Product Development Plan
Developing new products or modifying existing products so they appear new, and offering those products to current or new markets is the definition of product development strategy. There is nothing simple about the process. It requires keen attention to competitors and customer needs now and in the future, the ability to finance prototypes and manufacturing processes, and a creative marketing and communications plan.
Most organisations spend their time putting out fires and pursuing projects aimed at catching up to their competitors. They have far too many projects going on at once and all too often seriously overcommit their development resources. They spend too much time dealing with short term pressures and not enough time on the strategic mission of product development. A more efficient and productive way would be to rationalise the product development portfolio along with developing and implementing a Product Development Plan.
The essential goal of a product plan should be to ensure that a product is built that delivers some business value to a specific set of customers in order to meet certain financial goals based upon a defined corporate strategy. Successive plans should increase that product’s effectiveness in doing so. A product plan describes the market opportunity, profiles the target customers, specifies product, pricing, identifies the financial goals, indicates the key priorities for development and enhancement, and provides a roadmap for delivery for at least the next four quarters.
Vyomus Consulting consists a team of consultants who provide national and international Drug / Product Development strategy and advice and help customers propel pharmaceuticals, biologics, medical devices / combination products over early stage hurdles, past key milestones, and on to first-cycle approvals.
From discovery to commercialization, we design, implement and provide solutions specifically tailored to your business challenges which ensures significant return on investment and reduces total cost of ownership. Integrating Science, Regulations and Measurable Business outcomes, combining local knowledge with global standards, our team moves beyond providing expert advise to get your project off the ground and moving at a fast pace.
Vyomus Consulting consists of experts in regulations, formulation development and testing, pharmacology/toxicology, pharmacokinetics, biostatistics, program management, and preclinical, clinical trial design and evaluation. Vyomus Consulting senior practitioners have a unique blend of business, domain, technology, pharma process expertise and include former senior executives from top Pharma, Biotechnology, Clinical Development companies, top tier Consulting firms, Fortune 500 enterprises, and leading Outsourcing service providers.
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