Providing a service, or creating a product is an intangible offering one time exchange for value. The value of a service or product often comes from the prospective benefit that the customer places on the service or product. The development of a service or product is key to creating that benefit for your customers.

There are three phases to developing a service or product:

The First Phase is clarifying that your idea that will connect with your customer. Who is your target audience? What benefit will your service or product provide for your customer?

The Second Phase is developing what the service or product will look like (finished product) with detailed descriptions.

The Third Phase is service or product implementation and testing. What does that final product look like? Is it, and will it meet the needs of your consumer? If so be sure to gather data by testing service or products with potential customers.