Survey Software can play an important role in the new product development process.
When developing new products, businesses want to ensure their products will be successful. In the initial stages of the new product development process, it is important to implement surveys using an advanced survey software solution. Surveys are a cost effective way to collect diverse feedback from target markets. Surveys collect important feedback that can have a big impact on new product development plans. Receiving feedback directly from potential end users gives product development teams the confidence to roll out new products to market.
It is up to product developers to approach the survey research properly. There are several things to consider when developing new products, including:
Branding. Branding is essentially about brand equity – the value of having a well-known brand, also known as brand value. Brand equity can be regarded as an indicator of the success of a brand. The strength of a brands value is assessed through:
- Differentiation: The major characteristics of the brand and its uniqueness relative to competition.
- Relevance: The appropriateness and connection of the brand to consumers.
- Esteem: Consumers’ admiration for and attraction to the brand.
- Knowledge: Consumers’ awareness of the brand and understanding of what it represents
Concept Testing. Concept Testing helps to minimize risk and maximize revenue when entering new or existing markets by measuring consumer response to a new product. Concept testing can be executed through field surveys, face to face surveys, and focus groups, in combination with product development surveys.
Pricing. Pricing is an important aspect of launching a new product. Product development surveys can include questions with price rating scales. Price rating scales can help determine the degree of importance that consumers place on the pricing level of a particular product.
Product Positioning. Product Positioning is the process of identifying a market niche for your product, compared to competition.
Snap Survey Software offers a wide range of survey solutions and research services to help you create effective product development surveys.