Overview
Establishing an innovation program and framework is a best practice that helps companies not only identify promising ideas but take them from a basic concept to true realized value. This value comes in the form of increased top-line growth as well as bottom-line profits. But perhaps more importantly, new product innovations can help your company retain existing customers as well as attract new ones, grow your market share in existing markets and diversify to realize new opportunities, and differentiate your company so that you outperform your rivals and secure an impenetrable position in your customer’s value chain.
Tools for Success
- Innovation Program Development – Catalyst Connection will work with your team to evaluate your current innovation process and gain a better understanding of the strengths and weaknesses of past product development efforts. Your team will receive training and learn the fundamentals and best practices related to stage-gate and agile product development processes. Through a series of training and exercises, Catalyst will help your company develop an Innovation Program which includes required decisions, deliverables, and responsibilities for each product development phase. As part of this development process, Catalyst will provide on-going coaching to your development teams and/or gate committees.
- Commercialization Strategy – When it comes to successfully commercializing a new product, technology or service, change is the rule, not the exception. Nothing is static. This can be challenging for start-ups as well as established companies. Catalyst’s consultants will help your team understand the intangible qualitative aspects of a successful launch. We will help you clearly define your target customers and develop your launch plan, positioning and messaging statements for your product. We’ll help you define your pre-launch, launch, and post-launch activities. This includes helping you develop and execute basic block and tackle marketing and launch activities, such as creating marketing and sales tools and building customer and partner support infrastructure to effectively sell your product. But perhaps most importantly, Catalyst can help you with post-launch sustaining marketing which is key to the long-term success of your new product.