Needs Assessment Is an Integral Part of Successful New Product Development
Successful new product development requires the marketer to identify opportunities, conduct product needs assessment and then develop new products better and faster than competitors. Information from the target audience to identify opportunities and conduct product needs assessment is critical for new product success.
Product opportunity identifies underserved needs that can be exploited with a new product or with an existing product marketed differently.
Population Segments Present
Consumers and target segments are not monolithic. There may be smaller groups within your segment that present a special opportunity to the company that can best meet their unique needs. Market segmentation can help you uncover which features and benefits are most important to your target segment is critical to developing successful new products.
New Product Development Research May Include Tracking
Contact us to learn more about new product development research.