Use Case

Product Development

See your product through your target audience's eyes. Identify the most impactful features, uncover your distinctive edges and create products that your customers will love.
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Here's why you need a Product Development strategy

Product development studies are like market reality checks. They make sure you're building what people actually want, cutting down on mistakes, and giving your product a real competitive edge.

Advantages of market research in Product Development

  • Hero-Icon_People
    Stay relevant by developing products that align with the needs and wishes of your target audience.
  • Hero-Icon_Driver-Barrier
    Identify and mitigate potential issues early in the process and reduce the likelihood of costly product failures.
  • Hero-Icon_Environmental
    Identify areas of growth and improvement to guide strategic decision-making effectively and stand out in a competitive market.

Methods to include in your Product Development

Concept Testing

Create products with confidence by testing your concept

Before taking your product or service idea to the market, validate it with your target audience through concept testing. Get to know what your audience desires and co-create in shaping the perfect solution.
Learn how to test your concept
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Conjoint Analysis

Elevate your product portfolio with Conjoint Analysis

Create products that customers love, optimize pricing strategies for maximum profit, uncover niche markets, outsmart competitors, and make decisions that minimize risk.
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Guide_StepbyStep

MaxDiff Scaling

Master feature prioritization with a MaxDiff Scaling

Elevate your product game by using a MaxDiff Scaling. Know exactly what your customers wish for, strategically prioritize features and craft unbeatable product configurations.
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KPIs to measure

  • Hero-Icon_Awareness

    Customer Satisfaction Score

  • Hero-Icon_First-Choice

    Competitor Benchmarking

  • Hero-Icon_NPS

    Maximum Reach Potential

  • Hero-Icon_Operational-support

    Unique Audience Reach

  • Hero-Icon_Dashboard

    Optimal Feature Mix

  • Hero-Icon_Health-1

    Net Promoter Score

  • Hero-Icon_Flexible

    Feature Ranking

  • Hero-Icon_Cost

    Price Sensitivity

Essential Product Development questions

  • For prioritizing features

    What are the expectations of different target groups regarding the product features? Which new potential features should be prioritized for implementation?

  • For allocating your resources

    What is the potential market size, and is it worth pursuing? Which retailers should I focus on for distribution to reach the largest number of potential customers?

  • For beating competitors

    Who are our main competitors, and what are their strengths and weaknesses? How can we differentiate our product from competitors in the market?

  • For consolidating your pricing strategy

    How should we price our product to maximize profitability and competitiveness? What pricing models or strategies align with customer expectations?

  • For assessing risks

    What are the potential risks and challenges associated with our product or idea? How can we mitigate these risks effectively?

  • For consolidating your customer base

    Who are our target customers, and what are their specific needs and preferences? Are there distinct customer segments that we should tailor our product to?

Product Development explained (TO BE REMOVED)

  • The purpose of brand tracking is to get data-driven insights into a brand's performance parameters and empower decision-making from the selected target audience's perspective
  • Ways to track brand awareness include measuring advertising effectiveness through online surveys, top-of-mind awareness, unaided brand recall and aided recall.
  • The stages of the branding process include conducting market research, defining the brand identity, designing and developing brand assets, launching the brand, and ongoing brand management and evaluation.
  • Brand monitoring works by tracking the mentions of your company/brand over various channels to identify if the perception of your brand is consistent on different platforms.
  • Brand lift studies help you understand how specific ad campaigns impact consumers' perceptions of your brand. They measure brand perception in the moment, as opposed to a brand tracker study that measures brand perception over time.

More use cases & methods

Develop and improve your product portfolio with these product developments methods

Innovation

Concept test

How to find out strengths and weaknesses of new product ideas in 4 steps.
Read more

Innovation

Conjoint analysis

Exceed customers' expectations by offering the perfect combination of features at the right price point. Some call it "mind-reading", we call it "conjoint analysis".
Read more

Innovation

MaxDiff scaling

Sure, you love your product. But do your customers? Ask your target group and find out which features and product characteristics they value the most.
Read more

Innovation

Kano method

Find out what features affect customer satisfaction the most to wow your audience and avoid spending time and money on the wrong things.
Read more

Innovation

TURF analysis

Expand your potential target group by determining which product portfolio, marketing mix or product variants appeal to the highest number of customers.
Read more

Strategy

Pricing analysis

Maximize profits by asking the right questions. How much are customers willing to spend on your product? What’s the optimal price point?
Read more

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