Launching a Product - What are the essential elements of successful product development?

Hello, my name is Ian Peterman. I'm CEO and founder of Peterman Design Firm, and today I want to talk about the essential elements of successful product development. There's a few key areas that are absolutely needed in any product development process in order to give you the highest chance of success for that product. Obviously, guaranteed success is not really something we can, we can offer, but each of these elements need to be brought together in order to have even a good shot at a successful product development project. So I'm going to talk about 4 key areas: research, design, design for manufacturing and prototyping, and production. First of these areas, research. We're going to talk about market, user, and customer. So you want to do your research up front. You want to Do market research. You want to understand the market. You want to understand competitors. You want to understand what interest— is there an interest in the product that you're trying to offer? Does the market— does your target market have a problem that you're solving? Is it a known problem? Is it, you know, something where Everybody knows there's a problem, there are some okay fixes, but you're trying to really create a solution that absolutely takes care of the problem and solves problem for, for people. You know, what does that market look like? What is the cost? What is the typical price for a product in there? You know, that could give you an idea of what can you charge that's reasonable for people that are already in that market. You know, there's a $1,000 product typical, or people— is that the typical price? Is that a price point that nobody balks at, everybody's pretty used to? Or is it $5? Or, you know, larger, is it $100,000? Is it $1 million? You know, depending on what your product is. So figuring out the market and what the market looks like cost-wise and interest-wise is really important. Next, you want to research users. So this, if you're an inventor, you're barely startup, you know, this is something you talk to your friends, get your— get input from people who might use it. So, and it ranges from, you know, asking your friends to running full user studies, doing polling, and there's a whole bunch. You can get into very professional, very lengthy, very expensive research. In terms of user and what they're looking for, what are their problems, what are their thoughts on a specific product idea. So you can, you can keep it general to where you're just trying to figure out what the user is looking for, what the user cares about in a product like this, all the way over to taking your idea, going to the user or potential user group and saying, here's our product idea, what do you think? You can give feedback in different ways, all centered around the user. Now, I break off customer as separate from user because your customer may not be the user. A great example of this is most baby products. Baby products, while the user is the baby typically, right, they're at least a partial user, babies don't really walk into stores and buy stuff. So your customer is the parent, and that's why products are designed, and especially baby products, they're— it's notorious for their design, really just designed for the parents, and it happens to be for a baby. It's all— all the marketing is around the parents or what people believe the parents want for their kid. And so those are 2 totally different people. Your diapers are sized and designed to work with a baby, but the packaging on it is designed to attract an adult who is purchasing those diapers. So you want to look at, is my user and my customer even the same thing? And that's the case. The other case that's really important for that too, and can be, is that you may be designing the product to— and you don't want to sell direct at all. You actually want to use a method where you use distributors, so your customer isn't even going to be the end user. You're not even going to interact with them. You want to sell, you know, your customer you're selling to is Walmart or any other big store, or you're basically, you're looking at those dealer model where you're not selling the product to the end consumer or the end user. You're selling it to somebody else and they're going to then sell it to the end user. So being aware of who your customer is and making sure that you know whether it's a user or not is really important, and it will guide your research and how you do that research to figure out those elements. Because one of those, you know, user will impact the design of the product typically a lot more than the customer if the customer is different. Customer will care more about packaging and how it's being sold to them and what the features are, and to some level, but they may not care about the ergonomics as much personally because they're not going to be holding the device. So research, want to make sure you cover market, user, and customer, and if you do those 3 areas, your research will be pretty solid. There's of course many other areas you can put research into. There's technical and a lot of other areas, but those core elements are ubiquitous to any product that is developed. Next, I want to talk about design. So I'm going to break design into 3 areas: industrial and mechanical, electrical, and systems design. Now, the first part, industrial and mechanical, this is where industrial designers and mechanical Engineers work is really designing the physical body of the product. So this is, you know, in terms of what electrical looks at as the enclosure, it is what you actually typically interact with and interface with. It's how you use the product. It's what people see. You know, it's all, it's all the hard components that most people think of when they look at a product and see it. That's What they're looking at. So this is why industrial design is typically really involved in this, is because look and feel, textural, the touch, the interaction is all in there. And, you know, mechanically, we need to make sure that it's structurally sound, that it can actually do what it's supposed to do. So researching, you know, you'll do all that research before and you'll understand what the user is looking for, and then industrial design, mechanical engineers, they will make sure that it actually matches what the user is wanting for ergonomics or feature use, things like that. And then next is electrical, and I put this on its own because it is an entire ecosystem on its own. It has obviously the circuit boards and circuitry and physical componentry, but there is also the software and firmware And even cloud work that needs to go in in order to create, say, a very connected device where it has GPS and it connects and you can have an app, right? There's a lot that goes into electrical and it is its own section in the design process. Of course, mechanical and electrical, they always should be talking to each other, but your electrical is going to be a A different team typically. Even if you work with a firm, they're going to have a separate internal team that is electrical because it is specialized. And while it interfaces with mechanical, there's a lot that goes into the electrical side of things to make sure your product works. The third area is system, and this is where really the high level of making sure that electrical and mechanical all integrate well And that, you know, user interface, if you're heavy into software and things like that, everything comes together in a cohesive working package that allows the customer to have the right experience. So systems design is a lot about creating the user experience. It's about making sure everything works together. And if you don't have Somebody paying attention to that, then you can end up with, you know, mechanical, electrical not talking enough and maybe forgetting about some software thing over here that may impact the physical design because of software limitations or, or costing and things like that. And so you want to have system integration between all the components and everything that's working together in order to make sure you have that cohesive customer experience that you're wanting to aim for. Next section is design for manufacturing and prototyping. And I loop the— you know, there's the word designing here, but that is because it's very specific to— you will go through the last step of design and you will get it to a certain point, and then you'll need to hand off to actually start prototyping. And so once you start prototyping, then you start having people involved that are really focused on how do we make sure this design— because while you design the prototype and you start prototyping and you know that it works, the base technology, but you got to make sure that it is ready for manufacturing and that those considerations are starting, at least at this point, must be put in in order to make sure that we can move on to the next step and actually produce it. So design for manufacturing is a broad, broad area. It covers everything from mechanical to electrical and every other component, and it really is just looking at, okay, well, we've made this prototype, it works, it does everything we want to prototype, and was able to put everything together in a package that worked, but how is that going to be manufactured en masse? And so Design for manufacturing can be a brief process, especially if it's something that's built a little more by hand or short run where you're not looking at mass production in terms of like thousands and millions of units a year. But you still want to do some because there's some optimization, a lot of cost optimization. Your prototype is obviously going to be really expensive compared to production. Typically, because it's custom, you're making one part at a time, you're making tweaks and changes to it as you build the system, and you want to be able to translate that well into production. So even making a run of 100 is going to be different than making a prototype. And so there's optimization in terms of cost, in terms of ease of manufacturing, even weight limits and things like that to make sure that it's shippable. And you're not wasting money shipping a bunch of stuff that you don't need to, and looking at replacing, you know, components with off-the-shelf parts in order to reduce costs and timeline as well. So that is really just an optimization point where you— okay, we have a prototype, it's great, we know it works, let's optimize. The last part is production. So You've gone through the last steps, these core steps. We've touched on, you know, design for manufacturing. So now we're ready for production. Once you actually go into production, there can be changes. So you want to make sure that production is running, and supply chain is a huge part of this, making sure that you have a solid supply chain, making sure you have backup suppliers in case, you know, one goes out of business or one gets over— overbusy with, with other projects and clients and isn't able to run as large of a run as you need to. So you want to make sure that your supply chain is in place and production is in place and ready to work with your orders and hopefully be able to fulfill everything that you are getting in terms of orders and shipping. The core areas Are research, design, design for manufacturing, prototyping, and production. And those, those essential elements are in every successful product development project. If you skip one, you're kind of shooting yourself in the foot. It's not a good idea to skip any of those areas. And of course, more complicated projects is going to have A lot more in the minutiae. There's going to be a lot more specific things. This is just a high level of the essential elements for successful product development.

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Thank you.