Developing New Products and Services

A central theme of this book is that there is, or should be, a constant struggle going on
in every organization, business, and system. The struggle is fueled by the dynamic
tension that exists between delivering Midas feature-rich versions of products and
services using extravagant engineering and delivering low-cost Hermes versions of
products and services using frugal engineering (see the following figure). Midas
versions are high-end products for nonprice-sensitive consumers. Hermes versions are for price-sensitive consumers. The results of this dynamic tension between Midas versioning and Hermes versioning are Atlas products and services. Atlas products and services are designed for mainstream consumers. Atlas products and services incorporate the product design features that will attract the broadest customer base and will also be profitable. The driving force behind the development of Midas, Atlas, and Hermes versions is driven by the implicit creative genius that everyone possess and most businesses should possess as they engage in continuous learning-about and
learn-by-doing activities.

Cut Rita Zahara

Creative Commons