In a fast changing market, it is critical to constantly develop and test new products. If they fail, a company has lost its investment and cedes market share to the competition. Adding to the pressure, products have to be designed in the right manner. Gone are the days when the product design decision could be addressed by dumping a multitude of features on buyers, since the resulting “feature fatigue” will hurt brand loyalty.
Rockbridge offers new product development research geared to the unique needs of services and technology companies. From concept screening, to concept testing, to conjoint analysis and discrete choice analysis, we have the tools. Our new product development research solutions will tell you:
- Consumer acceptance of a new product
- The optimal bundle of features
- What to include or drop from a product line
- The long-term potential of innovative products
Rockbridge has standardized methodologies for new product development research that are tailored to each client’s needs including:
- Concept screening studies to identify product ideas with the greatest potential for further development
- Concept testing using surveys to evaluate market interest, strengths and weaknesses, target markets, and demand potential
- Product optimization, including conjoint and discrete choice analysis, TURF analysis, and max/diff analysis. We also have a proprietary method, Rocktimizer™, which allows a conjoint exercise to be conducted by phone or online and can include a large feature set.
- Focus group evaluations, which are useful for highly complex or technology-based services.
Our approaches recognize the unique challenges of intangible products and also address the issues specific to whether the category is a service or an information/entertainment product. Examples of categories for which we have conducted new product development research include:
- Financial services
- Telecommunications services
- Consumer electronics
- Business software
- Web sites
- Multimedia entertainment and television shows
- Travel services
Read whitepapers on New Product Development Research.