Brandspeak is a leading innovation and new product development (NPD) market research company.
Whether your new idea relates to the B2C or B2B market place we provide a full range of innovation and NPD market research capabilities to get that idea off the ground with minimal risk and maximum creativity.
If you want help identifying new opportunities, assessing market potential, defining a motivating and differentiating brand proposition, establishing proof of concept or just finessing your innovation, Brandspeak can help.
In fact, we’ve been providing innovation research support to companies in a wide range of industry sectors including FMCG, Financial Services, Automotive, Retail, Public Services, Gaming, Education and Technology since 2004.
How NPD Research can help you
Successful innovation is one of the surest ways to grow a brand but it’s both expensive and risky. Innovation research from Brandspeak will enable you to mitigate that risk whilst managing the investment.
For example, if your innovation is targeting an already mature market place it is vital that you have a clear understanding of your product’s potential to gain market share, so that the project and the initial investment can be justified from the outset.
In this case, Brandspeak’s innovation research expertise will provide the insights to help you address critical early questions such as:
Which are the priority and secondary segments for your new product – and why?
What is the size and potential value of each?
Which competitor brands exist and what are their strengths and weaknesses?
Which (un-)met needs must your product be capable of satisfying, how significant is each and in which order should they be addressed?
What are your product’s core features and benefits; which ones are ‘me-toos’ and which are genuine sources of differentiation and competitive advantage?
What are the market’s price benchmarks and expectations for the your new product?
How and when will target customers expect to purchase the product and what (if any) support will they need?
What are the greatest barriers the product and its marketing will need to overcome?
On the other hand, you may be creating a totally new product for which there is no existing market place. If so, you will effectively be responsible for creating both the product and the market from scratch.
In this case Brandspeak will help you address the additional questions that new market plus new product introduces. These include:
How do you estimate potential demand for a product that doesn’t already exist?
How do you define the brand proposition and positioning?
How do you explain the new offer to customers and why they should buy it?
How do you identify the optimal route to market?
How do you determine price?
How do you undertake an awareness campaign capable of creating initial traction?
Our research capabilities
Brandspeak has developed a range of qualitative and quantitative research tools designed specifically to both de-risk and energise your project at all stages of development.
They include:
Idea generation and co-creation workshops – developing new product and service ideas from scratch.
Target consumer profiling – identifying the rational and emotional drivers of the target audience.
Proposition and positioning research – to crystallise the nature of the offer to the target audience and ensure it is relevant, differentiated and motivating.
Concept testing and refinement research – to evaluate the overall appeal of the offer and optimise its composition.
Pricing research – to identify the optimal price point and determine brand elasticity.
Naming research – to identify the name most able to embody the defining characteristics of the
offer in the most motivating and differentiating way possible.
Packaging research – to evaluate the different design options and determine both physically and
emotionally which one will perform best.
Key message research – identifying the key messages that need to be communicated about the
new product or service and the order in which they need to be communicated.
For more information about Brandspeak’s NPD and Innovation research expertise please get in touch or call: +44 (0) 203 858 0052
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