AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Managing Success Factors in Product Development
Success in product development depends on various drivers, which are often beyond control and have a significant impact on the success of a product. These drivers have more variables, making it harder to control and steer the future in the desired direction. Unlike other key factors, when mistakes occur in these drivers, there is limited opportunity for correction, making it crucial to get them right from the start. Acquiring users efficiently is essential, and if the rate is not as expected, it becomes challenging to remedy the situation, even with increased advertising expenditure. Leveraging scale and network effects through cross-promotion, referrals, and increased distribution is critical for product success, and neglecting these factors can lead to missed opportunities and decreased value.