Product Development Research
Product development research requires accurate consumer insights. At CARD Group & Insight, we have extensive experience in conducting market research that is critical to the development of both new products and existing products. From testing initial concepts to developing value propositions to effectively advertising new or updated products, we help clients with consumer insights at all stages.
Our experience includes gathering data and extracting actionable customer insights for packaging, service, delivery, brand and a company’s reputation. All of these aspects need to be researched in order to enable data-driven decisions.
Tapping into the consumer’s subconscious mind for accurate research insights
Product development benefits enormously from developing a very deep understanding of customers. At CARD Group Research & Insight, we use Discrete Choice Experiments to tap into the consumer’s subconscious mind to quantify their true priorities when making a decision.
Discrete choice surveys are structured in a specific way to bypass the conscious mind which is easily influenced and often provides superficial consumer thoughts. We access their own, true opinions. This information is quantified using a set of complex statistical models that understand subconscious opinions.
We discover vital customer insight, unmet consumer needs and other critical information to inform the marketing strategy and improve customer experience.
Our team is experienced in applying a range of product development models including Design Thinking, Choice Cascades and the Business Model Canvas.
New product development research
Market research is beneficial throughout the new product development process. From understanding the demand for a product to discovering which product features are important to the target market to positioning, pricing and marketing communications, market research informs the new product development strategy throughout.
The process of new product development (NPD) typically includes each stage as follows:
- Idea generation
- Product development research
- Idea evaluation
- Product concept development and testing
- Marketing strategy development
- Product development
- Product launch
Existing product development research
New products are continually being launched meaning that existing products need to be updated in order to continue to be competitive. A new product development strategy can lead to a revamp of old features or the addition of new features. The correct product development strategy will increase sales.
If you would like to find out more about how we use behavioural economics to access deeper consumer insights for product development research, or you are looking for a new market research company, please get in touch.
Let us help you progress further, faster.