Initial idea, compliance, approval, iterative development,
marketing and retirement - all have specific challenges
which Prodigy has been designed to address.
Early life: Generate & approve ideas, R&D, 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.
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 and issues around competitor growth
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