Product research

Product research
See also
Marketing Heavy users Customer analysis Analysis of customer Marketing advantage Media mix Business motivation model Business model canvas Value analysis

Product research is a part of new product development. This is process which helps develop a new product which can provide profit of company. Product research helps companies define important aspects for clients as a price and design. Moreover, product research can help to avoid expensive mistake.

Marketing and product research as a cross-functional integration in product development

The key of success in a new product launching is cross-functional integration as a marketing plus research and development. One of the most important thing in this process are functions of sales, often avoided. Cross-functional cooperation means the measurement of involvement of cooperation, during creating new product and research product, between salespeople, marketing and research and development during new product development. It is crucial to realize how new product should look like and product research help to realize it, manufacture it and sell with profit (H. Ernst, W. D. Hoyer, C. Rübsaamen, 2010, s.81).

Stages of product research in new product development

Creating new product companies would like to reach needs of their clients. Therefore, the most important thing is to understand their. In literature, it is describing as a voice of the consumer. 'Consumer research can be provided in several parts (E. Van Kleef, H. C. Van Trijp, P. Luning, 2005, s.181):

• opportunity identification;
• development;
• testing;
• launch.

Methods and techniques of analyze customer behavior in product research

Survey of customer needs can be various. According to the task n different methods consumers can provide numerous aspects which can be very important. We can distinguish (E. Van Kleef, H. C. Van Trijp, P. Luning, 2005, s.183-185):

• Information source for need elicitation - it shows stimulus of consumer which driven their needs;
• Product- versus need-driven methods - these methods show the main concept of motivation and needs of buying the products by consumers;
• Familiarity - this method show how consumers evaluate products depends on how many experiences they gained connected with this product;
• Task format of method/technique - differences of tasks show different needs of consumers. During research, it is obligatory to diversificate tasks;
• Self-articulated or indirectly derived consumer needs - in this method consumers are asked in direct way about their preferences and choices;
• Structure of data collection - construction of set question is also important. It is crucial to formulate in proper way of inquiry form. The good survey have obtained responses are directly and open answers.

Examples of Product research

• Market Research: Market research involves collecting data from customers, competitors and the market in general to gain insights into customer requirements, competitive landscape and other aspects of the market. This helps companies to identify potential customer needs and develop products that fit those needs.
• User Research: User research is a form of qualitative research that seeks to understand how customers use and experience a product or service. It involves observing and interviewing customers to identify their pain points, preferences and behaviors.
• Concept Testing: Concept testing is a type of research that seeks to gauge customer reaction to a specific product idea. Companies use concept testing to get feedback on a product concept before they invest in its development.
• Design Research: Design research is an approach to product research that focuses on understanding customer needs and preferences. It involves observing and interviewing customers to identify their needs and preferences, and then using this information to inform the design of a product.
• Usability Testing: Usability testing is a type of research that evaluates a product's usability. Usability tests involve observing customers using a product and collecting feedback on its ease of use, accessibility and overall user experience.

Advantages of Product research

Product research provides many advantages for companies. These advantages can help companies develop a successful new product and avoid potential mistakes. Here are some of the most significant advantages:

• It allows companies to identify potential issues in the product prior to launch, which can help to reduce the risk of costly mistakes.
• It can help to define important aspects of a product, such as pricing and design, which can be tailored to meet the needs of the target market.
• It can provide insights into consumer behaviour and buying patterns, enabling companies to better understand their target market.
• It allows companies to test new products, enabling them to make adjustments to ensure the product will be successful.
• It provides an opportunity for companies to compare their product with competitors, enabling them to gain a competitive edge.

Limitations of Product research

Product research can be limited in a number of ways. These include:

• Lack of resources: Companies may not have the resources to conduct a proper product research. This could include a lack of personnel, a lack of time, or a lack of money.
• Limited customer data: Without customer data, it can be difficult to accurately assess the needs of a target market.
• Poorly designed research: Poorly designed research can lead to misleading results, and can make it difficult to accurately assess customer needs and preferences.
• Over-reliance on technology: Technology can be a useful tool for conducting product research, but it should not be relied upon too heavily. Human intuition can be a valuable asset when evaluating customer needs.
• Lack of feedback: Without feedback from customers, it can be difficult to assess customer satisfaction with a product.

Other approaches related to Product research

Product research is an important part of new product development. It helps to define important aspects for product and it can help to avoid expensive mistakes. Other approaches related to product research include:

• User Research - is a process of researching target users, their needs, preferences and behavior. This helps to create a product which will meet the needs of the target users.
• Competitor Analysis - is a process of researching the competition to see what features their product have, what works and what doesn't. This helps to create a better product.
• Market Analysis - is a process of researching the market to understand the size, trends, and potential of the market. This helps to create a product which is tailored to the market.

In conclusion, product research is an important step in new product development. It helps to define important aspects for product and it can help to avoid expensive mistakes. Other approaches related to product research include user research, competitor analysis and market analysis. All these approaches help to create a product which is tailored to the target users and the market.

References

• Ernst, H., Hoyer, W. D., & Rübsaamen, C. (2010). Sales, marketing, and research-and-development cooperation across new product development stages: implications for success. "Journal of Marketing", 74(5), 80-92.
• Peres, R., Muller, E., & Mahajan, V. (2010). Innovation diffusion and new product growth models: A critical review and research directions. "International journal of research in marketing", 27(2), 91-106.
• Van Kleef E., Van Trijp H. C., Luning, P. (2005),Consumer research in the early stages of new product development: a critical review of methods and techniques. "Food quality and preference", 16(3), 181-201.

Author: Karolina Knapik