Value maximization in product development through holistic design

Abstract: Entrepreneurship and startups are widely studied themes that have been the focus of plenty of literature in the last years. In this sense, different methodologies have been proposed in order to ensure a successful market entry for startups, being the lean startup concept considered as the most useful and promising. Almost all of the studies on market entry for startups have been developed focusing on the business-to-consumer market, especially on the information and communication technologies. An almost complete lack of studies covering product development and market entry was found in the conventional industrial business-to-business market. In order to solve such a problematic, this master thesis has found its motivation. The present thesis introduces a literature review on methodologies used for product development and market entry for startups, i.e. using the concepts of lean startup, market analysis, minimum viable product, prototyping and business modelling. Afterwards, a methodology is proposed to increase market entry success’ possibilities for startups venturing in the conventional industrial business-to-business market. Finally, the methodology is used in a case study involving a young German start-up. By using the methodology proposed, an optimal product configuration with its corresponding draft design and business model was obtained. The methodology achieved to solve critical sub-systems’ bottle necks through iterative design, while at the same time delivering a business model that will be considered by the startup for its initial market entry strategy. Finally, it can be concluded that the methodology proposed is a success, as by using it the process of product and business development had results that correctly fit into the reality of the business. An invitation is left open to finish the design process of the non-critical sub-systems, as well as to keep developing in the customer-feedback iterations for both the product and business development.