In "Propulsion 2020—Propelling Product Development in the Age of the Customer" analyst Predrag (PJ) Jakovljevic of Technology Evaluation Centers provided an overview of Propel's history, offerings, Propulsion 2020 speakers and soundbites, and Propel for Medical Devices.
The following is an excerpt from the article:
"As the fate would have it, Propel’s very first user event, dubbed Propulsion, had to be held virtually due to the COVID-19 pandemic. Nevertheless, the online event featured a compelling lineup of speakers that included Geoffrey Moore (the best-selling author of the “Crossing the Chasm” and “Zone to Win” books) and Tiffani Bova (the best-selling author of the “Growth IQ” book). In addition, a diverse set of other experts discussed the current political, economic, and social issues that impact all of us.
The days of companies designing over-engineered industrial products, hoping that the market will like them, and hoping that the company will hit a home run and make a killing in the market, are long gone. Today’s educated, savvy, and fickle customers require new types of products, with a major shift from transactional (one-and-done) physical products to ongoing services and subscriptions.
In his keynote presentation, Geoffrey Moore pointed out the resulting pressure on PLM software is to adapt to the changes in design where the main goal is to attract, engage, convert, and enlist prospects and customers. Companies need to build a minimum viable product (MVP), with a proper product/market fit; a product that is mobile-first and cloud-first in nature.
This new offering needs to come with modern application programmable interfaces (APIs) as well as with legacy interfaces (to accommodate the existing environment). Then this MVP product gets improved over time based on an ongoing user and customer feedback (the aforementioned “correction” phase) in today’s subscription economy.”
