Concept
This is the ideation stage where the offering is born. Focus is on the “why” and the demonstrable value from the customer to us. Scope and size can range from a minor, simple offering to a major, complex new initiative. The main objective is for us to determine if the proposed offering is worth further investment. It's not necessary that all features are nailed down, as offerings exiting the Concept phase simply support it's worth further investment.
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It's important for offerings to go through this phase early to ensure that all parts of the business are bought in. ​
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Entry criteria:
We have an idea of what we want to bring forward.
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Exit criteria:
We've demonstrated that the product is worthy of further investment as demonstrated by a business case.
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Key Planning Deliverable:
Business Case
Market Opportunity
Our potential to sell an offering to meet customer need(s) in a specific market. It reflects the size of demand, growth potential, and ability to compete, showing where we can create value and gain revenue.
Product Strategy
Our plan for how the offering will meet customer needs and drive business goals. It defines what to build, who it’s for, and how it will stand out. A strong product strategy guides development, marketing, and growth to ensure long-term success.
Market Strategy
Our plan for reaching customers and winning sales. It outlines who to target, how to stand out, and the best ways to deliver value. It guides our decisions to grow, compete effectively, and achieve long-term success.
