A Holistic Approach
Do not just consider the “thing”, artifact, part, or component…but consider the whole. A knowledgable designer needs to embrace all aspects to make it a meaningful experience using the product.
Some Areas to Consider
Human Centered Design: Always put the user in the center and design around that.
The Environment: Where will the user be?
The Psychology: What triggers and/or motivates them?
Product Lifecycle: From manufacturing, the unboxing, to the end user, and even product end of life.