Conceptualizing Products/Services Using FAD
Product/service feasibility analysis is crucial to a successful design. This type of analysis is used to analyze the market and product feasibility of the product or service. An organization can develop a wonderful product or service but fail to gain market share. This is often directly related to gaps in the feasibility analysis.
Developing Blue Ocean Markets from Complementary Products and Services
Many innovative products and services are actually complements of the original products. The innovation can be an add-on feature, an after-market service, or a different product or service. Transportation devices have spurred the development of substitute energy sources such as steam, electric, fuel cells, and solar energy. The automobile was the driving force behind the development of better roads, fueling stations, diners, and truck stops. The development of better sailing ships led to the need for complementary devices for navigation tools such as maps, star maps, compasses, sextants, and GPSs. The FAD template and the Strategy Canvas can also be used to identify competitive complementary products and services.