Business Design Strategy

How we helped our Fortune 100 client enter and navigate a new market.

The Ask

Our client, a global Fortune 100 manufacturing company with a strong B2B business, was launching their first consumer product. They had a solid product idea and the rigor to bring it to market, but needed help shaping the product experience and underlying business model to better fit the rapidly changing competitive environment they were now entering.
There was intense pressure to deliver, yet immense uncertainty. The client not only lacked sufficient data and understanding about the new customer, but were also battling a fast-moving digital market that grew increasingly saturated – with no signs of slowing down. Competition was fierce, with new technologies being introduced on a nearly daily basis. Innovative business models were also changing how people interacted with digital products and services. Smashing was hired help to create a novel business strategy that would resonate with the new target consumer and leverage their current expertise in a way that still differentiated them from the competition.
Writing on a whiteboard

Based on our research and concept testing results, we defined an approach addressed all user feedback. Additionally, we conducted breakeven analysis for several pricing strategies that helped our client consider alternative business models.

The Actualization

With the challenge at hand, Smashing jumped into action. Our team gathered findings from large-scale academic studies, industry reports, and articles, and reviewed over 100 competitive and comparative products and services. We analyzed our market research data to reveal consumer insights, identify trends and opportunities, and future-cast the types of businesses that will remain profitable. Then, in a one-week workshop with the client team, we used the insights we had gleaned to guide and facilitate three rounds of brainstorming that produced multiple viable concepts supporting potential business strategies. Through the workshop, we also helped unify the client’s multi-disciplinary team and ignite some much-needed excitement and passion for the new endeavor.
After the workshop, we conducted user interviews with five participants and an online survey with 70 respondents to validate the different business opportunities. Simultaneously, workshop concepts were mapped against known consumer preferences to develop three testable product directions that aligned with the most promising business strategies. We rapidly illustrated the concepts to test them in one-on-one user interviews with people who represented the target consumer. Based on key takeaways from testing, we refined our recommended approach and strategy.
Additionally, to help our client evaluate alternative business models, we performed breakeven analysis for several pricing strategies (e.g. monthly lease vs. one-time purchase, premium add-ons, etc.). We also identified partnership opportunities and potential release schedules for the client to consider. The culmination of our work provided the client’s senior leadership team with a viable business strategy for the future, as well as a blueprint they could use to implement the new approach.
MUX principles business growth

Everything from icons to data-visualizations were designed to be both beautiful and useful – be it from 10 inches away or 10 feet away. Our attention to aesthetics extended to the language and tone of the user experience – which would eventually translate into the personality “aesthetics” of the conversational UI feature.

The Accolades
  • Literature review of 120+ large-scale academic studies, industry reports, and news articles
  • Review of 100+ competitor products
  • Market research and analysis highlighting consumer insights, trends and opportunities
  • Future-casting analysis for product features
  • 100+ product feature ideas
  • User feedback from 75 participants on product’s strategy and vision
  • Concept testing evaluation with eight participants
  • A recommended approach for the product strategy, including business models and pricing strategies
  • Blueprint for strategy implementation
  • Alignment of multidisciplinary team towards a common product vision and strategy

Services

  • Literature Review
  • Competitive Analysis
  • Audience analysis
  • Market Research and Analysis
  • Future-casting
  • Value Proposition Definition and Validation
  • Value Mapping
  • Panel Surveys
  • Archetype creation
  • User Experience Design
  • Business Modeling

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