(You and your firm have likely already been through the process of identifying market opportunities. This is by no means a trivial accomplishment and is usually the result of substantial effort, cleverness, creativity, vision and good market connections. Realistically, timing and luck are meaningful factors as well)
...Once identified, such an opportunity may justify the development of a product to suit a particular application or market need. Making the decision to engage in a successful development is an exciting milestone and can be the springboard for tremendous success.
It’s possible that your firm may possess all the skills needed to support product development in house. In that case, why look to TPS for product development?
- Preserve in-house bandwidth for current project initiatives
- Augment current in house talent with specialized contributors
- Run critical projects in parallel without needing to staff up / down
- Constrain and define timing and cost requirements for your projects
The TPS team has experience with all aspects of the product development process. We cover everything from assisting with product conception through design, prototyping, and full production.
In addition to product engineering, TPS brings product image development and marketing material development. While your product undergoes development so can your promotional materials. TPS views product and promotional development as a cohesive process.
In some instances, product development may not lead directly to volume production. It may be desirable to pursue design and prototypes to provide proof of concept or to pursue partnership or capitalization.
In today’s ultra-competitive technical product business landscape, time is not on your side. Part of the formula for success is getting your product ready for demonstration as quickly as possible while gearing up and staging for production. Stimulating market interest with prototypes and backfilling with ready product availability is an excellent methodology for staving off competition especially from aggressive, opportunistic “copycat” competitors.
Our approach to the design process and the product design itself is based on the following considerations:
- Market timing
- Prototype
- Production
- Product introduction timing
- Development budget
- Complexity of the design and the product
- Planned or anticipated volume levels
- Cost & sell targets
- Manufacturing resource facilities & capabilities
- Country of origin
It’s all about scale, cost and timing and we’re well versed in making an assessment about the most appropriate approach based on input from you.