Activity

  • In the Discovery and Innovation phase of the Product Life cycle phase, it is important to understand the customer. Analyze and research the customers needs, if there is something that could fulfill a void or be done easier and a customer would respond to this, a potential product could be developed. Additionally, it is also important to review the market and identify that interest in this respective area. If this niche market could potential grow, it creates a larger need. Additionally, you review the market for competitors and evaluate their products. If there is a reason to believe that the company can create a better product in this open market, it is important to do the research and provide that data/analysis for all facets before presenting this innovation to upper management.