The product development journey is a high-stakes endeavour. A process that requires various sets of expertise from design and manufacturing to market research. You wouldn’t travel the country without navigation -and this process has a similar rule.

The Experts

A design consultancy brings to the table a team of experts with specialised skills, that can guide you seamlessly through the product design pathway. This route will help avoid common pitfalls. To these people, it’s the day job. This team of individuals will have a wealth of experience in ensuring your vision is brought to life effectively. They bring an outsider’s fresh eyes to the table, enabling you to identify new ideas, risks or weaknesses.

Budgeting and Direction

When developing a product, time and cost are factors that get easily underestimated. People are often surprised at the amount of money it takes to get a product to market. Consultancies can be up front about this from the start and provide you with ballpark figures, helping you forecast and budget for the process. Additionally, an experienced agency will have in place a development pathway. They will talk you through the stages required and the time it will take for your product to be complete. Having a clear time frame will help set realistic expectations.

What it Takes To Succeed

Another significant benefit to utilising a consultancy (which can often be overlooked!) is the critical perspective they bring. This is crucial for assessing product viability. Does it have what it takes to succeed in the market? Consultants can conduct feasibility studies, market research and risk assessments. Ensuring that your product aligns with consumer needs and industry trends. Is there actually a gap in the market? Their insights not only reduce the risk of developing a product that doesn’t resonate with the market, but will provide you with a road map. Refining your go-to-market approach, improving the likelihood of success.

This is particularly important to high-risk products in which significant investment is required, an example being medical devices. For these types of products, the stakes are much higher, not only in terms of financial commitment but also safety, compliance and market acceptance. A consultancy’s expertise becomes invaluable here because they ensure the product is not only viable but also meets regulatory standards and safety requirements. Small errors or oversights can lead to major consequences, such as harm to patients.

Specialist Expertise

Finally, partnering with a consultancy offers flexibility and scalability. Whether the project is large or small, consultancies can adjust their team and resources to meet the demands of the project. It really is whatever the customer wants! So, while product development is an exciting journey, it comes with numerous risks that can threaten the success of even the most innovative ideas. By engaging a consultancy such as ITERATE, you gain access to specialised expertise, strategic guidance and advanced tools that can help mitigate the above risks.

If it is a journey you are considering embarking on, take a look at our website; iterate-uk.com. We are a design consultancy that is known for our disruptive technologies and who specialise in designing consumer products through to medical devices. Our door is always open, so please do get in touch for an introduction chat.