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new product development

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Overview

New product development research lets you assess not only where the current product / service is in the product life cycle, but what attributes are most appreciated and what consumer elements are willing to pay a premium. It is important that you keep your portfolio of products fresh. Many businesses ensure that they have produced at least 30 per cent of their goods over the past five years. On an average, only 35% of new products are successful. So how do you make sure yours make the cut? We can help you design and launch products and services that outperform the competition by bringing consumer insight to the heart of the product development process.

From the outset, we partner with brands to help them generate ideas, and shortlist the right concepts to move forward. We work in close collaboration with clients to help them further refine, develop and test these to create marketing-beating products and services.

Solutions

Comprehensive Product Development services include

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    Proposition Development

    To help you build a genuine connection between your brand and your customers, determine and differentiate the emotional benefits that consumers see behind your product and services.

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    Product Concept Testing

    Identify the strongest concept(s) for further iteration and development to take forward.

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    Product Concept Validation

    Understand how your offering works with consumers so that before launching you can optimize it. Understanding consumer reactions is key to making sure products and services are both appealing and relevant to your target audience.

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    Product Testing

    Optimize your products and services to establish success for your business. Re-engineering or launching a new product or service could be tricky. Competition is fierce; gaining market share from established players is tough.

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    Pricing Research

    Find the optimum price point for your service or product. Determining the value consumers attach to new products or services can be difficult.

Benefits

Our services provide a unique range of benefits

  • Competitive Edge

    Organizations performing frequent product research do better in their segment and remain ahead of their competitors.

  • Innovation

    The relevance of product research also lies in the fact that it provides the reach of creativity that can aid in the creation of high-value technologies. This can also aid in the creation of a concept as well as organizational strategies.

  • Goal Endorsement

    Having specific strategic goals for the success of any goods or services is always a good idea. For instance, if the same product or service is given with no aim to succeed, then there is a strong chance that the company will take a back seat, or it may simply be left behind in the rat race.