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New Product Development Consulting

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Written by Administrator
Thursday, 06 March 2014 08:17

Changing market dynamics, competitive action and cost dynamics -- among other things -- not only alter the economic attractiveness of existing products but also expose untapped opportunities for new product concepts.

We offer our clients unique expertise in all the stages of the product development life-cycle. We work with clients to improve and leverage their strengths to retool product and service portfolios, identify and capitalize on new market opportunities, reduce development time and costs, and create products that drive long-term growth and profitability.

Example of our work

A glimpse of our recent engagement:

Client

A start up company in USA wanted to come out with an improvised medical device used in radiological drainage procedures by identifying the unmet needs.

Research Objectives

  • To identify the unmet needs in a specific medical device used in the interventional radiology drainage procedures
  • Test the uniqueness of the client innovation with the patent analysis
  • Develop prototype with the support from Dolcera partner
  • Test the concept in the market

Research Methodology

  • Defined the scope of the project
  • Understood the challenges faced by surgeons through literature study
  • Developed hypothesis for the research
  • Conducted in-depth interviews with  the following surgeon specialties to identify the unmet needs: Interventional radiologist, Urologist and Nephrologist
  • Conducted interviews with industry experts to assess the market potential
  • Analyzed competitor products through patent-to-product mapping
  • Checked for the uniqueness of the client innovation through patent research
  • Developed prototype with the idea from the client
  • Obtained the feedback from the surgeons by taking the prototype to them
Key Insights
  • 4 unique unmet needs were identified
  • The market potential and market size
Outcome
  • Dolcera developed and tested the prototype for the client
  • The client is exploring opportunities to patent the technology
  • The client is expecting to generate revenues in the range of $80-$90 million over the next five years.
Last Updated ( Monday, 18 August 2014 17:44 )