Archive for the ‘New Product Development’ Category
Wednesday, March 18th, 2009
A new B2B International white paper – Using Market Research For Product Development – is now available online.
In it, Julia Cupman assesses the importance of product development to a company’s growth prospects, focusing in particular on the vital role(s) that market research plays throughout all the different stages of the product life cycle, from initial concept through to product maturity. Product development research serves a host of purposes, such as establishing (unmet) needs, estimating likely demand, setting prices, shaping the specification of the product or determining optimal price points, to give but a few examples.
Of course, product development research does not just examine the product alone; packaging, advertising, pricing, service, brand and company reputation are some of the other factors which together make up the complete customer value proposition. Indeed, improvements to packaging, delivery, or any aspect of service support could have just as big an impact as improvements to the physical product itself.
Whether establishing potential opportunities for brand new products or trying to breathe life into a former favorite seemingly on its last legs, market research provides insight into the needs of the market, and reduces the risk associated with any form of product development.
To read the white paper in full, please click here
For further details on B2B International’s product development research services, please click here
Posted in
Innovation, Julia Cupman, Market Assesment, Market Intelligence, Market Research, Needs, New Product Development, Product Development, Qualitative Research, Quantitative Research, Segmentation, White Papers |
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Thursday, March 12th, 2009
Have you ever bought a large box of cereal, only to get home and find that it doesn’t fit into your cupboard on onto the pantry shelf? If you have, then it would seem that you’re not alone. Which is exactly why Kellogg Co. is currently trialing a new "space-saving" cereal-box design.
The new box, which is being road-tested in Detroit, is the biggest change to a Kellogg box since the 1950s.
The new packaging – which adheres to a shorter, fatter design – contains the same amount of food, but is expected to fit into pantries more easily.
Retailers are also set to benefit, as it is predicted that the new box will make better use of grocery-shelf space, allowing retailers to offer a wider variety of products.
A further bonus, enhancing the corporation’s environmental credentials, is that the new box design boasts an 8% decrease in materials, evidence that the company is looking to improve its footprint, as well as drive efficiency and effectiveness.
A spokesperson for Kellogg Co. says:
The test of this new space-saving packaging is part of our ongoing commitment to identify solutions that help us meet the needs of our retail partners and consumers.
The trial of this new product is expected to last six months, and aims to gain consumer and retailer insights with a view to rolling-out the new packaging nationally.
Posted in
Consumer Research, Customer Insight, Innovation, Needs, New Product Development, Packaging |
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Tuesday, October 14th, 2008
To mark its 30th birthday, Marketing Week commissioned a YouGov survey to find out what the British public thinks have been the best brands, new products and advertising campaigns of the past 30 years.
More than 2,000 respondents chose their top three in each category of the study.
Microsoft beat BBC and Google into joint second place as the best brand of the past 30 years. All three of these top brands finished some way ahead of their nearest rival.
Google, however, was announced clear winner in the best new product category, with the popular search engine receiving 47% of mentions, a third more than its nearest rival, SMS text messaging. With Freeview, Sky Plus and Apple’s iPod all ranking highly too, it would appear that more recent product launches have an advantage by being at the front of people’s minds.
Conversely, in the best advertising campaign category, older campaigns proved most popular. With the exception of last year’s Cadbury Gorilla campaigns, which polled second, this category was dominated by ad campaigns of yesteryear. The winner was the Nescafé Gold Blend series of adverts, which launched in the UK two decades ago and ran for several years.
To read about this survey in full, click here.
Posted in
Advertising Research, Branding, Market Research, New Product Development |
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Monday, September 29th, 2008
Let’s face it – all businesses need to make a profit, and most are constantly thinking of ways to increase profits. There are many different strategies which will enable you to do this, among them:
Alternatively, you might decide to adopt a different tack and focus on reducing costs, perhaps by:
- Finding a new, better, faster and/or cheaper supplier
If you are considering this option, the next question you will likely ask yourself is should I be looking overseas or closer to home? The truth is there is no one correct answer. At one time or another, B2B International has undertaken research into just about every conceivable industry sector somewhere in the world, and the reality is that your perfect partner may be on the other side of the globe or just around the corner. For some companies, manufacturers in rapidly-industrializing areas such as China, India and South East Asia provide the ideal solution; for other organizations, local and national manufacturers will better suit your needs.
According to a recent article in the Chicago Tribune, some smaller, regional manufacturers are thriving in the current economic environment because they are able to adapt more quickly to changing market conditions and thus able to be more responsive to customers.
Pam McDonough of the Alliance for Illinois Manufacturing highlights that the Chicago area generates two-thirds of the state’s $72 billion in manufacturing output and supports nearly 1 million manufacturing jobs.
Meanwhile, Ralph Keller from the Association for Manufacturing Excellence comments that:
New technology and productivity continue to make big cost reductions. That’s why the small manufacturers are doing well. They’re close to the customer. They’re nimble and flexible, and they can configure things to order for customers.
To read the full version of this article, click here.
Posted in
Global Research, International Market Research, Market Assesment, New Product Development, Supply Chain |
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Friday, August 1st, 2008
Carol-Ann Morgan’s latest Thursday Night Insight post looks at how the current state of the economy impacts on our marketing and market research behaviour. Wider economic factors may be beyond our control, but that doesn’t mean to say we have no control over our own destiny..
I met with a friend of mine the other night, whose business is in the manufacture and fitting of products for the construction industry. Our conversation quickly turned to the current economic position and how this might be affecting business. The major impact he has seen was in the volume of work available. No surprises as pressures affecting the construction industry are widely reported in the media. My friend proceeded, enthusiastically, to tell about his efforts to ramp up his marketing; increasing his spend, producing new and interesting literature in a variety of media, maximising his high project successes, maintaining his contact database and using hospitality events productively.
I was struck by his approach, and his investment in what he saw as safeguarding the future of the business in the very competitive and challenging market in which he operates. There can be a tendency to think that marketing actions and ideas stem mainly from the larger companies, with designated marketing personnel beavering away for the company. Quite clearly, the recognition of the need for marketing and market knowledge, particularly in challenging times, extends to the SME.
Market research requirements change during times of high and low growth. In high growth times, companies tend to be feeling more optimistic, looking for new markets and new products. Market assessment and product development tend to be high on the agenda. However, in low growth times, there is an even greater need to understand our customers, meet their needs, keep them satisfied and build loyalty, and this is reflected in the type of research requests received.
My friend reminded me that the worst thing you can do when times are hard is nothing!
Posted in
Carol Ann Morgan, Customer Satisfaction, Market Assesment, New Product Development, Thursday Night Insight |
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