New Product Development and Product Concept Testing represents a range of specific marketing issues and challenges
and can involve the full array of qualitative and quantitative techniques. Boston Research Group's philosophy is to
apply the most appropriate technique for your stage in the development process.
Typically, qualitative methods will be employed if the stage is in the exploratory phase and initial customer
reactions need to be understood in-depth. Quantitative methods are typically more appropriate when choosing among
candidate products or conducting product line optimization.
Product development and concept testing research is designed to:
Determine customer needs and requirements that are to be met.
Articulate what product features, functions, and capabilities are required to meet those needs.
Evaluate the ability of the product or service to compete effectively.
Identify any market opportunities that may increase potential for success.
Identify any barriers or limitations to success.
Articulate the products "core benefits" (helpful to positioning and messaging).
In some cases, price elasticity modeling or choice modeling techniques are required to examine price and/or
feature tradeoffs for purposes of product optimization.