Product Development and Proposition Testing Market Research
We have extensive experience of research to develop and market test new products and propositions, ranging from financial products to crisps and kitchen utensils!
Our experience includes:
• Research to inform development of new products by understanding customer needs and wants.
• Research to develop and test product concepts.
• Research to measure potential demand and market test new products and propositions.
• Research to examine the competitive landscape for new products.
Our team has carried out consumer and B2B product and market testing research for a diverse range of clients including DuPont, Remploy, Huntsman, and Ufi/Learndirect.
The list of products and services that we have researched is diverse, with examples including:
• Various financial products such as specialist personal and commercial insurance.
• A broad range of consumer propositions from kitchen utensils to a barbeque fast food franchise.
• Business to business propositions such as specialist services aimed at Human Resource Directors.
We typically use a staged approach to product development market research and testing research:
Stage 1: Qualitative research with the target market, using interactive and projective techniques to generate ideas and understand needs:
Stage 2: Qualitative proposition testing to examine the appeal of proposition elements and benefits – can also identify ‘hooks’ that should be used in positioning the proposition:
Stage 3: Quantitative market assessment to measure the appeal of the product (overall and for specific proposition elements). It is also important to build in segmentation to identify most interested market segments and help targeting and tailoring the proposition.
In addition to the primary research stages outlined above, we also often carry out initial desk research to put the findings in context – e.g. by understanding the size and dynamics of the market, and the competitive landscape.
We have carried out product testing research both in UK markets and numerous overseas markets.