So in conclusion, we have seen new product development evolve from the 1980s, where products were driven by the engineering organization, to an era where products are designed at the intersection of technology and customer need. However, many companies are still too internally focused and tend to organize around four main methods in taking products to market:
- Assuming company insiders know more than the buyers about what customers want to buy. Because you are an expert in the market or industry, you know more about your buyers and how a product can solve their problem or need.
- Basing products and services on what current customers request rather than an understanding of unsolved problems.
- Technology-focused products.
- Management "says so" products.
Many of these result in poorly defined products that miss the needs of the market, leading to many large expenses to the organization in not only lost opportunity, but also the necessity of creating a need in the marketplace by relying on expensive advertising or an army of salespeople, which results in more product failures than successes.
Companies that have taken the time to create a complete set of customer wants and needs, expressed these needs in the customers' own language, and have organized and prioritized this information consistent with the customers' thinking have been able to create goods and services that address their customers' needs before the customers even realize the need exists. These companies have enthusiastic customers, and have been wildly successful. Successful companies use VoC to get closer to their customers and understand their motivations, desires, needs, and problems.
Of course, it is not enough to collect this information from the customer. It is vitally important to take the customer's voice and inject it into your product development process so you too can create the next great breakthrough product, which is what we will be discussing in the next chapter.