New Product Development

  • little red rocketship launching

    6 Factors to Consider Before a Product or Service Launch

    So, you have a product idea. Before you jump into manufacturing, there are a few factors to consider that could ultimately impact your sales when launching a new product. For context, studies have shown that the failure rate for new products is as high as 70 to 80%. Even the largest brands have a product miss from time to time -- we're looking at you Life Savers soda and Cheetos lip balm. Thankfully, there is something brands can do to avoid this… Market research! Teaming up with a third-

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  • Blog: How to Measure the Appeal of a New Product Concept

    How to Measure the Appeal of a New Product Concept

    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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  • Blog: Product Concept Development Survey Questions

    15+ Product Concept Development Example Survey Questions to Steal

    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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  • Blog: What are New Product Demand Surveys? | Market Research Firm

    What are New Product Demand Surveys? | Market Research Firm

    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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  • Blog: The Importance of Ongoing Research Through Pre and Post-Product Development

    The Importance of Ongoing Research Through Pre and Post-Product Development

    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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  • Blog: How to Conduct a Beverage Development Market Research Study

    How to Conduct a Beverage Development Market Research Study

    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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  • Blog: Product Feedback Surveys: Definition, Example Questions, and Process

    Product Feedback Surveys: Definition, Example Questions, and Process

    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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  • Blog: Product Positioning Surveys: What Are They and How Do You Conduct Them?

    Product Positioning Surveys: What Are They and How Do You Conduct Them?

    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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  • Blog: Is Market Research Necessary for Testing a New Product?

    Is Market Research Necessary for Testing a New Product?

    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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  • product-placement-market-research-04102019

    In-Home Product Placement Tests: How They Work and When To Use Them

    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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  • Ultimate Guide to Ad Concept Testing Surveys

    Ultimate Guide to Ad Concept Testing Surveys

    Ad concept testing surveys are like taking a test drive before purchasing a car. Buying a car is a large investment, so the vehicle must meet all your expectations. The same can be said for marketing and advertising campaigns. Would you purchase the vehicle if you had to guess what the gas mileage would be, if you had to guess what the color of the interior was, if you had a guess what features your family would want for your trip across the country next summer? Probably not. So why would

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  • Blog: Product Prototype Surveys: What Are They and Why Do They Matter?

    Product Prototype Surveys: What Are They and Why Do They Matter?

    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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