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New Product Development :: Marketing Research Methods and Tools
What new product market research tools are most useful for for new product development?See also... Market Research Applications: Product Research
New product market research methods vary for stages new product development. Well designed marketing research leads to successful new product development and new product introductions. New products also require good product positioning, creativity, and fit with your current product portfolio, marketing strategy, and total business strategy.For new product market research, the question becomes one of matching the stage of new product development with the right creative or product market research method. Different product marketing information is needed at different stages.
So, let's first deal with the stages of new product development decisions. This table summarizes the thinking or decisions required at each stage. The actual market research methods and tools used may vary according to the product type, the extent of incremental change from other products, the investment and risk factors, and the costs of seeding the new product in the marketplace.
Product development is a sequential decision process. It's a series of decisions, not one. It is key, therefore, to concentrate attention on the precise new product decision at hand, and think through the market research and creative tools needed for that stage.
For more details on specific techniques see our Tools section or contact Power Decisions Group. We'll be happy to discuss your questions about methods and give you our views.
|Please contact us with your questions about the methods, use, and application of marketing research to strategy and marketing decisions.|
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