New Product Development
- Are you planning on introducing a new product on the market and you are unsure who should be your target group?
- Do you have an idea for a new product, but would like to find out the consumers’ opinion before putting it on the market? Or maybe you cannot decide between a few concepts?
- Would you like to know more about the target group, so you can adequately position your brand? Do you want your brand to answer needs and expectations of chosen segments of consumers?
- Would you like to improve your brand performance by adjusting elements of marketing-mix (packaging, product, price, place, promotion) to your target group?
- Do you want to constantly monitor key indicators of your brand performance so you can quickly react to market changes?
New Product Development market research aims at minimizing the risk of error in the process of developing and introducing products. This is why NPD studies are being conducted at every stage of product creation – from idea generation, idea screening, concept development and concept test, to tracking indicators of brand performance. They enable successful planning, optimizing and monitoring of marketing strategy.
Uses for NPD studies
- Introduction of new products/brands to the market
- Changes in marketing-mix of current brands
- Expansion of product line
We offer an extensive range of NPD studies that we adjust to individual needs of every Client and category, but also to the needs of potential customers. New Product Development research includes exploratory studies, segmentation studies (U&A), image studies, concept, product and packaging testing, positioning studies, pricing studies, tracking studies…
Each marketing-mix element can be studied separately:
- Packaging: usability studies, blind studies and with revealed brand, shelf studies, distinguishing, influence of packaging on brand image, packaging shortlisting, packaging potential assessment, choice of the best packaging.
- Product: blind studies and with revealed brand, sensory tests: taste, scent, look, functionality assessment, product potential assessment, distinguishing, purchase intention.
- Price: price optimizing, defining the acceptable price margin.
- Place: defining and assessment of distribution channels.
- Promotion: assessment of advertising campaign throughout different stages: concept, reception, effectiveness, awareness, comprehensibility, distinguishing, influence of the campaign on brand image and purchase intention, campaign’s points of contact.
Marketing-mix elements can be studied jointly:
- Conjoint: study of product features configuration, choice of the best configuration.
- Market test: sales forecasting