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Keys to Successful Product Development #3 - A Case Study in Product Proliferation Through Visual Design Segmentation

In our last blog, we discussed ways to grow sales from your most successful products.  We explained that there are two key ways to grow sales of a successful visual design; by going deeper into that design niche or by expanding your product’s visual appeal to encompass the tastes of consumers in related design segments.  Here we offer a case study that explains how we used consumer research to build a new collection that enjoyed cross-segment design app

Keys to Successful Product Development - #2 Product Proliferation

No matter what product category we work in, we always find consumer segments that react differently to new products or concepts (which, in and of itself, is a great reason to do research - to identify the consumer for each of your products.)  Your retail partners will be impressed that you know that and , if your research shows that your consumer is different than your competitor's consumer, they will likely reward you with shelf space, maybe even your competitor's.

Keys to Successful Product Development, Edition 1- Create the Right Amount of Products

 

All too often we see clients with high expectations who introduce new products to see them fail.  Statistically, failure is likely -- only 20% of new products succeed.  Your odds may be better in Las Vegas!  But you know your company must go on and you know your retailers want new products - that's an unceasing demand.  So what to do?

Start Product Development in Consumer Homes, Not Conference Rooms

How does your team kick off a new year of product development?  With a review of existing products looking for small gaps to fill?  With color changes or new packaging?  A new size?

Or do you really start from scratch by identifying unmet consumer needs to fill with unique new products?

The classic approach to new product development starts with identifying unmet needs and then designing products to meet those needs.  Do you think your category is fully meeting consumer needs?  THINK AGAIN.

Use Consumer Research to Sell Your Products In

A significant portion of the research we do today is dual purpose:   1) It identifies the products consumers want most, the products that will sell in the marketplace  2) it drives the sales pitch with key retailers.

Traditionally, market research has focused on identifying compelling consumer products; the right products at the right prices with the right packaging and the right promotions.  We do this every day using proprietary, statistically proven mechanisms that identify top sellers while weeding out weaklings that should never see a shelf.

Color Trends from The American Living Survey™ by Design Research

We recently presented research from The American Living Survey™ (TALS), an ongoing study of American homes, interior design, décor, styles and lifestyles, at the International Home + Housewares Show.

Kent Panther, Vice President, Director of Business Development for Wray Ward, attended our presentation and posted the highlights of the presentation on his blog:

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