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Case Study - Market Research for New Products
A client recently contacted us as they had spotted an opportunity within the market and were considering launching a new product to satisfy what they thought was a customer need.
Our brief was to contact a sample of target customers and interview them to ensure that there would be sufficient market demand to support the launch of the new product.
We identified a list of target customers from the client's criteria and purchased the list in database format on behalf of our client. We then designed a research questionnaire and this was agreed with our client. The questionnaire posed a number of questions aimed at determining the level of demand for the new product.
After we had completed the agreed number of telephone interviews, a summary report was produced detailing the nature of the target customers that were contacted and summarising their responses to the various questions that were asked.
In some cases market research will indicate that there is not any demand for a particular product or service but in this case, the research confirmed the need for the product.
Our client was able to use the research report to support their application for funding for the product development that was required to deliver the product.
The product has since been delivered and the market demand has been high as our research originally suggested.
To discuss your requirements, in strict confidence and without obligation:
Call: 01892 783383 or email: info@improvia.co.uk