Product development marketing research serves several goals: new product design and market validation research, or assessing existing products. The goal — and your overall positioning and market strategy — drive our product research design.
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 existing 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:
New Product Development Stages
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 capabilities 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.