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Ritchie Tech

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Product Development (NPD)

Overview

Innovative & New Product Development is the key for the growth of any economy and it should remain a high priority even during current global economic downturn. Mellower, higher, more effective and efficient investments in education, research, innovation and utile research based product development are the key factors for the sustainable long-term growth.

The continuous development and market introduction of new products can be an important determinant of sustained company performance.

Ritchie strongly believes -

NPD is not just about creating successful new products. It is about creating new products that will help companies succeed in the global economy. It is also about eliminating products that no longer contribute to the success of the firm.

Consumer-driven innovation may sound obvious, but the latest technological discoveries are often what drive innovation in many companies. Yet technology-driven innovation is only successful if it fulfills an unmet consumer need.

So for the new product development, the core objective of Ritchie would be the Consumer-driven innovation & being utile, and the technology and other things follow.

Ritchie also believes and advices the organizations across industries that the New Product Development (NPD) should carry on despite financial and operational pressures to meliorate economic growth & development and to remain competent.

NPD Process

Typical process approached by Ritchie in New Product Development (NPD)

  • Conceptualization
  • Concept testing and approval
  • Research and Development
  • Prototype Testing
  • Economic and Market research
  • Decision Making & Execution with regard to - positioning, pricing, packaging, distribution, and promotion

We at Ritchie are keen to listen, understand and attend to the Product Development needs of Government and Private organizations.

Outsourcing Product Development

Outsourcing Product Development is not a new thing in this Industry, and is been a very successful model, which helped many SME to Large entities in achieving their business objectives. We at Ritchie call it as Outsourcing Product Development (OPD) unit, and major New Product Development (NPD) work across verticals and technologies are being outsourced. The services provided by Ritchie's product design and development team run the gamut from ideation to industrial design to developing prototypes to launch strategy and everything in between. The small to midsize firms and Government entities makes up a large portion of its client base.

Outsourcing the New Product Development enhances productivity in your workplace, enabling you to handle more business. We urge & welcome the Government and Private entities across Industries to outsource their Product development effort to Ritchie. We at Ritchie are perfectly poised and determined to understand your Product Development concerns and attend to your NPD needs.

Ritchie is connected with huge network of Business Partners, Technology Partners, Academic Research Institutions and Individual research Institutions across Asia. Also being associated with a variety of highly qualified contract partners, we ensure that all necessary skills are available to ensure success upon delivery.

Critical Success Factors:

  • The Ambitious Role of Top Management
  • Build-In the Voice of the Customer
  • Innovative, Utile, Differentiated, Superior Products
  • Up-Front, Solid pre-development Homework
  • Demand Keen, Stable and Early Product Definition
  • Plan and Resource the Market Launch early in the Game
  • Building tough Go/Kill decision points into the process
  • Organizing True Cross-Functional Project Teams
  • Leveraging the business’s core competencies
  • International Orientation into NPD Process

What you can expect from Ritchie 

  • Expertise in NPD strategy and methodology
  • Competency on the specific domain
  • Highly experienced and successful NPD team
  • Global coverage
  • A results-oriented approach and a successful model
  • Confidentiality 
  • Transparency on NPD effort to the client's responsible senior management
  • Periodic status updates
  • We're a full-service innovation firm – One shop stop for all your NPD needs.

Are you curious to know, how Ritchie can add value to your specific Product Development needs? Please get in touch with us right away - curious@ritchietech.com