4
Product/service definition
and strategy
Claire Rowland
Introduction
We all aspire to create the killer product or service that people want to buy and
love using. The key to this is ensuring that the product solves an actual
problem that people have, in a way that appeals to them. At a pinch, it might
provide them with something new and wonderful that they never knew they
needed. It sounds simple and obvious, but it can be remarkably difficult to get
this right. Right now, the IoT market is skewed towards innovators and early
adopters. There’s huge potential to create great new products for consumers,
but they may have to contend with new types of complexity.
This chapter introduces:
O Productization as part of IoT design (see page 2).
O What makes a good product for different audiences (see page 7).
O How products differ from tools (see page 14).
O What makes a good product (see page 19).
O Building service offerings around products (see page 28).
O Business models in IoT (see page 35).