These steps show when product research may be needed to increase the probability of optimum decisions and successful market impact:
Effective product market research -- for new products and exisiting products -- is well integrated with R&D and technical product design functions. For consumer or business B2B product market research, we take a global approach, incorporating appropriate market research at each design stage: The goal is to align astute technical product R&D, product innovation and design with market demand. We include in our services the following new product development and research services :
For new product development market research, the question becomes one of matching the stage of new product development with the right creative or product market research method. We use the Marketing Intelligence Platform to guide the use of the three forms of Intelligence --Ideas, Data, & Drivers -- to the product development process. We provide consulting and specific new product research market research capabillities at each new product development stage.
Product development 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.
As marketing strategy consultants, our firm will work with you and your company and management team in a professional product launch, branding research, or market sizing or targeting engagement. Since each client company or firm is unique with its own set of issues and opportunities, we often begin our relationship with a decision identification and clarification engagement – what we call Decision Mapping. This identifies the most relevant problems, opportunities, and issues most relevant, and serves to clarify the decision agenda. We believe this is a crucial step to ensure as consultants to your company, that our research or marketing strategy engagement meets your specific management requirements. Further, saves both time and money as it sharpens focus as to the exact work which needs to be accomplished in our remaining consulting or market research work for your company.
As experts and specialists in marketing and market research, we are well qualified in these strategy arenas: positioning, segmentation, product launch, new product development advertising strategy, corporate and product naming, company branding, brand equity measurement, pricing, brand development, brand strategy, product concept testing, identifying opportunities, and targeting positioning.
Our consulting company has deep experience working with large and small firms, although typical clients include Fortune 500, Fortune 100, or middle market companies. Our team members have been involved as executives and board members of technology venture start-ups, conducting research and assessments used by private equity, and venture capital firms.
First, we are not industry specialists or experts. Our philosophy is that we bring a tool kit of analytical and management skills to the table. You bring deep industry knowledge of your business. The blending of our functional and management expertise, and your knowledge of your own business and industry, makes for a productive decision-focused engagement.
Our healthcare marketing strategy and market research practice includes market research studies for hospitals and healthcare management companies. We've conducted patient satisfaction quantitative studies, hospital and medical center image studies, advertising research and services delivery research. Healthcare marketing research requires a special sensitivity when talking to consumers especially in qualitative studies where life issues often reach deep to the core of emotions of patients and family.
Marketing due diligence research provides stand-alone market research assessments. With primary and secondary research we uncover how a company fares in the marketplace as an investment target. We assess customer satisfaction, brand position, value proposition, and marketplace performance in the eyes of colleagues and analysts covering the trade and industry; and among customers and other key stakeholders that affect market share.We tailor each marketing due diligence research study..
Our focus is on the decision parameters most important to investors. Some studies are conducted using depth interviews of industry players; others by phone or online market research among customers or prospects of the target company. Whatever the tools and techniques, we work closely with the VC partner or project director to ensure that we uncover the essence of the target's marketing positioning and effectiveness. This permits the Venture Capital firm, our client, to have the best possible information for the venture decision.
For implementation, we understand that "time is of the essence" in evaluating most deals. Thus, we work 24/7 on VC projects to deliver quality data quickly. For fast turn studies we can deliver top line analysis in 10 days or less.
Power Decisions Group is especially well qualified to work with VC private equity firms. We've been there. Our principals have been CEO's, and board members of technology spin-offs and start-ups. We bring this experience to the table as we assess and interpret our primary marketing research data.