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Product Innovation Strategy

Speeding up product innovation to fend off disruption for your business


Between rising customer expectations and unpredictable business environment it is an imperative for organisations to push for innovative products & services. Through our product innovation strategy services we help in ramping up organic growth to compete in new markets


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PRODUCT INNOVATION STRATEGY

Bending established industry norms & designing new products with customer centric approach

What are Product Innovation Strategy Services?

In a complex operating environment many organisations resort to new products & ideas to meet the changing market demands which transpires into an urgent need of sophisticated product management. Our product innovation services are amalgamated to act as a catalyst and objective arbiter of competing interests & perspectives involved in the product development process. This is done with an objective to facilitate "designing the right product" and "designing the products right". We therefore, engage in a product development process that must integrate input from sales, marketing, procurement and other functions to aid the design & engineering department. Our product innovation services help the companies avoid following common pit-falls:

  • Absence of well defined goals
    • Our product innovation services quickly identify the lack of well defined goals for organisations engaging in product innovation. This is so as without clarity on business objectives and consumer needs the product development process can be hindered and arbitrarily influenced by biased perspectives
  • Absence of internal focus on critical consumer insights
    • While incepting the product innovation, most companies have an absence of role that represents the voice of customer throughout the process from inception to completion. This leads to over engineering of products & innumerable costs overruns. We therefore, through our product innovation focus on consumer insights to avoid any cascading cost impact
  • Process breakdowns
    • When different stakeholders engage in a product development cycle with myopic and sequential way there are numerous handoffs that create knowledge gap. Thus, leading to blind spots. Our product innovation strategy services reduce the probability of such blind spots and in turn cut the unnecessary introduction of risks & inefficiencies
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Why Product Innovation Services leave a lasting impact in your business sustainability?

To edge out the competition and staying up to the challenges with changing dynamics of distinct markets and for different products, we at eninrac are committed to offer our clients the very factor required by carving out unique product innovation strategy. The product innovation strategies vary as per the features and the markets they are designed for which our practice consultants are apt with wide range of experience.

Our product innovation strategy services offer following value solutions

  • Product Introduction & Extension
    • The challenges which unfurl in front of the market players and are common to distinct geographies lies in the introduction of new product followed by extension of the product for a longer horizon. We at product innovation strategy division are focused to address such challenges with pre-defined TAT and enable client’s with lasting results.
  • Consumer Segmentation
    • The increased competition in today’s economic environment has compelled the client’s across the sectors to understand the consumer better. Our product innovation strategy services enables the client’s of all size of business whether big or small to determine consumer wise strategies for a shorter span of time to a long range plan.
  • Market Penetration
    • Growth is not only symbolized by venturing into a new geography but also by penetrating the market in a way that none of the competition has done so far. This difference margin creation rests as our growth strategy services unique value proposition for established as well as new market players.
  • Need Exploration
    • More than often client’s are unclear about their needs to rope in a product into the existing markets or into new horizons. We through our product innovation strategy services navigate client’s to be a rational path finder in terms of identification of righteous needs and their evaluation for long standing success in the business.
  • New Product Development
    • We support our clients by bringing the customer’s perspective for new product development through our unique ideation process through product innovation strategy services. Through ideation we assist client’s to assess the need for new product development and how to see its implementation.

How we build your organisation with modern product management capability?

If you are not familiar yet with our product innovation strategy services benefits, here's an overview:


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Orienting consumer centricity in end-to-end process

Through our product innovation strategy services we orient the most critical element of product development cycle i.e. instilling consumer centricity in end-to-end process

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Providing connective tissue and promoting higher level of collaboration

We partner with your organisation to fill both organic & inorganic gaps between inherent team functions & providing for connective tissues promoting a much higher level of collaboration

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Facilitating continuous pivot

Out product innovation strategy services clearly understand that breakthrough innovation is not a straight forward process. Therefore, companies bank on us to continually pivot & iterate to identify and pursue bigger opportunities

More market research, advisory & consulting services to discover

At Eninrac, we offer a wide range of market research, advisory & consulting solutions, from Business Intelligence to Benchmarking services. We put ‘search’ in research to help expand your business with ease. Discover all the possibilities now.

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Advisory & Consulting Services

Eninrac advisory & consulting services identify and qualify all opportunities offered by market discontinuities. Whether you are looking to maximize operational efficiency or invest in business growth, our experts can guide you through the process.

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Market Research Services

Market research is instrumental to determine opportunity for businesses. With Eninrac you get access to market information that is accurate & absolute in nature, processed from big data. Find the right market research service offering that matches your business.

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Transformation & Sustainability

For any successful transformation it is important to promote productive behaviour and skills which energise organisation's work force in a manner to achieve sustained results.

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Training & Pro-Bono Services

We support our pro-bono clients in exactly the same manner as we do for our standard clients offering full length and breadth of our services. Further, we don't only endeavour to train but provide an environment where people at businesses can learn, adapt, think & apply.

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Get in touch

For expert advice and tailored solutions to meet your needs, contact our Vice President.

For Research/Consulting

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Ravi Shekhar

Managing Director at Eninrac
rv@eninrac.com

For Business Enquiry

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Nitika Shrma

Vice President at Eninrac
nsharma@eninrac.com

Do you want to seek Eninrac assistance in helping you resolve some critical business issues? Engage with us and reach out to our experts by using the Request for Proposal (RFP) form.

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