Innovation Management Wisdom

Posts with the tag 'product development'

Company Innovates Next Generation of Hand Tools

Managers at a leading hand tool manufacturer wanted to innovate the company’s next generation of hand tools. Previous research pointed toward the existence of diverging needs among professional builders and DIYs.  

There was little agreement among managers in marketing, product development, manufacturing and finance about which segment the company should focus on or kinds of product improvements that would increase sales and profits. Whyze Group facilitated the team through a customer experience management audit. The team identified several critical gaps in their knowledge, which Whyze Group filled. 

Over the next six months, Whyze Group worked with managers to prioritize segments, develop ideas, refine prototypes and prepare for production and rollout.  We conducted customer interviews that identified innovative product features that built on buyers’ mental models about usability, durability and safety.  

Whyze Group helped the team find the optimal combination of new product features with a customer experience survey that included discrete choice analysis. While finding the most desirable product features was a goal, we also wanted to minimize cannibalization of our client’s existing products. Working closely with our client, we found a new product configuration that increased buyer preference for our client’s product portfolio by 22%.  

October 7th, 2008


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