New Product Development
We’re passionate about creating products. It’s what we do, day in, day out, and nothing beats the feeling of turning a product from an idea into reality. The team at Senses8 have a proven track record of award-winning product development, with over 20 years of experience in categories that include Sex Toys, Health, Wellness, Lingerie, Bondage, Apothecary, Gifts and Games.
Senses8’s New Product Development services
NPD Strategy
If you don’t yet have a strategy, don’t worry! We will work with you and your team to review what you have, then build a New Product Development (NPD) strategy with a plan for how you can achieve it. We will help you to:
Set goals
Identify priorities
Create a product road map
Put in place a timeline
Commercial Planning
Not all products make commercial sense and we can help you to identify risks and opportunities early on within the product development process. We will help you with:
Market analysis
Price modelling including promotions
Commercial model: revenue & profit
Budget planning
Project Management
Our proven methods of Project Management keep you on track and within budget. Let us manage your project for you, which will include:
Product specification file management
Sample management
Packaging briefing & management
Stakeholder management
Product Sourcing
Our team is experienced with sourcing products from around the world. With over two decades of experience in the Far East, we can help you to find the best product at the best price from the best supplier.
Product Design
We're here to bring your design ideas to life and support you throughout the design process, ensuring they're optimized to be the best they can possibly be. Our trusted network includes experienced product designers and engineers.
Continuous Improvements
By reviewing your current portfolio we can identify opportunities for improving existing products as well as expanding upon existing successes, ultimately increasing customer satisfaction and boosting sales.
How we work with you
Our services are tailored to the individual needs of your business, with all of our work focused on ensuring the products you develop are delivered on time and within budget.
Whether it's innovating with new technology, expanding your brand, or entering a new market, our NPD approach ensures smooth project execution.
We're flexible in our collaboration. We can integrate into your existing team, act as your dedicated product development team, or provide training and mentorship within your business.
Whatever your needs, we’re flexible enough to meet them.
Meet the Senses8 New Product Development team
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Bonny Hall - Co-Founder
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Paul Jaques - Associate
How Senses8’s NPD Services can help your business
Sell More
Successful New Product Development can lead to increased revenue streams by opening up new market segments. NPD can also allow you to charge premium prices for innovative products, increasing your profit margins.
Reduce Costs
Implementing an NPD process can help to streamline production and improve operational efficiency. Over time, this can lead to cost reductions and increased profitability.
Happy Customers
New products that address Customers’ needs can significantly enhance Customer Satisfaction. Continual NPD helps to retain existing customers by offering them new and improved products, reducing the likelihood of them shopping elsewhere.
Competitive Advantage
NPD can result in the creation of Intellectual Property (IP) such as patents, trademarks and copyrights. These can provide a competitive advantage and lead to new revenue streams through licensing and sales.
Become a Market Leader
Successful NPD can establish your business as an industry leader. Being the first to introduce groundbreaking products can set you apart from your competitors.
Diversify Your Portfolio
Developing new products allows your business to stay competitive in the market. It is imperative that you keep up with changing customer preferences and industry trends. By developing new products you can diversify your portfolio, reducing dependence on a single product or market.
Let’s chat about how we can help you
Send us a message via the form below, including how you think we can help you grow your business. We’ll then get back to you with some initial thoughts and offer you a free consultation session.