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Innovation & Product Development

‘Product development’ and ‘innovation’ are one and the same. Both are critical to the long-term growth of every company. Good new product development is on-going; evolutionary rather than revolutionary. As a result, new product development research can take place at any stage within the product development process.

 

The best new product development research explores what the market really values. By understanding the needs of the consumer, and going beyond their ‘product needs’, to think about more ‘holistic’ and ‘unstated needs’ we can help marketers and product developers across the globe to convert these issues into a package of benefits that resonate most effectively with consumers.

Below, we give some examples of how research helps at various stages of the new product development process:

  • Exploratory research is usually qualitative, and involves identifying and interpreting the habits, challenges, frustrations and desires of consumers. Qualitative techniques are particularly useful as we delve deeply into how consumers’ latent or unmet needs can be satisfied. Product development research can then be used to turn ideas into prototypes.
  • Once a prototype or first-phase sample has been developed, it is critical to return to the market and seek its reactions in order to refine and improve the offering. This stage may be repeated a number of times and may include some quantitative research.
  • As product release approaches, a combination of qualitative and quantitative research allows us to perfect the offering as well as devise a product release strategy.

To learn more about how our new product development research can impact on your business, please get in touch with your nearest Deep See office.

Looking Further. Seeing More.