Software Product Development – The Market Readiness Factor

While there are thousands of software product ideas born in the minds of people, a lower number is what moves into a development cycle. Even smaller is the number of ideas that get funded to move forward. The sad part however is that a still fewer number get released and a yet smaller number become successful and profitable in the long run.

The good thing is that this fact does not seem to deter people from coming up with new ideas and others to bank their buck on it, which is good news. But there seems to be a common factor that links all product journeys that fail. The inability to see the Market Readiness factor.

Market Readiness in the context of 레플리카사이트 building software products is much about a reality check that one should be doing during every aspect of the development process to ensure that you are in line with what the market demands.

For the core goal of being sellable and in turn being profitable, software groups can adapt to a few interesting approaches while creating products.

What gives Software products their competitive edge are the features and functionalities they deliver. Being able to prioritize from a large feature list so that you can break it into deliverable modules of the most important, attractive and sellable feature sets is very important.

Once the Feature list has been prioritized it is best to run it through a Market demand check where you do a competition analysis of these features with what your competition is offering. This will help you be practical and closer to market expectations. There is no point prioritizing features without knowing what is out there in the first place.

Following an iterative development is important for Market Readiness as this helps you in both breaking down the overall product idea into deliverable chunks as well as enabling you to make corrections as you move from one deliverable to the other. In short this method enables you to build your product tuned to the markets foot steps. An agile based development model that can progress in sprints is a great way to do development unlike the traditional waterfall method.

Testing is never enough and the reality is that it is never budgeted for, or the development eats from it. While ad-hoc testing happens here and there many software product teams plunge into development without a firm plan on testing and this can turn catastrophic in both the short and long term.

You are Market ready only if your product is adequately tested. More than testing it is the knowledge of the optimum test coverage you should aim for. Also important is how you plan to manage an ongoing health check on your product so that you can have all the critical bugs covered from time to time before your customers find them.

This is very critical for market readiness as the initial adopters of your software will back off if they encounter simple errors that stop them from using it

If you want to be Market Ready, your software product teams need to have usability experts who can come up with the best usability experience. Your analysis of your competing products can also drive valuable insights into this process.

A constant enemy of success is the cost to market. If you are cost effective in developing or testing your product you can have multiple benefits. You will be able to release the product to your customers far cheaper than when your cost to market has been over the roof.

Having a cost effective model also enables you to do additional feature development at lower cost and that way you will be able to add more to your product even if its only a small section of customers who demand them. Lower testing costs will further ensure that you put more testing hours into your projects to uncover and resolve defects.

The advent of the social media has enabled companies to build product tribes even before the product is released. Creating social tribes or groups around your product idea is a great way to get real time insights into your product market. This also enables you to manage your market release to meet the demand.

A Social initiative could help you to land up on potential reference users who can act as your initial adopters and if happy be your product evangelists in the market. No one can sell your product better than your customers and this is a great way to enroll your initial customers into your sales engine