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New product failure rates have varied from a low of about 20 percent to a high of 90 percent, depending on the category. Generally, about one third of all new products introduced in the marketplace do not meet company objectives. Superior value as perceived by a customer is a common denominator of most successful new products. Product developers and engineers who have a superior understanding of customer needs and the marketplace are more likely to introduce successful new brands, expanded services, and line extensions. By knowing buyers' preferences for various product features, products can be designed that produce the strongest preference among buyers while still being profitable for the seller. At MarketVision, we have deep and broad experience in new product development research. Using conjoint analysis, discrete choice modeling, and other multivariate techniques, we have helped clients identify market needs for some exciting and revolutionary new products. We apply the most sophisticated research design, analyses, and modeling to answer clients' product development questions and learn more about their markets, customers, and competitors. Our capabilities include assisting clients with:
- Evaluating new products and line extensions
- Identifying brand equity
- Measuring price sensitivity
- Forming market segments
We have also developed proprietary software, ProductScopeTM, for use with conjoint data to assess share potential. For more information on MarketVision's capabilities in Product Development Research, please email:
info@mv-research.com
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