NEW PRODUCT DEVELOPMENT (NPD) RESEARCH

Launching a new product or service can be risky, but we can provide the insights to help you succeed. 

Our new product development market research services will help you enter the market prepared with all the facts and research that will get your company off the ground and headed in the right direction.

 

We use a combination of desk, qualitative and quantitative methods and can add value at every stage of the product development process. These services include: 

  • Idea generation and brainstorming workshops 

  • Market context, macros trends and customer preferences

  • Customer demographics 

  • Target customer segmentation

  • Validating customer needs

  • Identifying quick win opportunities 

  • Concept testing: reactions, likes, dislikes, appeal and purchase intent 

  • Price sensitivity

  • Name, packaging and marketing pre-testing 

One approach that works very well for price sensitivity insight is the Van Westendorp method.

With this approach, respondents are asked four open ended questions are invited to say at which point a product / service is: 

  • Good value

  • Getting expensive 

  • Too expensive to buy 

  • Too cheap to consider

 

Responses to these questions are then plotted to identify optimum product pricing and illustrate how perceptions change at different price points. 

If you would like to know more or have a project in mind, please get in contact. We will be happy to help. 

© Advantage Market Intelligence Ltd.

14 Park Row

Nottingham

Nottinghamshire

NG1 6GR

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