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Upgrades: The Holy Grail of Aftermarket Profit

Different from the break-fix service business in which customers are paying you to keep the systems running per their original specifications, the upgrades business is one in which they pay you to make their systems do more than they were originally capable of doing....

How to Harvest the Break-Fix Annuity

When capital equipment breaks down, it requires fixing. This cycle of breaking and fixing is what creates the “break-fix” annuity for capital equipment suppliers. The components of the break-fix annuity include: Replacement and consumable partsSoftware bug fixesRepair...

Aftermarket Strategy: The Ultimate Guide

It was King C. Gillette’s idea to “give the razors away but charge whatever traffic will bear for the blades.” This became known as the “razors and blades business model.” While capital equipment providers cannot afford to give their systems away, their aftermarket...

Secrets to Successful Cost Reduction

Within moments of giving birth to your new product, you were told by senior management to begin reducing its cost. So, your team shifts into a cost-reduction mode and begins sorting the product’s sub-assemblies by their material cost, attacking those at the top of the...

How Effective is Your Platform Strategy?

Have you ever noticed that some capital equipment companies seem to be able to develop and deploy new products faster than others? Have you noticed that those same companies also tend to produce a steady stream of very profitable upgrades for their installed base?...

The Roadmap Six-pack

Product roadmaps represent the steps that you will take to implement your product strategy. They describe where you’re headed and what products will be introduced along the way. They are used to guide and to synchronize your company’s efforts. To be effective, your...

The 3 Phases of Product Strategy Development

Have you ever run into something like this? The CEO walks into your office. He says, “We need to submit our strategic plan to the board next month. Can you canvas the senior staff and put something together?” Or this: It’s the weekly senior staff meeting, and you just...

What is Strategy?

Every business has pressing issues, but which ones are strategic? Are falling sales a strategic issue? What about rising material costs? What about a new competitor? Perceptions of exactly what constitutes strategy can vary greatly, even among a single management...

MRD at Work Case Study

A Tekcess International client had been developing a new piece of process equipment for the semiconductor industry. The technology was novel and had generated a lot of “tire kicking” from prospects. However, after several years of product development and dozens of...