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Product Teardown to Enhance Time to Market

Product Teardown to Enhance Time to Market

Abstract

This white paper provides an overview of the product teardown process and explains how it helps improve the time to market for a new product. Product teardown is a bench marking process, which adds value to the design and generates new concepts. It helps to understand the current technology and functional behavior of parts, and identifies current product strengths, weaknesses, and opportunities for new product design. Product teardown also helps in finalizing the specifications for a new product, based on the analysis done in the competitor product. This document will serve as a good reference for  Medical device manufacturers and any new product designers.

Excerpts from the Paper
In current market scenario, it is very critical to understand the Customer needs and Competitor products, before starting any new product development. Customer needs can be obtained through VoC and understanding of the Competitor products can be obtained through Product Teardown. The combination of both these factors will serve as an input for finalizing the product requirements of new product. When compared to the past, time to market is reducing considerably in the recent market development forcing companies to launch their products in shorter duration with high quality to sustain competitive market.

In order to survive the competition in market with competitor products, it is very important to understand the competitor products for different aspects like technology used, costing and so on. Earlier, product teardown was mostly done for consumer products, mainly for cost reduction purpose. However, the current trend has been changed and the product teardown has been the main focus area for any new product development, especially in the medical and automobile industry. Product teardown should be done in a systematic manner, considering that lot of information from the product should be captured and some critical parameters must be explored in detail. 

 

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