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How to Waste a Trip to Bentonville, Minneapolis or Mooresville

Preparation Isn’t Enough – You Need Consumer Voices Behind You

How to Win Respect, Shelf Space and Market Share

Target Your Efforts!

By now, your company likely has a large number of new product concepts and designs slated for Spring introduction. Which will succeed? Which will fail? What would happen to your profitability if your hit rate rose 50%?  What if it doubled?  Tripled?  How much money would you save by eliminating half of the failures now rather than after they are tooled and production orders are placed?

 

Are your New Products Insured to Succeed?

Given the cost of product development today – design, development, tooling, initial production, shipping, support materials, sales and admin expense and the potential cost for taking and liquidating returns on failed products – how can you afford not to spend $1000 to prevent a product failure?  Market research is cheap insurance and it’s the only insurance that you want to see a return on!

Keys to Successful Product Development #12 – The Right Price

How does your company set its prices?  Cost plus?  Price to market?  Some combination thereof?  We are often asked to conduct research to find the right price.  Sometimes price is the sole challenge and sometimes price is part of the larger puzzle.  Regardless of context, getting to the right price can make or break a product’s success.

Keys to Successful Product Development #11: Color Segmentation

By now, with 10 keys to successful product development shared, we hope you have thoroughly explored all the various frameworks through which you can understand your consumers.  Now it’s time to start linking consumers to products.  By that we mean linking consumers’ visual preferences to the products they purchase.  We started in this direction in an earlier blog on Design Segmentation.  This entry takes it a step further with Color Segmentation.

Keys to Successful Product Development #10: Psychographics

You’ve done your homework and have a good understanding of the demographics of your consumers via consumer profile studies.   Perhaps you’ve also studied your category and have working knowledge of your competitors’ demographics as well.  The factors that describe your competitors’ customers might also fit yours.  You may well be servicing the same consumer.  Yet some of those consumers are buying your products and some are buying your competitors’ products.  There is still something different about them.  Psychographi

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