“It’s alright to be Goliath but always act like David.”
– Phil Knight, co-founder and chairman of Nike, Inc.
Your audience can tell you exactly where you need to go with production development and innovation. That’s why input from target audiences is a basic requirement as products move from needs identification to ideation to working concepts.
Our strategic market research can provide needed guidance at every stage of the product development lifecycle.
Knowing how a potential product aligns with customer needs, pain points, and competitive perceptions is essential for successful offerings. For example, we find that technology vendors frequently have more than 50 features that they want to develop and promote for a new offering. Product teams and engineers must know how each of these features will impact product differentiation, consideration, and acquisition. Sometimes the most expensive features to develop demonstrate the least amount of impact.
Our proven qualitative and quantitative practices and techniques can identify which potential concepts or features will best address customer needs and what optimal product or service configuration will capture the greatest market share.
Research areas of expertise:
- Concept testing
- Feature identification and prioritization
- SKU development, licensing
- Pricing, value proposition
- Product cannibalization