New Product Development
Who would use this service?
- Manufacturers of branded and own label products
- Departments include: QA; R&D; NPD, Marketing
New product development can be an essential part of a business and their strategies; however it can also be an expensive and timely procedure if the background research fails to deliver comprehensive results.
A business may be looking to introduce a new product, test potential ideas, or refine an existing product and having insight is an essential element of the product development process, whether it be market or customer led.
Assosia have a wide range of services to aid your new product development; which include consumer insight and retail market research.
Consumer insight is an integral part of the new product development process. Consumer insights provide a conversation between the brand and company. The conversation provides the thoughts and behaviours of the target customer, meaning the product developed can encompass these desired values. The insight can be achieved through a variety of means including face to face data collection and A/B Testing.
Alongside consumer insight, retail market research is also an important element of new product development. This research monitors industry and market trends, which help to provide insight and information for the development of new products and services, by highlighting gaps in the market.
The background market research Assosia delivers provides guidance and solutions on a number of frequent new product development steps:
- testing the viability of a new product concept
- refining the design and structure of the new product
- modifying an existing product
- estimating the potential size
For all clients regardless of the product or service they are looking to develop, Assosia will follow the five step development process below,
- Idea Generation
- Idea Screening
- Concept development& testing
- Business Analysis
- Market Testing
We are confident that this process will deliver comprehensive insights into the product and how it will be received by both consumers and the market.
If you are interested in finding out more about our new product development process and how it benefit your business please contact Kay Staniland on +44 (0)1708 444840, or by emailing services@assosia.com.