people from each target group and get first-hand knowledge on what they care about and what motivates them. At the end of this step, you should have a very clear idea of who your customers are.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Research_Your_Customers_the_Market_and_Your_Competitors\"><\/span><span style=\"font-weight: 400;\">2. Research Your Customers, the Market, and Your Competitors<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Once you have identified who you are selling to and, from a high-level perspective, what they are looking for, invest time in<\/span><a data-wpil=\"url\" href=\"https:\/\/gembah.com\/services\/research\/\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\">solid market research<\/span><\/a><span style=\"font-weight: 400;\">. Any decisions you make further in the process not backed by research are just guesses. There are two types of research you need to do: qualitative and quantitative.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Qualitative research looks at the aspects of your market and your customer that can&#8217;t be measured with numbers. A great place to start is to delve into how your customers are being served by the current product you or your competitors are offering. Move from there to identifying opportunities to provide greater value or to fill unmet needs.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And then, talk to your target customers. You can do this individually through short surveys, customer reviews, or monitoring social media. Or, you can work with experts who conduct interviews and surveys. This qualitative information will help you determine the direction and fundamental differentiation for your new product, specifications that you will solidify with quantitative research and then use to drive your design.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The quantitative side of product research is all about the numbers and the details of what the market wants and what your product needs to be. Take advantage of <\/span><a href=\"https:\/\/www.capterra.com\/market-research-software\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">available tools<\/span><\/a><span style=\"font-weight: 400;\"> to scan e-commerce websites and commercial databases to find out what is selling, and more importantly, what is not. Start with an <\/span><a href=\"https:\/\/sellercentral.amazon.com\/gp\/help\/external\/5NXWNY8HUD3VDCW\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Amazon Search Terms Report<\/span><\/a><span style=\"font-weight: 400;\"> (SFR) to see what people are looking for This is also where you find variations in existing products.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Likewise, it is where you need to start looking at the dollars. Gather data on costs and pricing that is already in your segment. Use real-world information to get a handle on what people are paying and how much they will pay for additional features.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the end of this step, you should have a well-documented picture of the market opportunity and what your product needs to do, along with ballpark figures for cost and price.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_Create_a_Design\"><\/span><span style=\"font-weight: 400;\">3. Create a Design\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\"><img decoding=\"async\" class=\"aligncenter size-full wp-image-5465\" src=\"https:\/\/gembah.com\/wp-content\/uploads\/2022\/07\/designer-sketching.jpeg\" alt=\"New product development: designer sketching new products\" width=\"700\" height=\"467\" \/>Once you\u2019ve set your focus and gathered and documented your research, it&#8217;s time to design. This is the creative part of new product development and where you take what you know about your customers and your market and build value into your design. The more complex and involved your new design is, the more expensive and time-consuming the development cycle. Use your research to ensure you can recover the cost and time required through increased sales or margins.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">One way to keep costs under control is to focus on incremental innovations to your existing products. Explore aesthetic changes like offering more color options, changing packaging, or updating your user interface. If your product involves some sort of case or enclosure, spending time with an industrial designer to do some brainstorming, ideation, and <\/span><a href=\"https:\/\/gembah.com\/blog\/product-design-sketches\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">sketching is a fantastic way<\/span><\/a><span style=\"font-weight: 400;\"> to improve a product&#8217;s look and feel and make something new for the market.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If your research uncovered enough potential to justify the cost, then your design process should focus on innovation. Use brainstorming and other forms of idea generation to assess the feasibility of new functionality added to an existing product line or a new product. Seek to discover unique, significant features that expand your target audience. Beyond new features, a viable product may also include new material options, or you may find new ways to combine existing features from two separate products in a new hybrid.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the end of this step, you should have the deliverables you need for manufacturing, your tech pack, CAD models, and a bill of materials.<\/span><\/p>\n<div class=\"banner\">\r\n    <div class=\"title\">\r\n        <span class=\"light\">Launch Your Product Faster<br> with<\/span>\r\n        <span class=\"bold\">Gembah<\/span>\r\n    <\/div>\r\n    <div class=\"subtitle\">\r\n        <span>1000\u2019s of vetted factories, designers, and experts are a few clicks away!<\/span>\r\n    <\/div>\r\n    <a href=\"\/expert-help\/\" target=\"_blank\" class=\"cta-button\">Get Started Now<\/a>\r\n<\/div>\r\n<style>\r\n    .banner {\r\n        background-color: #0692FB;\r\n        background-image: radial-gradient(rgba(255, 255, 255, 0.07) 1.6px, transparent 1px);\r\n        background-size: 7px 7px;\r\n        color: #ffffff;\r\n        padding: 30px;\r\n        text-align: center;\r\n        font-family: Arial, sans-serif;\r\n        border-radius: 12px;\r\n        max-width: 540px;\r\n        margin: 20px auto 40px;\r\n        box-shadow: 0px 8px 16px rgba(0, 0, 0, 0.2);\r\n        display: inline-block;\r\n    }\r\n\r\n    .banner .title {\r\n        font-family: 'Poppins', sans-serif;\r\n        font-size: 28px;\r\n        margin: 5px 20px 0;\r\n        text-shadow: 1px 1px 4px rgba(0, 0, 0, 0.2);\r\n        line-height: 1.2;\r\n        color:#ffffff!important;\r\n    }\r\n\r\n    .banner .title .light {\r\n        font-weight: 400;\r\n    }\r\n\r\n    .banner .title .bold {\r\n        font-weight: 900;\r\n    }\r\n\r\n    .banner .subtitle {\r\n        font-family: 'Jost', sans-serif;\r\n        font-size: 18px;\r\n        font-weight: 400;\r\n        line-height: 1.25;\r\n        margin: 14px 60px 20px;\r\n        text-shadow: 1px 1px 4px rgba(0, 0, 0, 0.2);\r\n        word-spacing: 0.8px;\r\n        color:#ffffff!important;\r\n    }\r\n\r\n    \/* More specific selector with !important overrides *\/\r\n    .banner a.cta-button {\r\n        background-color: #fdbc52 !important;\r\n        color: #1e1e1e !important;\r\n        font-family: 'Jost', sans-serif !important;\r\n        font-size: 20px !important;\r\n        font-weight: 900 !important;\r\n        padding: 9px 19px !important;\r\n        border-radius: 6px !important;\r\n        margin: 15px 0 10px !important;\r\n        cursor: pointer !important;\r\n        text-decoration: none !important;\r\n        display: inline-block !important;\r\n        transition: background-color 0.3s ease !important;\r\n        box-shadow: 0px 6px 12px rgba(0, 0, 0, 0.3) !important;\r\n    }\r\n\r\n    .banner a.cta-button:hover {\r\n        background-color: #e6a946 !important;\r\n    }\r\n\r\n    @media (max-width: 600px) {\r\n        .banner {\r\n            max-width: 90%;\r\n            margin: 20px auto;\r\n        }\r\n\r\n        .banner .title {\r\n            font-size: 20px;\r\n            margin: 0px 0;\r\n        }\r\n\r\n        .banner .subtitle {\r\n            font-size: 16px;\r\n            font-weight: 500;\r\n            margin: 20px 20px 0;\r\n            margin-bottom: 30px;\r\n        }\r\n\r\n        .banner a.cta-button {\r\n            font-size: 16px !important;\r\n            padding: 10px !important;\r\n            width: 100% !important;\r\n        }\r\n    }\r\n<\/style>\r\n\n<h3><span class=\"ez-toc-section\" id=\"4_Source_Your_Partners\"><\/span><span style=\"font-weight: 400;\">4. Source Your Partners<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Once you finish the initial steps in your design, it&#8217;s time to start sourcing your partners. Good new product development includes design for manufacturing, and the best way to implement that is to identify your manufacturing partners and involve them in the process.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Sourcing partners for new product development is significantly different from deciding to offer an existing product. You can&#8217;t just log in to Alibaba, pick three factories, and get quotes. Manufacturing a new product is a collaborative experience. And most importantly, you need to trust the factory or the agent you choose to work with.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here are some<\/span> <a data-wpil=\"url\" href=\"https:\/\/gembah.com\/blog\/how-sourcing-agents-take-advantage-of-entrepreneurs\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">suggestions developed by Gembah<\/span><\/a> <span style=\"font-weight: 400;\">after helping dozens of our clients find the right sourcing partners for their product launch:<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Visit the factory, or have your trusted representative visit on your behalf.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Start your search with a functional <a href=\"\/services\/product-design\/\">product design<\/a> backed by your product specification.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Know the key people in the organizations you may work with.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Let cultural norms shape your negotiations.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Think long-term, but keep your options open.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Pay your partners on time.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Take the time to conduct due diligence.<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">At the end of this step, you should have your manufacturing partners chosen, contracts in place, and their signoff that they can make your complete new product design.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"5_Manufacture_Your_New_Design\"><\/span><span style=\"font-weight: 400;\">5. Manufacture Your New Design<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The final step in new product development is to get your product made. There is a strong temptation at this point to sit back, take a break from product management, and wait for containers of your shiny new product to show up in a port. This is a huge mistake.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Now is the time for you to be super diligent and work hand in hand with your suppliers to not just make sure your product is made right but to partner on keeping costs down. Good product development is also about continuous improvement, so work with your design and manufacturing team to capture metrics and implement product and process improvements.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A good product development strategy in the early stages of manufacturing is to plan on an iteration or two of your product so you may validate the appeal of your product to your end-users. Your design team should work with your manufacturing partners to turn early feedback into design changes that enhance the value of your product to your target market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the end of this step, you should have your product delivered to wherever you will keep your inventory, and you can begin to focus on marketing and sales.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Execution_Advice_for_New_Product_Development\"><\/span><span style=\"font-weight: 400;\">Execution Advice for New Product Development<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\"><img decoding=\"async\" class=\"aligncenter size-full wp-image-5468\" src=\"https:\/\/gembah.com\/wp-content\/uploads\/2022\/07\/person-using-a-tablet-and-holding-a-credit-card.jpeg\" alt=\"Person using a tablet and holding a credit card\" width=\"700\" height=\"467\" \/>The new product development process is only as good as how well your product development team, including your external partners, executes that process. If we look back at the advantages of bringing a new product to market, you can quickly see how better execution enhances all of those advantages.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are many different proven new product development processes. One that works very well for &#8220;customer first&#8221; new product development efforts is<\/span><a data-wpil=\"url\" href=\"https:\/\/gembah.com\/blog\/what-is-lean-product-development\/\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\">lean product development<\/span><\/a><span style=\"font-weight: 400;\">. The approach focuses on reducing waste and increasing the efficient transfer of knowledge without stifling innovation. Lean product development delivers better product performance, faster time to market, and increased profit. And most importantly, delivering customer value is built into every aspect of this well-proven approach.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Another suggestion is to use<\/span><a data-wpil=\"url\" href=\"https:\/\/gembah.com\/blog\/industrial-design-vs-product-design\/\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\">industrial design<\/span><\/a><span style=\"font-weight: 400;\"> as the early stages of your NPD Process. Like lean product development, good industrial design is laser-focused on incorporating customer input into your design while also appealing to the emotional impact a product can have. Good design thinking, ideation, sketching, and prototyping can all drive towards greater sales and profits.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And finally, as is usual in all aspects of business, you need to focus on building the right team. This goes beyond your own internal team \u2014 it also includes consultants and companies you partner with. Bringing in experts is ideal because many aspects of new product development require special knowledge and skill, and only for a short period. This is why Gembah has built the world&#8217;s first <\/span><a href=\"https:\/\/marketplace.gembah.com\/packages\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">global marketplace<\/span><\/a><span style=\"font-weight: 400;\"> of industry-leading experts who can be plugged into your process and supplement or guide your existing team where and when needed.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"New_Product_Development_Is_a_Team_Sport\"><\/span><span style=\"font-weight: 400;\">New Product Development Is a Team Sport<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">When you decide that it&#8217;s time to break away from the pack, create greater opportunities, increase your profit, grow your revenue, and ultimately improve your company&#8217;s value to potential acquirers, Gembah is ready to be your innovation partner. <\/span><a data-wpil=\"url\" href=\"https:\/\/gembah.com\/contact\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Reach out to us<\/span><\/a><span style=\"font-weight: 400;\">, and let&#8217;s start the journey together.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s an age-old question \u2014 How can your product company increase sales in an ever-changing and competitive market? For a while, you could just ride the wave created by new e-commerce platforms or the growing adoption of Amazon. Great marketing strategies and white-labeling popular products were proven ways to grow revenue and make your company &#8230; <a title=\"New Product Development: Stand Out in a Crowded Market\" class=\"read-more\" href=\"https:\/\/gembah.com\/blog\/new-product-development\/\" aria-label=\"More on New Product Development: Stand Out in a Crowded Market\">Read more<\/a><\/p>\n","protected":false},"author":14,"featured_media":7609,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[4],"tags":[],"topics":[],"class_list":["post-8974","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.1 (Yoast SEO v23.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>New Product Development: Stand Out in a Crowded Market<\/title>\n<meta name=\"description\" content=\"New product development can put your company ahead of the competition. 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