Iterative Design
Designing anything for consumers requires thoughtful planning and constant reevaluation to solve problems you never thought could exist. To best prepare your product for the real world, it may be beneficial to go through some Iterative Design.
Iterative design is a strategy used to consistently improve your product. Iterative designers create prototypes to test and find the flaws in their designs, then they create a new prototype that fixed the previous prototypes flaws. They repeat this process until their final product has no flaws and is ready to be released. I like to follow this 7 step design for any iterative design I do.
1. Identify the problem: Clearly identify the challenge that must be addressed
2. Collect Data: Gather data that will inform the design process
3. Ideate: Brainstorm a wide range of solutions
4. Prototyping: Create a prototype
5. Test & evaluate: Test your prototype and evaluate how well it solved your challenge
6. Refine: Refine and improve the prototype
7. Repeat: Repeat the process until you’re happy with the results
It is especially popular for tech companies to release new versions of their products annually. You could think of this process as a never ending iterative process on one single product, where they release their most up to date models annually. This helps the product ensure it gets improved over time, and revitalizes the buzz and excitement around the product. Apple releases a new iPhone every year and this helps them generate new customers, encourages existing customers to upgrade, and increases brand loyalty through repeating customers. It is a key part of Apple’s marketing strategy that helps maintain their position as a leading tech brand.
Product Lifecycles
Most consumer products struggle to sell consistently over a long period due to Product Lifecycles. Product lifecycles break a products timeline into four sections. These four sections highlight the success of your product, and what you should/could focus on to grow.
The first section is Development, and is arguably the most important. This is the stage where the product is first introduced into the market. In this stage. sales are typically lower because the product is still being introduced. Marketers focus on generating buzz and making people aware that your product exists.
Next, is the Growth Stage. The Growth stage starts where development ends, when your product has released, and now you must focus on growing your product. To grow, you can seek avenues to educate people on your product. Have people try your product for free, like they do at Costco, and even finding new distribution centers to sell your product. In the growth stage, you want to focus on casting a wide net, so when your catch is plentiful.
The third section is the Maturity Stage. During the maturity stage, the product has reached its maximum market penetration. This is the section that the details shine. You’re competitors may have a better product, or a less expensive product, so you need to do all you can to perfect your product to outshine your competitors. Small differences in your product can make or break its success. Essentially, you need to compete against your consumers for that precious shelf space, and those slim profit margins. This is also the stage where your product can either fall out of quickly, like most fashion trends, or last for a generation like Apple.
Finally, the Decline starts. The decline stage is the inevitable end to the previously mentioned maturity stage. A good way to tell if you are on a decline is to see if your quarterly sales are dropping, if you are losing shelf space, or your competitors are starting to outshine you. Once the decline starts, it is a challenge to get out of.
Interestingly enough, we are currently in the midst of the record player digging itself out of its decline. It will be interesting to see the state of record players five to ten years down the line.
Every product goes through all four stages at some point in their lifetime, it is just a matter of when and how long each stage lasts. Companies like Oreo, Coca-Cola, Levi’s, Nike, and Apple have mastered keeping their products relevant by using iterative designed products like the iPhone. A combination of top tier marketing, and a genuinely loved product are both needed to become a classic brand. Iterative design can help you build the perfect product, and Product Lifecycles can help you understand the marketing needed to be done to continue growing.
Sources that helped me write
https://hbr.org/1965/11/exploit-the-product-life-cycle
https://www.smartsheet.com/iterative-process-guide
https://www.fonehouse.co.uk/blog/evolution-of-the-iphone/https://www.amazon.com/UX-Methods-Quick-Experience-Research/dp/0692972714