What new product market research tools are most useful for for new product development?

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.

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. .