New product development is a major investment of money and time. The stakes are high. That’s all the more reason to assess your new and current products to analyze such critical factors as product strengths and weaknesses, key features, pricing, customer expectations, and competition.
Maritz Research can help you minimize your risk, define the critical path to success, and maximize the opportunity. We offer approaches that help you at key points along the new product spectrum of development before you commit to the marketplace.
When you are reviewing a list of new product options and want to select the best to move forward with, how do you decide? With our concept screening approach, we can assist you in making a more informed decision. Our Concept Screening Viewer will help you make fact-based decisions about what new product ideas will appeal most to your customers.
Once you’ve identified the most viable product ideas, concept testing will determine the strengths and weaknesses of your concepts. We will introduce your target audience to the concepts, probe their thoughts—about features, benefits, and uniqueness—and uncover purchase intent. Through concept testing, we will identify how to capitalize on the strengths of each concept.
Our product optimization research approach enhances your product development process. During each phase of development, Maritz Research combines experimental design and analytical tools to help you examine the product tradeoffs.
It isn’t easy to determine the best price point to protect profit margin but still gain market share. Maritz Research will find the price point that is most appropriate for your product. Our pricing studies measure purchase intent and identify product features that your customers are willing to trade when it comes down to price.
Incorporating safety technologies as a standard feature in a vehicle is typically safe bet but must be weighed against consumer preferences for other features. This Maritz Research study uncovers how convenience technologies stack up against these standard safety features when it comes to consumer preference.
Marketers take obvious risks when pricing new productsor services, or changing the prices of existing ones. Setting price too high or too low will result in lower profits. Researchers have several ways to do pricing research, all of them imperfect. People spend dollars in surveys more liberally than they spend them in the real world (in the survey world, your wallet is always full and your credit card is never near its limit). Nonetheless, some pricing methods work better than others and a designed experiment (a discrete choice experiment) often works best.