An Introduction to Trendler’s New Product Development Process
In this day and age, new, innovative products must be manufactured of the highest quality to meet today’s marketplace demands and customer expectations.
A key part of Trendler’s success has been built on exceeding their customers’ expectations in the variety of markets they serve. Trendler is trusted around the world for producing high quality swivels, chairs and barstools, built to their customer’s needs. From manufacturing shop floor to the front office, Trendler employees, including its new product committee remain focused on their commitment to new product development.
Before we dive into the methodology Trendler’s New Product Committee uses, let’s first define product development. Product development is the creation of products with different characteristics that offer added value to customers. It might involve the modification of one or several products or the creation of a wholly new product that can satisfy the demand of the target audience or customer.
For over 30 years, Trendler’s new products committee has used the Booze, Allen, and Hamilton new product process methodology, which includes 7 different stages: new product strategy development, idea generation, screening & evaluation, business analysis, development, testing and commercialization. The process provides Trendler with an invaluable guide to develop new products in a comprehensive and orderly fashion for its customers. Here is a summary of each stage and what a Trendler customer can expect during each phase.
Stage 1: New Product Strategy Development
The process kicks off with identifying a customer’s wants and needs. If Trendler doesn’t have a product that meets the customer’s criteria, the team initiates the new product process and moved to stage 2.
Stage 2: Idea Generation
Trendler’s new products committee meets twice a month to brainstorm ideas. While most of the ideas generated are voiced from Trendler’s customers, other ideas come from marketplace trends.
Stage 3: Screening & Evaluation
During this stage, Trendler’s committee narrows down the number of ideas generated and focuses only on those that offer the greatest potential. The idea needs to meet economic value threshold in today’s marketplace.
Stage 4: Business Analysis
The most promising product ideas come under intense analysis and business plans are created to formulate preliminary recommendations. During this stage a price is quoted and given to the customer for review. If the price and quantity is agreed upon, Trendler’s team moves forward to the next stage where a sample or prototype is created.
Stage 5: Development
Once a product enters this stage it takes 2-3 weeks for development. Development involves the actual assembly of the offering. It’s common during this stage a product may go through many alterations.
Stage 6: Testing
The dependability of products manufactured in Trendler’s Chicago plant are assured by total quality management procedures with their onsite American National Standards Institute/ Business and Institutional Furniture Manufactures Association testing facilities.
Stage 7: Go to Market
A customer is presented with their new product order. At this point in time, the customer has the ability to choose an exclusivity agreement, meaning only this product can be manufactured for their business. If a customer declines a non-exclusive agreement, the newly manufactured product is brought to market and commercialized.