New Product Development
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How to Measure the Appeal of a New Product Concept
Posted at: 2/10/2022 1:30 PM
For a new product to garner the right attention, it needs to be thoroughly reviewed by your ideal target market or those who will actually be using it. Especially with the rise of eCommerce, there is less of a hurdle for bringing a product to market. In fact, recent studies show that 40% of new products “pass the test” and make it to in-person or online shelves. As a result, there is more competition than ever before. Sure, it is easier to make your product accessible to everyone -- but is i
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15+ Product Concept Development Example Survey Questions to Steal
Posted at: 11/18/2021 1:30 PM
Product concept development plays a significant role in bringing a new idea to life. The feedback gathered from new product development market research should impact design, packaging, taste, pricing, marketing -- the list goes on and on. Whether you are conducting ad concept testing or comparing product packaging, online surveys are an excellent vehicle for collecting quick, in-depth, and cost-effective insights from your target consumer. However, in order to earn the best results, you must b
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What are New Product Demand Surveys? | Market Research Firm
Posted at: 9/16/2021 12:30 PM
Product development can be a tough process for many organizations and new business developers. Time is generally not on your side and nothing is guaranteed when taking a new product to the market. What’s worse is that you may dedicate significant resources to developing a physical sample or prototype before you really know enough information. Next thing you know, you have a full-blown dud of a product that never really garnered interest in the first place. How do product developers avoid this
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The Importance of Ongoing Research Through Pre and Post-Product Development
Posted at: 8/23/2021 12:30 PM
There is often more to a story than what you initially read. The same could be said for conducting market research on a new product. An initial market research study can provide excellent insights for your product, however, consumer attitudes and preferences change rapidly over time. Therefore, investing in ongoing market research studies throughout the pre and post-product development phases will help you better plan for your product’s future. Market Research for Pre-Development Phase 1
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How to Conduct a Beverage Development Market Research Study
Posted at: 8/17/2021 12:30 PM
With consumer trends constantly evolving, brands need to adjust their strategy and their products to keep up. Market research is a valuable tool for brands to ensure they are staying relevant in the ever-changing market. For example, one leading manufacturer of carbonated soft drinks partnered with our research firm to conduct a two-part taste testing market research study of a new product. In this case study, Drive Research outlines details of the beverage development market research study in
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Product Feedback Surveys: Definition, Example Questions, and Process
Posted at: 5/17/2021 12:30 PM
Product feedback surveys are a great type of market research to measure customer satisfaction and areas of improvement before or after launching a new product. It is the best approach to understanding exactly what customers think and perceives about your new business venture. In this blog post, our market research company will explore what product feedback surveys are, what they can be used for, and survey questions examples! Still in the initial phases of product creation? Read our blog post
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Product Positioning Surveys: What Are They and How Do You Conduct Them?
Posted at: 3/10/2021 1:30 PM
Wondering what a new product positioning survey is? Luckily you’ve come to the right market research blog. For the most part, the process for this type of market research stays the same as other methodologies. What makes product positioning surveys different from others is the sponsoring organization's project objectives. From there a market research company such as Drive Research designs and executes the methodology to best meet their goals. In this post, we’ll discuss the definition of a
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Is Market Research Necessary for Testing a New Product?
Posted at: 3/8/2021 1:30 PM
While market research can be used in various ways, it can be extremely beneficial when it comes to testing a new product or service. Here at Drive Research, we conduct new product development research to determine the potential successes and weaknesses of a particular product or service coming to market. Companies use market research as a kind of insurance to minimize the risk when launching a new product. Without a doubt, market research is necessary and the research conducted gathers valu
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In-Home Product Placement Tests: How They Work and When To Use Them
Posted at: 1/21/2021 2:05 PM
With the ability to skip an ad at a click of a button, it seems modern consumers are blinded by most advertising and marketing efforts. In-home product placement tests are quickly becoming a foolproof way for brands to reach their target audience in a less direct avenue. What exactly are product placement tests, how do they work and when is the best time to use them? Hang tight, these answers and more will be with you momentarily. Our market research company just finished completing an 8-w
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Product Prototype Surveys: What Are They and Why Do They Matter?
Posted at: 12/23/2020 1:30 PM
With any new product idea, it is crucial to determine the potential value your product may have and the impact it could have on the market before launching. This can easily be identified with product prototype surveys. There is a good chance that you have already conducted initial research on the product landscape. And, you have probably conducted extensive research throughout the development process for your product. That’s a lot of research! But don’t forget one of the most important steps
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What is the Kano Model in Market Research?
Posted at: 8/19/2020 12:30 PM
When developing a new product most entrepreneurs ask themselves, “What product features will offer the most return on investment?” If you find yourself in this exact situation - our market research company suggests using the Kano model. The Kano model is used to help new product development teams identify what features to prioritize and exclude before entering the market. It measures customer satisfaction (i.e., appeal versus importance) and considers the cost of the investment for each featur
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3 Tips for Product Development Research | Market Research Video
Posted at: 9/4/2019 5:56 PM
Whether you are an organization looking to introduce a new concept to the market or a tenured business needing to improve upon an already existing product, product development research is the first step to a successful launch. Many organizations rely on this type of market research to gain a competitive edge within their industry through informed decisions based on market opportunity and customer insights. While concept testing is necessary, it is even more so important to make sure your time a