Product developer: What did I do?
As product developers, we went through the following phases when creating a product.
Customer concerns were gathered by evaluating prospective remedies and then deciding the sort of product that needs to be manufactured. We developed a priority list for the geographic regions in which we aim to operate. This was done through collaboration among team members.
Market research was undertaken and the business case for the company’s profitability throughout this time was assessed. Consumer interviews were conducted to see if this is perceived as an issue. We produced a strategy outlining what we believe we can accomplish, the timeframe required, and when certain features should be ready if we proceed.
Schedules for completion of development were determined at this phase, as were the features that would be included in the final product.
The user stories and specifications were produced and then met with developers to discuss estimates for extremely precise specifics regarding the length of time required to build this particular product.
When we began development and stated the criteria, they stayed consistent until the early components of the completed product dubbed the Minimum Viable Product was validated (MVP).
This phase is used to get early user input on the product and to validate basic assumptions about the product’s concept. We do not wait till everything is finished before we begin user testing. As a result, we employ procedures for determining the product’s quality.
This is because these items are still in their infancy, and they want to ensure they are headed in the correct path before they are introduced.
We collaborated with the marketing team, the legal team, the public relations team, and the sales team to position the product for a public debate. Then we really distribute it to the general population to gauge their reaction.
Phase-6:Steady-state or Continue iterating on it:
During this time, we collect data on how people are interacting with it. How frequently are people purchasing it? We do product analysis and optimize our metrics. We strive to maximize the return on our investment.
Additionally, the marketing team will continue to advertise it and salespeople will continue to sell it during this time. We evaluate our continuous efforts here to determine how probable it is that we will continue with this.
Final Phase: maintain or kill the product:
At this moment, we determine, utilizing all of the data we’ve obtained thus far, most notably from the previous phase, how frequently individuals purchase this. Are we still competitive with this product? And, maybe more crucially, we consider how much money is spent on its maintenance.
To determine whether it is self-sustaining. How is our return on investment? If it isn’t doing well, we may opt to kill it and move on to something else.