Feature improvement is a necessary element of a product development initiative. Features are aspects of products that are important to customers, and can be as simple as color and as complex as a higher level of performance and reliability. For manufacturers to move ahead in their markets, product features must continually evolve to better serve customers’ needs. When done persistently over time, feature improvement can be a source of increased revenue and profit.
A starting point to assess product features is to compare a product to competitive offerings, noting important characteristics that differentiate between companies in the industry. This is best done in a workshop format, involving stakeholders from the design or engineering areas, and people familiar with the marketplace such as marketing and sales. The outcome of this activity is a feature improvement list and an implementation roadmap.
The roadmap becomes an element of management strategy, and is monitored over time using KPIs. Wilmarco Technologies has experience developing product roadmaps, including feature improvement, resulting in industry-leading products. Contact us to learn about how to start a feature improvement initiative for your product portfolio.