It involves identifying Phone Number List market opportunities, defining a problem and evaluating the viability of a product.
The goal is to create a clear vision of the product before investing time and resources in development, reducing the risk of failure and increasing the chances of success. In Portuguese we can translate Product Discovery to “product discovery”.
How important is it for product development?
It helps ensure that the product meets customer needs and market demands.
It reduces the risk of failures and wasted resources in developing an inadequate product.
It makes it easier to establish an appropriate price for the product.
Helps you surpass the competition.
Collaborate to find a target audience
When to do Product Discovery?
Product Discovery is usually done at the beginning of a product's development cycle or before you even start to develop anything. This helps ensure that the product meets the needs of the market and target audience.
Avoid unnecessary spending of time and resources on ideas that may not be viable. The objective is to minimize risks and maximize the product's chances of success.
Product Discovery may not be done early in product development. This can occur if there are significant changes in market or target audience needs or if there is an increase in competition. The aim is to ensure that the product continues to meet the needs of the market and target audience and remains competitive.
Product Discovery Steps
See what steps are necessary to apply a Product Discovery:
Alignment:
At this stage it is necessary to clearly define the objectives and goals of the product. This includes understanding your needs and defining your main functionalities.
It is also necessary to evaluate the market and competition to ensure that the product has a competitive advantage. It is important to align expectations and ensure that all team members are on the same page.
Customer survey:
It is important to collect information about customers' needs and wants. This may include conducting interviews, market research and data analysis. It is also necessary to understand the context in which the product will be used and the main pains and problems that customers face.
The goal is to gain valuable insights that can guide product development and ensure it meets market needs.
Definition of the problem:
After the research, it will be possible to clearly identify the problem that the product should solve. This includes defining the scope of the problem and understanding its complexity. It is also necessary to assess the impact of the problem on the market and target audience.
It is necessary to clearly document and communicate the problem. This ensures that everyone is working towards a cohesive solution.
Ideation
After having defined the problem, it is important to generate ideas to solve the identified problem. This may involve holding brainstorming sessions with the team or using creative ideation techniques.
It is also necessary to evaluate the viability of the ideas generated and select those that seem most promising. The goal is to create a set of potential solutions to the identified problem.
Prototyping:
Prototyping transforms selected ideas into tangible prototypes. This may involve creating sketches, wireframes , paper models, or more sophisticated digital prototypes. It is also necessary to test and validate prototypes with the target audience to evaluate their effectiveness and collect feedback. The goal is to have a clear understanding of how the final product should work and how it will be received by the market.