Category: New product portfolio

Medical Product Strategy Wheelhouse™

Adjacent products and businesses are typically more successful, as they lever existing strengths and infrastructure. An adjacency framework for medical products incorporates clinical conditions, technologies, and customers. This framework also well defines product concepts.

Classical

Classical view of options for new products: old and new Products, for old and new Customers.

Evolved

Evolved view for medical products. A 3rd dimension is added, medical condition. Moreover, specific technologies are often the basis for each product. Customers are wide ranging, from MDs, to hospitals, to payors, and to consumers.

Quantitative and qualitative levers

Within each of the new dimensions, there are both quantitative and qualitative levers. These highlight the sources of competitive advantage and economic leverage. … Read More Medical Product Strategy Wheelhouse™

Winton Gibbons1 Comment

Approach to Product | Market “Triangulation”

Different approaches can be used to rank product concepts. Each method has tradeoffs. And each can miss the mark.

Using a variety can reveal robust product concepts.

In this context, to the left and right is a real example of 7 product ideas (diagnostic tests).

While in hind sight, A is almost not believably desired, the more interesting point is how the other concepts vary across studies.

Specifically, either B or E could have been chosen as a product, especially if A had development issues. But neither B nor E is robustly wanted. Instead C would be the best back up idea.… Read More Approach to Product | Market “Triangulation”

Winton Gibbons1 Comment