Initial idea, compliance, approval, iterative development,
marketing and retirement - they all have specific challenges
which Prodigy has been designed to address.
Early life: Idea, plan, approve ideas, R&D, Planning Approvals, Consumer Testing
ISSUES: With no money coming in and investment costs high, IP and compliance must be clearly understood, demand must be satisfied, sales kick-started and customers motivated.
SOLUTIONS: PRODIGY creates simple, transparent processes and workflows, linking product managers with finance, marketing and compliance teams and flagging up tasks and deadlines.
Growth: Build, launch, distribution, demand, competition
ISSUES: As the product enters the market, sales volumes increase alongside product awareness. As rival products begin to enter the market, competition grows, putting downward pressure on pricing.
SOLUTIONS: PRODIGY enables product managers to integrate market research into product monitoring and development.
Maturity: Manage wide availability, many competitors
ISSUES: Sales are at their highest, but so is competition. Extending the product lifecycle to grow or sustain market share and profitability depends on continuous iterative development and product differentiation.
SOLUTIONS: PRODIGY integrates detailed sales feedback information for product managers and iterative technical teams.
ISSUES: Falling buyer numbers bring falling sales and fewer competitors. The market starts to shrink, along with sales volumes and profits. CEOs and Senior Managers have important decisions to make. Maintain and upgrade? Harvest product for niche segment? Discontinue?
SOLUTIONS: PRODIGY provides a complete repository documenting the entire product history - with complete information to enable product managers to make informed decisions based on accurate and always up to date market information.
End of life: Retire the product
ISSUES: The decision to retire the product is made and teams must work together to plan the product’s exit in a way that retains strong customer relationships and safeguards and further strengthens the brand.
SOLUTIONS: PRODIGY contains all the information and data necessary to create a product exit plan and manage the mechanics of product retirement across all relevant teams.
See how your organisation could benefit from Prodigy