New product development suite by Investzoom

Despite of the economic downturn, there is never bad time for any manager to envisage ways of delivering better value to their clients. The time of recession might be even better for this.

For Investzoom Market Research new product development programmes always has been and is the cutting edge of its marketing intelligence activity. Please find below the core area of our expertise by the following research programmes’ components:

Segmentation of the product development process

The development process of any new product on any new market is rather time consuming, and we are talking about real impact to the market, not the one time commodity trade.

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The research for new product category

As the common fact is, any issue regarding branding, brand equity, brand essence etc. is strictly connected with existing category of product. You cannot examine brand connotations or drivers for brand selection if this category of products/services does not simply exists.

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New market positioning research

Market positioning research programme consist off some branding, awareness and segmentation components. This might be an integral part of New Product Development programme, however, this approach may be also used for any other concepts.

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New product development research cycle

In light of this the initial assessment and workshop is crucial, in order to understand precisely the recent product development cycle. Only in such a case the creativity of our locally based research team might be useful for study designing and implementing.

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New Product Category Market Research

The creative power for new market space or category for winning products:

As the common fact is, any issue regarding branding, brand equity, brand essence etc. is strictly connected with existing category of product. You cannot examine brand connotations or drivers for brand selection if this category of products/services does not simply exists. In some case there is no point to try discover what has been discover long time ago by other businesses, however it might be very vital, even to update yourself, if there might be the right time for the completely new category or pace of products/services.

In such a case you might become the ‘category maker’ and benefit from the most powerful strategy creating a strong and defensive market position. Please find below some shortlist of thinks you need to be familiar with.

  1. When you have created the category be sure you would posses it!

    2. The fact is, creating new category or niche might bring high investment costs. However, if you would succeed with this issue, be certain you will own this category, being benefit from the pioneer market position. Also owning the category, means slightly high ROI from the marketing impact.

  2. Categories live in customers’ minds.

    3. The fact is, unique categories of products/services live in customers’ minds much longer time than brands. The other interesting customers’ behaviour is, they first recognise the product/service category in general, than any brand if it is linked to the specific category.

  3. New product/service category helps to bring in (or bring back) ignored or lost customers.

    4. If you have a chance to listen to the voices and opinions of previously ignored and lost customers only because you have created new product category, you have more chances to retain them.

  4. Well established competitors are influencing your business.

    5. There might be a large emerge of the new category building task, when competitive players are seemingly immovable in the old category.

If you have a chance to redefine your products completely upside down, this might be the seedbed for innovation change management opportunity. In case you are certain (after the research insight) than the new category of product/service you intend to create, definitely will be complementary and consistent of what you are doing now, you might win new pace of market share. This is also might be very helpful if any external investor is concerned, by presenting more flexibility of your venture or forecasting some new boost in marketing of your products.

Feel free to contact us as market research agency for RFQ or further details of this market research programme