Business Case for Innovative New Product

STRATEGY DEVELOPMENT AND PRODUCT PLANNING

Think.Act worked with the client to develop the board-level business case for a new product line in the consumer electronics market. The plan was approved, and the case used to shape product development and go-to-market execution.

The Business Challenge
The client, an innovative consumer electronics OEM, was investing a potential new line of business to leverage their core competencies to address a new opportunity. The client needed to develop a business case justifying an 8 figure investment in developing and launching this new product line, which required board level approval.

The Approach
Think.Act developed the business case used by the client to successfully secure board level approval for a major new product line. Think.Act worked directly with the executive team, including the CEO, to develop the core business plan and the accompanying presentation to the board. We engaged across the company’s key functional teams – product management, channel & sales, finance, engineering, and manufacturing – to create the business plan and board presentation.

The Outcome
The board approved the plan, leading the company to successfully develop then launch their product into the new category to a strong market reception. Furthermore, Think.Act’s work was used to guide product development and business development efforts for the group as it drove to bring its offering to market.