New Product Development

  • Why Focus Groups Are Important for New Product Development

    Why Focus Groups Are Important for New Product Development

    Producing a new product is a time-consuming process that requires research and development (R&D) on a deep level. While the initial idea for the product can come internally from asking the right questions, it is not enough. You have to go beyond the ideas of your team and collect insight from the people who matter most: your target market. Market research for new product development can act as a gut check for what you may think is an ingenious product or service. Research can showcase how succ

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  • sensory-product-development-market-research-04252019

    Benefits of Sensory Testing in Product Development

    Organizations often depend on product development to stay competitive within their industry. A common market research methodology used in product development is sensory testing. I've got to admit, sensory testing sounds like some mythical market research approach. It's actually more straightforward than you might think! Wondering what sensory testing is? How sensory testing is used? Or, what the benefits of sensory testing are? You have come to the right market research blog! Utilize these

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  • product-market-research-retail-07252018

    Product Market Research | Manufacturing, Retail, and More

    Product market research is essential to the success and growth of an organization. It comes in many shapes and sizes both qualitative and quantitative. Qualitative may include methodologies like in-depth interviews (IDIs), focus groups (both in-person and virtual), or small samples of mobile ethnography. Quantitative options include online surveys, phone surveys, in-home usage tests (IHUTs), and many more. Objectives or product market research can span far and wide as well. In this post we cove

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  • Testing-new-concept-market-research-06222018

    5 Tips When Testing a New Concept | Product Testing Company

    Is there anything more fun than testing out a new product? It is almost like a sneak peak or insiders view of a product, service, or concept before the general public knows about it. Product testing is a foundational piece of market research. A variety of feedback can be obtained from a product test. This includes items like potential appeal and demand, barriers to usage, likelihood to purchase, uncovering issues, and discovering drivers to satisfaction. Want some insight as to how the process

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  • New Emerging Methodologies in Market Research

    6 New Emerging Methodologies in Market Research

    Wondering what's trending in the market research industry? You've come to the right blog! In this post, we put a spotlight on 6 emerging methodologies in market research which include: Social media analytics Text analytics Mobile ethnography Research gamification Sensory testing Crowdsourcing Some of these methodologies you may have already heard of, others maybe not. Either way, our market research company in Syracuse, NY that serves clients across the country can define each with examples f

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  • components in new product development market research

    3 Components in New Product Development Market Research

    Concept testing and new product development is one of the more common reasons for the commissioning of market research. Whether it is proof of concept or a new product development company looking to confirm demand for a new concept to acquire financing and investments, it's requested a lot. "New" is the great unknown. So many lean on market research to help eliminate risk and provide insight into potential demand. Although the scope and methodologies may be unique to each type of new product or

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  • product fail market research help

    5 Product Failures from the Last Decade (Or So) and How Market Research Could Have Helped

    One of the most common types of market research (and arguably the most exciting) is when data is collected around a new idea, concept, or project. This new product development research is often highly confidential and proprietary and it requires research participants to sign waivers and confidentiality statements. The market research is aimed to collect feedback, test demand, and make improvements to a product or service before it hits the market. So as you read these you may ask yourself, what

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  • limitations with eye tracking emotion tracking market research

    3 Limitations with Eye Tracking and Emotion Tracking Market Research

    No matter what market research or data collection methodology you choose, it comes with limitations. Those who attempt to claim their new technology, approach, or methodology to collect data from consumers come without flaws, is misguided. Choosing the best methodology depends on your unique needs as a client. One innovative and growing technology used in the market research field is eye-tracking or emotion tracking tools. These are particularly popular in the retail field as big-box retailers

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