Successful innovation is one of the surest ways to grow your brand - but it’s both expensive and risky. Appropriate and timely innovation research is one of the best ways to minimise the risks and maximise the opportunities associated with your innovation project.
You may be looking for an initial piece of research to help you determine the scale of the opportunity for your new soft drink idea. This might include:
Identifying and quantifying your primary and secondary targets; their profiles, needs, expectations, current brand repertoires, usage patterns and behaviours.
Assessing and mapping the strengths and weaknesses of your competitors; their propositions, positioning, product performance (including any sensory dimensions), pricing and distribution.
Identifying, exploring and quantifying any gaps in the market – as the well as the nature of the propositions that might fill them.
Or perhaps you need to undertake research in order to assess and enhance the online Financial Services concept you have created, potentially focusing on:
The salience and impact of the proposition and positioning
The strength of its individual features and benefits – including any USPs
Any gaps in your offer, their impact and if / how they can be addressed
Your proposition’s price elasticity, trading off individual features and benefits
Any pre-requisites for Sales and Marketing support – including key messages
The propensity of the target audience to adopt or switch to your new product
Or maybe you need help determining the likely impact of proposed, new packaging for your established spirits brand, using prototypes as research stimulus to assess the extent to which the new packs:
Retain and enhance key brand and product cues whilst bringing the product’s appearance up to date
Increase shelf-stand out
Provide a suitable, ergonomic and sensory experience for users
Whatever the nature of your innovation and whatever the stage of the project you have reached, we would be delighted to help.