New Product Development

The precursor to effective new product development is to generate viable consumer insight. This can be tested with further research or validated against real consumer behaviour from market performance studies underpinned by real market data and trends. The validated hypotheses generated from the insight research can then be used as the basis for concept generation. The Target Practice is able to assist with this by facilitating creative sessions within the clients staff or agencies.

No beauty parades . . . .

Having developed worthwhile concepts it is a mistake to then think that testing is just a matter of "beauty parading" the concepts before a balanced set of consumers and choosing the apparent winner. If this was wanted then there are various mini-quantitative panels or npd omnibus panel approaches being offered. To do it this way negates the value of true interactive testing where the meaning, understanding and reactions to the concepts are explored in depth.

Joined-up Research . . . .

Such a joined up approach often uncovers unrealised innovation potential in what otherwise would be apparently less-likely to succeed concepts. These developments can have the real power to change the face of the market - breakthrough new product development, not stepwise development.

 
 

 

 

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Date page last updated - 1st December 2000