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New Product News reports in Forbes magazine that of the 36,000-plus products that will be introduced this year, 80% will fail. While new products and services fail for many reasons (poor quality, excessive cost, late to market, superior competition, etc.), more than half of these failures can be traced directly to an inability to provide better value for the customer.
So how to understand better of voice of customer is very critical for product development and typically is the first step in product planning. At the same time, even many companies spend some sometime to understand the VOC, but they are typically subjective and immeasurable in engineering terminologies. ITI's target setting process combines prioritized customer requirements, customer perceptions and technical competitive benchmarking into specific and measurable performance targets. The results are successful innovative new products, shortened development cycles and a bisis for continuous improvement.
Typically requirements research (Voice of the Customer, lessons learned, competitive benchmarking, etc.) is first completed. This information is compiled in the form of customer wants/needs then converted into predictable and measurable targets, typically applying Quality Function Deployment (QFD) methods and tools. Targets must be defined based on the customer-focused product planning and therefore always tie product design decisions to the marketplace, Voice of the Customer (VOC) and business goals.
Targets start at the system level and are cascaded into the subsystems and component over the course of development. Derived from subjective wants and needs of end users and other stakeholders, targets are systematically converted to engineering specifications as measurable and predictable customer-focused targets though QFD and other programs
ITI’s target setting process is shown as below. Major steps include:
We will work with customer side by side to help customer establish the target setting process, at the same time, transfer the knowhow to customer to really help customer to be successful. During the project, what we offer are as below:
By implementing ITI’s target settings, customer can achieve: