Product proposition review, development and design
As part of an international Financial Services company, the Hong Kong team was planning ahead, looking into introducing a new product to their consumers on top of what they were currently offering.
The product is already available in their other markets. Before investing money, time and effort in developing and introducing the product to their Hong Kong consumers, the local team wisely wanted to know if this is even a product that Hong Kong people would like, want or need. If it is, how should they position and design this product within their existing offerings in this market.
Beyō Global was brought in to help them to achieve that.
To validate the proposition of that specific product in the Hong Kong market
To understand the challenges and pain points Hong Kong people face in the relevant areas, as well as their needs, behaviours and attitudes towards that
To understand how the product could fit into the Hong Kong financial ecosystem
To have a clear direction on how this new product should be marketed, positioned and designed, alongside with other products this company offered in Hong Kong
Based on the identified objectives, we proposed an approach based on the following principles:
A good balance between time, cost and quality of output
Tactical and strategic actionable output
Close collaboration with the local teams
A clear strategic direction on what the new product proposition should be and how it fits into the business as a whole in Hong Kong
A clear design direction on how this new product would look like, considering all the users’ and business requirements
Aligned views and goals between the marketing and product teams. This project and the proposed process had encouraged both marketing and product teams to constantly sit together to have much needed constructive discuss and challenge each other
An efficient and productive way of working. With such a collaborative approach, the move from ‘not knowing whether Hong Kong people want this new product’ to having a solid view of how to position, market and design the product in less than 10 days (comparing to their last product which took almost 2 years from design to launch)
» Marketing team
» Product team
» External design team
» Beyo Global
Have a new product that you are thinking to create and launch? We are happy to chat.