Product and Brand Management Assignment – I “Role of Design Thinking in Developing New Products And Services in a Digital World” Group 29

Product and Brand Management
Assignment – I

“Role of Design Thinking in Developing New Products
And Services in a Digital World”

Group 29 :
Basil Shakir Hashmi (2235436)
Dinesh Kathir Raj M (2235394)
Sarath Chandra Sobhirala (2235357)

Introduction
Design thinking is process for creative problem solving that keeps people’s needs and desires at the core. Design thinking utilizes key elements such as empathy and experimentation to deeply understand the people you are trying to serve and to come up with innovative solutions that are rooted in people’s actual needs. The process is not a strictly linear process but it is an iterative process where steps may loop around between the different stages. The stages can sometimes occur in parallel and can be repeater iteratively. The different design thinking stages allow you to build empathy with the communities and individuals you are designing for, turn learning into the opportunity to design a new solution, and build and test your ideas before putting them out in the world.
Design thinking is fundamentally cyclical

Iterations in design thinking
In most cases, a single journey through the design thinking process (Empathize, Define, Ideate, Prototype, and Test) isn’t enough to provide a refined solution to a complicated problem. After all, once you’ve reached the Test stage, you have to do something with the test results, right? The logical next step would be to Empathize with the users based on those results, and so the design thinking phases begin again. The greatest products which have been ever designed weren’t just designed once, but instead they went through iterations of progressive cycles to get better and better based on continued testing and user input. The original iPhone, for example, was a design marvel for its time. However, if you actually go back and use a first generation iPhone, it would seem barbaric compared to its heavily-refined contemporary equivalent.

Each of the design thinking phases can be thought by one as leading toward a slightly more refined prototype. The first prototype of a mobile app, for example, might simply be a brief that describes the app at a high level. After testing that brief and receiving feedback on it, he/she might put together a set of functional specifications as a second prototype, then maybe a high-level navigational structure, then wireframe diagrams, then mock-ups, then an interactive prototype. It is important to keep looping through the design thinking process until a launch-worthy product is achieved, but even then the job isn’t done. Once the product is out there on the market, immediately go back to testing and empathizing, and start the design thinking process all over again for the next version.

Digital World
Enterprises are racing to revamp product design, manufacturing, sales, and customer service functions to accommodate ever-evolving customer preferences. The disruptive impact of digital technologies is such that product manufacturers are re-evaluating their core competencies, establishing new business models, and strengthening customer relationships to stay relevant and competitive. Developing profitable products is no longer just about achieving supremacy in customer experience and product excellence, but also about ensuring efficiency through the entire lifecycle of the product. Technology advancements that boost connectivity, and the declining prices of devices and processors, are paving the way for next-generation products. Leveraging digital technologies, the industry is rapidly churning out products with embedded smart devices, making them a lot more connected and intuitive.
In the increasingly digital world, information technologies are “liquefying” physical assets into information resources, and transform a service firm into a value-creating service system in which a constellation of economic actors (customers, suppliers, business partners etc.) are able to seamlessly collaborate to co-create value. With the ubiquitous digitalisation, goods are increasingly being embedded with microprocessors and intelligence and becoming versatile platforms for service provision with enhanced customer and supplier insights and superior self-service ability. It also reduces transport and communications costs, enhances the ability to interact directly with customers and suppliers and consequently coordination between firms becomes more efficient and responsive.

Consider connected cars,
The automotive industry has been at the forefront of adopting digital technologies to change the future of transportation. Disruptive digital technologies are enabling cars to connect not only with their own components but also with other cars, paving the way for autonomous vehicles. Connected cars are equipped with a wide range of services and systems such as lane change warnings, blind spot detection, and ergonomic warnings. They also provide online in-car entertainment, and offer personalized services. Connected cars also dramatically improve the driving experience through real-time monitoring and diagnostics. Combining crash prevention technologies with connected communication helps enhance driver and road safety. Transportation systems are becoming easier to manage as the connected car feeds real-time traffic data to the concerned authorities. Software features such as vehicle screens, digital services, and other applications, can be periodically updated over-the-air (OTA) for superior performance. Innovation avenues in the automotive industry are thus shifting from core technologies to the emerging digital space.

Role of Design Thinking
Design thinking is a human-centred approach to innovation that integrates the needs of people, the possibilities of technology and the requirements for business success. Design thinking fosters an iterative approach in which collaboration with the customer or user leads to a superior brand experience, one that has optimized the customer experience (CX) and the user experience (UX) in their end-to-end journeys throughout the value chain. Leading design thinkers have dedicated user experience/customer experience (UX/CX) teams in place, as well as an intense commitment to customer experience and interactions; to internal user experience and interactions; and to nurturing an ecosystem of partners and contractors that provides continual feedback on systems and solutions.
Design thinking is one of the key levers employed by organizations classified by the survey results as Best-in-Class digital enterprises. That means they closely embrace CX and UX as key to their success, and have committed resources to enable this. In addition, digital leaders will continue pouring more resources into their CX and UX, as well as partner experiences. Close to 90% of leaders say they expect to increase their investments and resources significantly in this direction over the next three years, close to three times the level of their less digitally advanced counterparts
The pervasiveness of digital technology in our daily lives has progressively demanded greater attention and specific expertise in designing digital solutions that in addition to being just functional and effective should also be pleasant and engaging. The attitude at the base of Design Thinking – aptly blending analytical and intuitive thinking – immediately appeared to be a good lever to help face such challenges. The synergies and affinities enabled design thinking to become the point of reference for emerging businesses, particularly digital related ones.
The digital transformation does not impact solely pro
ducts and services offered by the most advanced companies, but requires to radically rethink the processes and organizational structures enabling such products and services to be designed, implemented and distributed. The interest of management consulting firms and of the big software developers in Design Thinking highlights how this approach can support, with empathy and inclusion, very delicate organizational transformations.
Conclusion
Over the course of the last few years, we’ve seen design thinking (and design methodologies) go from specialized, mostly secret process employed by few experts, to a global movement. Whether one subscribes to design strategy, agile, Lean Launchpad ,human-centered design, Lean Startup, or some other design-led practice, at the end of the day these methodologies can be summed as non-linear, iterative processes that, at their core, are in turn supported by empathy and not the least by experimentation. It helps in using the basic principles of strategic foresight and design thinking which enables us to embrace uncertainty, identify opportunities and options, and make small but significant bets on those options and future. Thus we can conclude by saying that this is the essence of design thinking.