Product research (Product development – Product optimization)
Why do product research?
When designing product and service offerings the underlying question is which combination of features and characteristics will yield the greatest chance of success. In this connection, success does not necessarily mean maximum sales, but often economic potential.
Specifically developed survey and analysis methods can help determine preference structures of target groups in order to find out which products or services will offer the most promising opportunities for the company.
Benefits
Product research studies by Anovum can support you in marketing products and services that
- customers want,
- are competitive, and,
- are also economically optimal.
Uses
Product research is used, amongst other things:
- for the development of new, innovative products and services
- to optimize existing products and services
- to optimize a company’s own products and services after launches or re-launches by competitors
- to determine the importance of individual features and characteristics with regard to purchasing behaviour
- for needs-oriented segmentations in order to gear the company’s portfolio towards the requirements and needs of customers
- for analyzing potentials
Product research studies are often combined with pricing research studies.
Anovum uses a variety of methods for product research, including:
- Conjoint analyses
- MaxDiff / Best Worst Scaling > Further information
- Choice experiments
- Product acceptance testing / Concept testing
Case studies on product research (Product development – Product optimization)
- Product and price optimization: Landline, Internet, mobile phone and additional services B2B > Further information
- Innovation in electronic devices > Further information
- Optimization of product offerings and price elasticity: financial and insurance business > Further information
To find out more about product research please contact us.