When you plan to create a good product, then product discovery methods are needed. So, what are these methods that you must consider, and which product discovery methods to apply?
Read on to learn more.
Introduction about Product Discovery Methods
Product discovery is the process of collecting information about the product, which can’t be easily collected by other product development practices. During this process, the information about the product is collected, processed, analyzed, integrated with existing information about the market and other products to create new product concepts.
Moreover, product discovery methods are one of the important methods to use in product development. There are several different types of methods, among them are user research methods, market research methods, secondary research methods, and so on.
Let us know some popular product discovery methods that are commonly used by companies.
Popular Product Discovery Methods
• User Research Methods
User research involves studying users’ needs, behaviors, opinions, and attitudes through interviews, questionnaires, surveys, and other techniques. This method collects users’ needs and problems related to products.
The information collected will be useful for understanding users’ expectations about products. It also helps users understand what they need in products.
• Market Research Methods
Market research involves collecting information about customers or potential customers – their behaviors, attitudes, or preferences; this information is used to help determine how to position a product or service for maximum appeal.
This method helps you understand how customers perceive your product or service and what they want from it. It’s important to check whether customers will purchase your product or not.
• Secondary Research Methods
Secondary research includes collecting information that already exists anywhere else – in reports, papers or books. It includes analyzing the data already collected by someone else. The data may exist in databases or another form of storage media available online or offline. Secondary research provides an overview of the market conditions and competitive landscape of the industry which helps you evaluate your business idea against your competitors.
• Other Methods to Consider
Other methods you should consider when creating good products include:
- Design thinking methods (these are widely used in creating new products)
- Lean startup methods (this help reduce waste within a business)
- Agile software development (this method is used to create software that meets customer demands)
- Product management techniques (this method is used to manage various stages of any kind of new product) and many others that can be applied in various types of business environments.
Product Development Process
Here are at least 3 steps for the product development process.
Step 1. Product Ideation
During this step, you need to come up with a new idea for a product, based on your knowledge about customers or potential customers. You also need to determine whether your idea is wanted by customers. It is crucial to have a problem statement that is customer-centric to create a new product that customers will want to purchase.
Step 2. Customer Validation
During this step, you need to validate the customer’s need for the product, using the user research methods discussed above. It is important to identify who your customers are and what their needs, problems, and expectations are for your product. This step is important to find out if customers need your product or not. You should also learn the market size, the market segmentation, and the market trends – this will help you determine if there is enough demand for your product.
Step 3. Develop Product test
During this step, you create a new product based on the information collected during the previous steps. It’s important to know what you want to create by brainstorming, prototyping, or other strategies. This will allow you to develop an excellent product that meets customer needs.