THE OPTIMAL PRODUCT WILL DELIVER LOWER COSTS AND THE BEST RETURN – 3 OBSERVATIONS It is all well and good to talk about the importance of focusing on the product, but what are the keys to offering the optimal product? It could be argued that the keys to offering an optimal product are numerous. I […]

THE OPTIMAL PRODUCT WILL DELIVER LOWER COSTS AND THE BEST RETURN – 3 OBSERVATIONS It is all well and good to talk about the importance of focusing on the product, but what are the keys to offering the optimal product? It could be argued that the keys to offering an optimal product are numerous. I would, however,  argue that three things are central. They are: Understanding Solving Embracing It is simply not possible, without a great deal of luck, to develop the optimal product that will maximise returns without an exceptional understanding of the market. Market research, consumer insights, and experimental data play a key role here. But what should that research focus on? I would argue that research needs to focus on identifying and solving problems. Problems are an opportunity for new products, and solutions are the best new products. Solutions that solve problems, better than any other, are…