How Software and Mobile Tech Can Lower The Research Development Time required for Product Go-to-Market Strategies

May 16, 2022

By: John Tomblin, Senior Solutions Architect
Mesa Bizz, a division of Sofvue, LLC
Printed with permission of Sofvue, LLC and the author

We live in a dynamic world. Yesterday, from my new “home” office, using Zoom, I gave a PowerPoint presentation to a dozen stakeholders that attended the meeting through acceptance of an email sent two weeks prior, and because of modern technology, everyone was automatically notified of the meeting time in their specific time zones. During the call, I was able to record questions for eventual follow-up, and I did all of it without getting into my truck, picking up a phone or printing a piece of paper. I didn’t even need a fax machine! Think about that for a moment and consider that just twenty years ago, this would have been impossible. These same conditions are also true in product research development, and across multiple market segments, including science, aerospace, robotic and biotech research, to name a few.  

Having the right tech stack at your disposal can significantly speed up the research process and reduce the potential for error. Moreover, having the right software and mobile apps at the ready reduces the resources you will need to conduct the research, and will go a long way in helping conceptualize Go-to-Market strategies, or what is often referred to as GTM strategies.

That said, let’s understand how software and mobile technology can reduce the R&D time required for executing a Go-to-Market strategy, which by itself is a topic for another time.

Role of Technology in Research and Development

Just like “Moore’s Law” from 1965, from gadgets to apparel and software to aerospace, the speed of technological advancement is continually increasing, and in most tech sectors, doubles by an X factor every 18 months or so.  As a result, companies can no longer afford to ignore the generational effects of technology and expect to become market leaders. Understanding customers’ demands and expectations require sophisticated GTM strategies, then execution.   

Articulating product demand is a two-step process.

1. Converting market data into a conceptual product concept

2. Engineering the concept into a measurable, repeatable, development cycle, then creating the tactical steps to make it happen.

However, demand articulation works best when your industry is technically sophisticated. That’s because the more technically competent your industry is, the higher the adoption rate. To understand this better, you need to understand that, according to Wikipedia, “Demand articulation is a concept developed within the scientific field of innovation studies which serves to explain learning processes about needs for new and emerging technologies. Emerging technologies are technologies in their early phase of development, which have yet to become manufactured products”.

Another area where the right software can help improve research and development is equipping companies with the right amount of actionable data. For instance, by integrating artificial intelligence (AI), you can quickly structure raw data and convert them into actionable insights.

Role of Technology in Creating Go-to-Market Strategies

Conducting market research regularly is essential for companies who want to stay competitive -- especially in crowded markets.

Market research helps understand what your target audience expects from you, facilitating areas of improvement. It can also help determine what your competitors are doing better than you.  

The best part is that you can touch thousands of potential customers with market surveys without moving an inch from your desk. For instance, you might develop a custom mobile app that allows you to conduct market surveys for new product concepts in the marketplace, and discover through your research there is significant pent-up demand, and decide to hire a mobile app development company in Mesa to create the tech. The mobile app could then be used to push surveys to a wide swatch of potential users, capture feedback, generate analytics, all in an effort to help you decide what type of GTM strategy might work for a new product or service.  

Wrapping Up

Mobile technology and software play a vital role in the modern R&D process, reducing research time and helping you better understand your market.  If you haven’t yet integrated technology into your research and development processes, now may be the time.

MesaBizz is an award-winning mobile app development company in Mesa that can help you lower research and development time with tailored software solutions. To learn more, contact us at 623-845-2747.

References:

LINK:  https://en.wikipedia.org/wiki/Demand_articulation

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