New Product Or Service Development

“The approach used by Business Advantage has proved to be a combination of 'understanding the customer’s requirements', 'going the extra mile' and 'keeping the customer informed'. From the initial bid stage, right through to the final deliverable, Business Advantage staff demonstrate high levels of flexibility, pragmatism and communication skills, three extremely important elements when dealing with problems that tend to be very fuzzy and demanding."
Competitor Intelligence Manager - international telecommunications company

What
Developing a new product or service cannot be done blind; you need to know what features potential customers want, and what would give you the edge over your competitors' products. Armed with this knowledge you can develop a product or service that sells and sells well.

Business Advantage can research the features required for the launch of a successful new product or service brand, and assess the likely demand for it.

Why
Our analysis of your new product/service opportunity can enable you to:

establish the required unique selling points
define and position the brand image
minimise the risk of launching it
maximise the benefit of your development budget
make informed, cost effective decisions on the inclusion of certain features
establish the likely demand for it
maximise its profit-making potential.

How
Our methods will depend on the stage at which we are involved; we can work on an idea, or on any stage of the development of the product or service. The research works very effectively when planning to enhance an existing product.

Generally we would first gather qualitative information through focus groups of potential customers to establish the features that are important to them, and how they would use the product or service; this could involve comparisons to competitors' products. We then conduct a larger sample of telephone interviews to quantify the degree to which certain features are desired, and to assess the likely demand. We present you with the findings that recommend which features to incorporate according to your sales objectives.

Who
Our combination of expertise in B2B market research and our business and marketing backgrounds enables us to design and conduct the research and interpretation process with one focus - enabling you to take the decisions and action to grow your business. Our experience in the information and communications technology sectors can help you develop products or services of any complexity, no matter how specialist the market. And with in depth, accurate data on tens of thousands of companies in these sectors, we can identify statistically significant samples in your potential markets at a fraction of the cost of sourcing these yourself.

For further information, contact us on +44 (0) 1689 873636, or info@business-advantage.com.

Related Services

Image And Awareness Market Sizing New Market Opportunities Customer Satisfaction
Product Development Usage And Attitude Competitor Analysis B2B Research Home Page B2B Research Testimonials