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Why do so many new products crash in the market? Product failure is estimated to be at 48% in the book, ‘Winning at New Products’, and other researchers typically put that number much higher. So, what makes these products tank? This happens for three reasons: failure to understand the consumer, poor product quality, and lack of internal capability. Witnessing countless developers failing to bring their products to market leads us to ask three questions:
1.Who are the consumers today and how do we characterize their reason for a better life?
2.How do great companies develop their product for success?
3.What does a fast-growing company need to do to stay healthy in the market?
It is imperative that product developers ask these three questions for a greater chance of product survival in markets that are inundated with competitor products.
After 20 years of product development experience, the author realized that there is always a right design process to develop a quality product, which is answered by the ‘EFD model’ ; Embrace, Focus, and Disrupt. The model will help you to work purposefully and save time in the process. This three-step process will also help you to maximize resources that you may already have to reach your business goals.
WILL IT WOW? is based on the Author’s hands-on experience in leading corporations and design consultancies. He wrote this book to share insights and motivations and to assist product managers, designers, engineers, marketers, start-up founders, and anyone who seeks to understand how products influence consumers and brands.
Chunshik Kim walks readers through:
•How embracing the consumer and identifying pain-points reveals opportunities in the market
•The impact of quality product experience.
•Where market trends go, and how to be the next technology disruptor.