Over a third of new products fail and this is a conservative estimate. Even the most innovative products sometimes fail and there is a myriad of reasons as to why they are unsuccessful in the marketplace. But we are convinced that failed products have something in common: the value they may bring are not easily recognised by customers.
For that reason, we work with our clients to unveil latent and explicit customer needs and wants. We revise their existing product development strategies, gauge demand for new products, and help bring distinctive products to the market in the right way.
There are many stages involved in the development of new products and each stage is vital to launching successful products. We therefore help our clients critically review their current product development strategy to identify how best to optimise it. This takes place through a series of workshops, leadership interviews and diagnostic surveys. Additionally, our consultants fully immerse themselves in the product development processes of clients by performing project deep dives.
Customer research and feedback must be an integral part of product development processes and consumer needs must skilfully be translated into product features. To decode consumer demand, our teams use various research methods and statistical techniques, such as hall tests, ethnographic market research and conjoint analysis. In doing so, we produce valuable insights and help clients adopt a customer-centric approach to product development.
Furthermore, we investigate the competitors of our clients paying particular focus to their existing product portfolios. We perform a comprehensive assessment of both the positive features and shortcomings of products presently available in the market. This allows us to better understand consumer purchasing habits and behaviours in order to help clients build unique and innovative products.
We ultimately help our clients recalibrate their products and put customers at the heart of their product development. Our consultants help clients focus on the right segments, tailor their products to consumer preferences, and differentiate themselves from the competition. By studying the successful and failed launches of products that are analogous to those of our clients, we help mitigate the risks involved in bringing new products to market.
Our clients see improvements in the following areas.
Learn how to differentiate your products, carve out your space in the market. Set your products apart from your competitors.
Know your customers, let unmet marketplace needs pull your products along. Build products that resonate.
Make use of resources more efficiently in your new product development processes. Minimise expenses, maximise results.
We develop strategies that don’t just look good on paper.
400+
INTERVIEWS CONDUCTED IN THE SECOND PROJECT
£150K+
RAISED BY THE CLIENT IN PHILANTHROPIC SUPPORT
This website uses cookies. View our privacy policy