Taking propositions to market
Our client, a Healthcare Services Provider, is a subsidiary of the UK’s largest insurance group. Having launched a new sales and marketing strategy, it needed to support the strategy with revitalised product development and delivery processes.
The company had not launched any new products for more than two years. Development was uncoordinated and often done in isolation, spending far too long in the laboratory stage. As a result, the company’s new product time to market (TTM) was typically two years or more.
The new strategy demanded that the time to market be reduced to between 90 and 270 days, depending on product complexity.
In the words of their Marketing Director: “We need something comparable to the best in the FMCG industry.”
What Verdandi did
Using our well-established framework approach, we designed, built and implemented a ‘Manufacturing Runway’ in 90 days. Key features of this fully integrated method were:
- Concurrent development of product, systems and infrastructure in a benefit-led, rigorous project environment
- Non R&D activities moved out of the laboratory and into business as usual functions
- Clearly articulated propositions built around the client’s customer segmentation
- Consumer driven creative elements supported by customer research
- Clear and separate accountability for product integrity and proposition delivery
- Multi-disciplinary partnerships
- Developments authorised using Verdandi’s ‘Value Management’ bid processes
- Rapid identification of the propositions needed to fill gaps in our client’s product portfolio
- The ability to accurately assess and categorise product complexity, resulting in predictable TTM
- The first new product was delivered on time, in 90 days, exceeding its sales target, and winning praise from our client’s main competitor
- Resource utilisation was vastly improved, giving the capacity for multiple concurrent proposition developments within existing systems and infrastructure
- Financial controls were enhanced, guaranteeing product profitability