Use New Product Marketing Research Methods that Deliver Results
A successful new product can not only build revenues, it can add to brand equity for a company. Many product development and marketing research tools are available for new products research, yet time, money, and opportunities are wasted if the wrong methodology is chosen given the current stage of product development.
To choose the best next step, first assess where you are now in the product development cycle. Different product development creative input or data is needed at different stages.
Here’s a quick way to get started: use the Product Development Tools table below. This table summarizes the thinking required at each stage of the new product cycle, and then connects each with the most appropriate tools and techniques. The actual 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.
New Product
|
Need |
Methods & Tools |
| 1. Concept Generation |
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Customer satisfaction research Idea generation Qualitative Research
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| 2. Concept Evaluation | Concept appeal Strength of component features Perceived value |
Concept screening tests in target Pricing and Value Research |
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| 3. Concept Spin-offs & Refinement | Capture fresh spin off ideas | Spin-off idea generationConcept testing — Round 2 |
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| 4. Quantitative Concept Testing | Measure concept strength Establish price points Market Size & Demand Estimates |
Concept testing Quantitative Attitude and Preference Survey |
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| 5. Proto-type Development | Design to chosen screened concepts Refine live product |
Product testing lab environment |
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| 6. Pre-launch Live Market Test |
Get live reactions to real product in real markets. Confirm Stage 4 estimates |
Beta test with key B2B customers Confined home-use test for consumer products Distribution tests |
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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.
 The Selection Matrix for the Best New Products Marketing Research Tools by Thomas R. Brown is licensed under a Creative Commons Attribution-No Derivative Works 3.0 United States License |
