Top 3 Factors to Produce Consumer Products as a High-Efficiency Business
Top 3 Factors to Produce Consumer Products as a High-Efficiency Business
1. High Performing Companies Have Comprehensive Design Validation Programs
1. High Performing Companies Have Comprehensive Design Validation Programs
Which company are you?
Company A: Companies with Comprehensive Design Validation Programs
Using design validation starts where you do, at the design stage. According to Engineering.com, “up to 80 percent of the cost of a product’s development is determined by the decisions made early in the design process”. This means that decisions made early on will significantly impact the cost of the product. The overall cost of development will also determine the end user cost. Keeping development costs down can ultimately increase margins while keeping prices competitive.
Company B: Companies without Comprehensive Design Validation Programs
2. Speed Up Your Go-To-Market Times
2. Speed Up Your Go-To-Market Times
Which company are you?
Company A: Efficient Go-to-Market times and Great Marketing Ability
Industry leaders don’t wait for physical prototypes and photography to start their product marketing cycle. They rely instead on computer models that render in photo-realistic quality. With technology available today, the quality of these renderings is so high that they’re indistinguishable from a live photograph. You’re now able to expedite your marketing and create the needed buzz to make the launch successful!
Company B: Inefficient Go-to-Market times and Poor Marketing Ability
Your product launch timeline is tight and your only options for marketing collateral are photography or CAD models. Photos are certainly common and definitely preferred over a CAD model. The problem is you’re stuck waiting for production to get you a physical prototype in order to generate that content. Without that content you can’t create visuals, advertisements, display materials, sales collateral…it goes on and on. Time is lost in this process and time lost means market-share lost. This is magnified when you’re already in a competitive space.
3. Speed Up Iterations While Lowering Prototype Costs overall by 5 Times
3. Speed Up your Iterations While Lowering Prototype Costs Overall by 5 Times
Which company are you?
Company A: High-Efficiency Businesses Utilize Rapid Prototyping
Engineering and Design offices with rapid prototyping are able to iterate and test ideas overnight. They are able to create prototype models that feel, look, and function just like the final product. Those who use these technologies see on average a 5 times overall cost reduction in creating prototypes. These companies allow their designers to iterate more frequently and bring products to market faster. Their prototypes precisely detail the designer’s intent to all members of the team and future investors.
Company B: Innefficient Businesses Make Prototypes by Hand
Engineering and Design offices without rapid prototyping primarily rely on skilled model makers to make prototypes or they’re outsourcing them entirely. In this development process, 79% of new products will miss their launch date. High-end prototypes will be expensive to manufacturer and product developers will be at the mercy of their suppliers’ lead times. These prototypes tend to lack realism and leave investors and team members assuming the designer’s intent.
That's It. These steps are the key factors that give manufacturers the advantage on their competition. If you answered "B" to any of these scenarios, or if you would like more insight on strategies of successful Consumer Product creators, then scroll down to read our free E-Book.
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