De-risking the New Product Development Process

We know that new product development (NPD) is expensive – and risky.

We also know that appropriate involvement of the target audience during the innovation process de-risks your investment and enables you to bring your product to market more quickly. We’ve seen it time and again.

Its why we’ve developed a range of highly cost-effective and agile, new product development research approaches for B2C and B2B brands that can be deployed at different stages of the NPD process from ideation, to concept evaluation, prototype testing, launch campaign evaluation and post-launch monitoring.

We use qualitative, quantitative, ethnographic and neuroscience research, tailored to your exact requirements, to ensure you get the clarity you need, just when you need it.

Our new product development research experience

Our NPD experience is very extensive, including ambient and chilled food, retail banking, DIY, insurance, pensions, automotive, alcoholic and non-alcoholic beverages, OTC medicine, CBD products, gaming, leisure and hotels.

Examples of the sort of research-led NPD projects we undertake include;

Blue-sky idea generation for new, CBD-based product range
Assessing the potential of a number of new yoghurt concepts and flavours
Trialling new games and consoles for a global manufacturer
Helping develop a new, alcohol-free spirit drink – undertaking concept evaluation thru to launch and campaign optimisation
Identifying the optimal format for a new, automotive store concept

Developing a range of new B2B insurance products
Assessing the features and market potential of a new, digital payments app
Developing a new type of current account for a UK bank
Identifying the features and customer experience specification of a new concierge service for an international cruise line
New mortgage features and benefits identification

Our new product development research capabilities

Brandspeak has a range of tools and approaches to de-risk and energise your project at all stages of development.

They include:

Idea generation – research and co-creation designed to generate high numbers of new product ideas
Idea screening – research and co-creation to designed to assess and optimise new product ideas on the basis of their appeal and likely demand
Target market definition – defining the target demographic and identifying their unmet needs and behaviours
Proposition and positioning identification – to crystallise the nature of the offer and ensure it is 100% relevant, differentiated and motivating
Concept development and testing – to evaluate the overall appeal of the offer and optimise its composition
Price point analysis – to identify the optimal price point and determine brand elasticity
Demand analysis – to determine likely rates of new product or service demand
Name generation and testing – to identify the brand name most able to embody the defining characteristics of the offer in an appealing, differentiating way
Packaging research – to assess the different design options and determine both physically and emotionally which one will perform best
Key message identification – identifying the key messages and the order in which they need to be communicated
Marketing strategy development – our marketing consultants are on-hand to help you create and implement your the marketing plan for your new product.

For more information about new product development research and the potential research requirements at each stage, read our article Conducting New Product Development Successfully, here.

Contact

For more information about Brandspeak’s NPD and innovation research expertise please get in touch or call: +44 (0) 203 858 0052

Research ToolKit

MAXIMISE YOUR BRANDS PERFORMANCE

Our research toolkit is comprehensive! It contains all the latest tools and techniques, as well as lots of old
favourites. Whatever your project, we have the research solutions to provide the answers you need.