Strategy 2 Market
Strategy 2 Market - New Product Development Consulting and Training and the Product Risk Framework S A New Product Development System is just that: a system.
Our consulting assignments typically focus on improving the new product development system. Too often we see companies try to fix the new product development system by focusing on just the development process – the specific activities, inputs and outputs required to create a new product. Rarely does this work because of the interdependencies of the different elements in the new product development
04/25/2023
As a marketer, it is imperative to reduce any uncertainty customers may feel about buying your product. Customer uncertainty can take the form of needing more information, not having enough experience with your product, or not enough evidence to assure them that it will perform as desired. Customer uncertainty contributes to indecision on trying or purchasing your product. There are different avenues that a marketer can take in order to reduce this uncertainty…...
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04/05/2023
Why is it so hard to identify uncertainty and risk in new product development?...
How to Identify Uncertainties and Risks in Product Development Why is it so hard to identify uncertainty and risk in new product development?
03/28/2023
Uncertainty and Risk in Decision Making One of the defining characteristics of product development is making decisions and judgements, in the face of uncertainty. Exploratory Product Development (ExPD) is based on the premise of reducing risks and uncertainty. We’re defining uncertainty as having imperfect or limited knowledge about something, resulting in the potential for surprise or unpredictability in the future. You’ll notice that uncertainty can be caused by:...
Product Risk Framework item Category archive page for Product Risk Framework.
03/28/2023
Based on our National Science Foundation (NSF) STEM I-Corp research*, these are the top 12 product development risks companies identified (not in any particular order). Risks areas include: Disruptive new technologies on the horizon that could drive down demand or render the product obsolete. Launching a product in new countries; strict legal requirements making it difficult to conduct business, leverage intellectual property, or earn a profit....
Top 12 Product Development Risks Based on our National Science Foundation (NSF) STEM I-Corp research*, these are the top 12 product development risks companies identified (not in any particular order). Risks areas include: Disruptive new technologies on the horizon that could drive down demand or render the product obsolete...
08/17/2022
The Co-founders of Strategy 2 Market® and the Product Risk Framework™, Mary Drotar and Kathy Morrissey, have witnessed a plethora of product failures stemming from uncertainty and risk within numerous large and mid-cap companies during their 20+ years of consulting experience. Common themes include missed launch dates, missed sales goals, internal conflict, budget overruns, and wrong features released to the marketplace....
https://www.strategy2market.com/product-risk-framework-eradicates-product-risk-and-uncertainty/
Product Risk Framework Eradicates Product Risk and Uncertainty The Co-founders of Strategy 2 Market® and the Product Risk Framework™, Mary Drotar and Kathy Morrissey, have witnessed a plethora of product failures stemming from uncertainty and risk within numerous large and mid-cap companies during their 20+...
08/17/2022
A recent Harvard Business Review issue (May-June 2018), was devoted to the importance of creating a flexible organization. This is supported by the 2013 Comparative Performance Assessment Study conducted by the PDMA Research Foundation. The study states, “The use of formal, structured processes may have reached its potential, and companies are now testing the use of more flexible methods.” Formal structured processes in large companies decreased from 72 percent in 2004 to 55 percent in 2012 in favor of radical, more innovative, and incremental innovation....
https://www.strategy2market.com/?p=17152
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08/03/2022
It has finally happened; we published our book, “Learn & Adapt: ExPD an Adaptive Product Development Process for Rapid Innovation and Risk Reduction.” Here is a link to the first 41 pages of our 307-page book; if you want to continue with the book, you can purchase it via Amazon or Apple Books. A hard copy will be available soon....
https://www.strategy2market.com/top-10-reasons-to-read-our-book-on-product-development/
Top 10 Reasons to Read our Book on Product Development It has finally happened; we published our book, “Learn & Adapt: ExPD an Adaptive Product Development Process for Rapid Innovation and Risk Reduction.” Here is a link to the first 41 pages of our 307-page book; if you want to...
07/27/2022
An adaptable product development process that reduces risk and improves time-to-market....
https://www.strategy2market.com/exploratory-pd-book-to-be-published
Exploratory PD Book to Be Published August 2022 An adaptable product development process that reduces risk and improves time-to-market.
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Our Story
Strategy 2 Market (s2m) is a product development firm that specializes in helping mid to large-cap companies improve their product development processes. s2m also has extensive expertise in reducing uncertainty and risk in product development.
Our consulting leadership team designed an innovative process in getting products to market quickly, called Exploratory PD (ExPD). It is an adaptive approach that reduces product development uncertainties versus prescribed activities you find in a traditional process.
Based on ExPD, they expanded their business to include a business intelligence software tool, called the Product Risk Framework that helps product teams to identify, evaluate, prioritize and track the reduction of product development uncertainty and risk.
The Product Risk Framework is founded on Behavioral Economic principles that improve team decision-making and leads to product success. Mary Drotar and Kathy Morrissey received a grant for the Product Risk Framework from the NSF STEM I-Corp program sponsored by the University of Chicago.
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