New Product Development Research

About New Product Development Research

New product development is the process of bringing a new product to market. This includes various stages of development including market research and market analysis. New concepts and information gained from product development research are used to fill needs in the marketplace.

Purpose of New Product Development Research

New products are often expensive to develop and they regularly fail in the marketplace. In order to save themselves from making costly errors, companies carry out new product development research, which includes concept testing, price sensitivity testing, packaging research and name testing. Online surveys and focus groups can be utilized during the various phases of new product development including but not limited to the concept development phase.

Steps of New Product Development Research

• Idea Generation
• Idea Screening
• Concept Testing and Development
• Business Analysis
• Market Testing
• Technical Implementation
• Commercialization
• New Product Pricing

How Persuadable Research Saves Time and Money

Persuadable Research is an online market research company that provides professional project management, professional design and expert targeting of respondents. Assess future profitability and consumer interest of new products by putting the Persuadables on your team today.