Episode 13: The Importance of Product Development with Jae Pyon
What You Will Learn:
- How to make product development a priority
- How to mitigate costs in development
- How to narrow focus your product for success
In the latest episode of GWP’s Constructing Brands podcast, we explore how the importance of exceptional product development and a “Focus Strategy” can grow your company. Jae is the President and Co-founder of Durato. Durato has developed superior flooring material that has been gaining popularity with contractors, architects, and developers nationwide. Jae walks us down his path to success, sharing industry insights, tips for identifying your target market, and how to position your product to meet your industry’s needs.
Make product development your priority
Jae’s years of experience have shown him key business insights: developers and contractors are looking for quality, sustainability, and low costs. Jae walks us through creating a “Focus Strategy” that delivers quality materials directly to your target, cutting out the middleman, and mitigating your costs. In this episode, Jae makes it clear that identifying your niche and executing your “Focus Strategy” is crucial to your success in the building materials industry.
Positioning your product for your target
When you make product development your priority, you are free to focus on positioning your product perfectly for your target. In this scenario, Jae’s target is to sell directly to developers and architects. With this in mind, he focused on designing his product to meet a need in their industry. His target audience looks for low cost, sustainability, and quality. Durato offers products that do just that. Oftentimes new construction is more exposed to the elements; UV exposure from uncovered windows, uncontrolled climates due to uninstalled HVAC units, and above-average wear and tear from high traffic areas. In almost all new construction, flooring is the last piece to be installed, with Durato’s product this can now be a thing of the past. Durato offers a product that can stand up to all of the harsh conditions of new construction, allowing flooring to be installed at any point in the process, and at a low price point due to selling directly to contractors and developers. When you focus on product development to specifically answer the pain points in the industry, growth, and success will follow.
About Jae Pyon
Jae graduated from Hofstra University with a degree in Biology. Jae then began a nine-year career with the United States Army. Jae transitioned into corporate leadership roles at AstraZeneca, Target, and Amazon. It was finally in 2014 that Jae came into his current role as the President and Co-founder of Durato International, focusing on developing flooring designed for the heavy commercial new construction segment. During this time, Jae developed both V-EVO and NüWüd brands with Durato.