Market research plays a significant role in product/service development and should be applied to all stages of product life cycle from concept to maturity. Whether you are developing new products or services or modifying existing ones so they appear new, product/service research should encompass the entire customer value proposition, not just the product or service alone. While this may sound easy, in reality the process is very difficult with success dependent on quality customer and competitor intelligence.
The process requires thoroughness and a series of benchmarks throughout the process. These benchmarks help an organization assess whether the expensive and time consuming product/service development process should be continued. Additionally, both customers and prospective customers should play a vital role in the product development process with evaluations conducted at concept, prototype and final product stage.
Strategic Marketing Services has vast experience with the following products and services:
- Building Automation / Environmental Controls / Fire & Life Safety Systems
- Healthcare / Senior Care
- Office Furniture
Strategic Marketing Services is available to assist your organization with your product or service development research needs. We are highly experienced in helping organizations conduct research throughout all stages of the product life cycle.
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