Product Management and Target Costing
Innovation only makes sense if it means that customers are excited and the innovating firm's profitability and its business value is increasing. Innovations ensure that a company can influence and dominate markets. You can innovate with new business models, new products, services and customer solutions, such as break-through applications or new process landscapes. Innovative companies, who manage to transform new ideas into business success, act according to the following principles:
- "What is the customer willing to pay for a product or a service?"
- "How much is the customer willing to pay for each product variant?"
- "The target profit is a sacred, inviolable cow." and
- "Customer enthusiasm can only be achieved interdesciplinary. "
Market analysis and product marketing are equally important as the product development. The decisive factor is a well-considered balance between "technology push" and "market pull". The innovation and product development process from idea to value ® as applied by Seidenschwarz & Comp. ensures that companies are not chased by the market and do not drift into overengineering.