New Product Development Research
New product development research helps organisations prepare and launch new products or services and delivers insight into market needs, detailed perceptions of the new product/service, advice on required changes, launch strategy, and potential sales demand.
Through field trials, focus groups, one-to-one testing or surveys, we gather market views on:
- Market readiness for the product
- Strengths and weaknesses of features
- Ease of use
- Likely uptake compared to current known products/services available
This research provides the market insight needed to make informed product launch decisions, including possible changes to the product, positioning, pricing or even launch viability.
Pricing Research
One of the most tricky issues for a business, especially when launching a new product or losing ground to competition, is pricing.
This research is essential when reviewing existing pricing strategies or launching new products to market, ensuring your price strategy is aligned with market demand and expectation. We:
- Analyse changes in supply and demand and how those changes affect pricing
- Investigate trade-offs between price and quality
- Compare your pricing to that of your rivals
- Provide insight into whether your products and services are competitively priced or if you are over- or under-priced
- We conduct tailored research to test price sensitivity across different customer groups, providing an assessment of the potential impact of pricing at various levels
This works best when combined with a competitive assessment of the marketplace and customer motivations.