Idea & Product Development
A steady flow of new ideas is the lifeblood of every business. But if your business is built around maintaining the status quo, eventually you will fall behind.
Will you thrive or be replaced?
You will be replaced by a competitive product that reduces costs or friction. You will be replaced by a competitive product or service that is closer to what the customer ultimately wants. Or you will be replaced by something entirely new – a solution that did not previously exist.
What does the consumer want?
Whoever they are, consumers want products that fit their lifestyle. Some may be “functional”; others may fulfill a deeper emotional need. Some will form a durable, persistent bond; others will not. Each and every idea can be placed somewhere along the dimensions of meeting a functional or emotional need.
Do you have a learning culture? Are you driven by innovation?
To stay in business, you must continuously innovate and test new products, delivery systems, or integrated product/service solutions. New ideas can come from many sources — R&D, competitive failures, marketplace insights, retailer or sales force feedback, and so on. Your job is to identify marketplace deficiencies, whether a new idea could succeed, and relentlessly test those ideas.
We are experts in qualitative and quantitative approaches to fuel idea generation and product development.
If you are a company looking to expand your new product pipeline or explore new product ideas, give us a call.