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Essential Steps for Effective Product Research

Product research is an important part of new product development that involves testing concepts and prototypes with customers to understand appealing features and benefits. It also provides information on competitors' products and packaging, which influences how appealing products are to distributors and consumers. Effective product research taps multiple sources like libraries, case studies, product engineers, focus groups, surveys, and test samples to thoroughly understand the market and ensure new products meet customer needs.

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7 views3 pages

Essential Steps for Effective Product Research

Product research is an important part of new product development that involves testing concepts and prototypes with customers to understand appealing features and benefits. It also provides information on competitors' products and packaging, which influences how appealing products are to distributors and consumers. Effective product research taps multiple sources like libraries, case studies, product engineers, focus groups, surveys, and test samples to thoroughly understand the market and ensure new products meet customer needs.

Uploaded by

Winona Elise
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Product Research

New products and new product ideas need to be tested on customers, sometimes at the concept
stage and sometimes as prototypes. Product research provides information on which features and
benefits are most appealing to customers, and can also provide information on competitors’
products. Packaging is further aspect of product research, since packaging provides some of the
benefits of the product itself. Issues here include the extent to which the product is protected from
the environment and vice versa, as well as the degree to which the design of the packaging appeals
to distributors such as warehouses and retailers as well as consumers. Product research is an
integral part of New Product Development.

Product research: identification and comparison of functional features and specifications of com-
petitive products.
How to Do Product Research

by Louise Balle

One of the most important steps in product development is conducting thorough research. Product
research is like a background check for a new product idea. The research process includes checking
on similar offerings already in existence and estimating the selling potential of the proposed new
product. When developing your new product, you'll need to tap a number of sources to find all the
necessary information to make informed choices.

1.

Visit your local library to find books, magazine clips and newspaper articles that provide insight into
the type of product you plan to release. For instance, if you're developing a new hair shampoo, learn
all you can about the hair care business and look for data about previous new shampoo releases.
This research might reveal specific ingredients or features that motivated customers to buy. It also
helps you gauge your competition in the market.

2.

Use case studies -- available for purchase from some online business services and educational
institutions -- to learn about other companies that have released similar products in the past. A case
study reveals the problems the company faced when releasing the product, as well as solutions and
the results.

3.

Employ product engineers -- available on a contract basis -- to review your product design and test
your prototypes for quality and usability.

4.

Hire customers from your target market for focus groups. One of the most effective ways to
research a product’s potential performance is to obtain feedback from people who would be most
likely to buy the product when it hits the market.

5.

Survey potential buyers on the product’s viability. Provide them with a profile of the proposed
product, including features and benefits, and ask specific questions about their interest levels.

6.

Manufacture testers or samples of the product and pass them out to a small group of people to get
feedback. Use these testers at your focus groups or when taking surveys whenever possible.

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