‘Total convenience' is the key to NPD, says Forrester

US-- A new report from Forrester claims that the success or failure of a new product comes down to one simple concept: convenience.

Forrester's James McQuivey says companies need to change how they think about convenience. Rather than just being one aspect of a product's success, he says, it is the key factor, and encompasses everything from product research to acquisition, use and eventual disposal.

This means weighing up the benefits of a product alongisde the barriers to its use, and realising that no matter how good a product is, other factors relating to price, availability or distribution could scupper its success.

McQuivey told Research: “A lot of people talk about convenience, but where they go wrong is they think people will trade off convenience for a better price or a sexy brand name. They think of it as one attribute among many that people want. It turns out that's the wrong way to think about it. We've redefined it to encompass everything. The low price is part of the convenience, the attractiveness of the brand is a convenient way to let people know they can trust it. It's a combination of price, design, branding, multiple distribution points through which people can get hold of it…”

So far Forrester has focused on consumer electronic products, but McQuivey says the same principle of ‘total convenience' can be applied to all sorts of products or services.

McQuivey said the Convenience Quotient methodology can't offer all the answers, but provides a framework for firms to work out where they are going right and wrong. “We're just helping people crystallise the value they offer,” he said. “It sounds easy enough, but it turns out it's something a lot of large organisations have a hard time with.”

Author: Robert Bain