There are variety of processes that need to be respected when Speyer purchases or develops real estate. There four stages the Speyer values the most in the new offering development process:
- Design: links the creation of new services or products to the corporate strategy of the firm.
- Analysis: involves a critical review of the new offering and how it will be produced to make sure that it fits the corporate strategy, is compatible with regulatory standards, presents an acceptable market risk, and satisfies the needs of the intended customers.
- Development: brings more specificity to the new offering and competitive priorities are used as inputs to the design (or redesign)of the processes that will be involved in delivering the new offering.
- Full Launch: involves the coordination of many processes and promotions for the new offering must be initiated, sales personnel briefed, distribution processes activated, and old services or products that the new offering is to replace withdrawn.