New Product Development Stages
New Product Development Stages
New Product Development Stages
the stage of new product development with the right creative or product market research method. We use the Marketing Intelligence Platform to guide the use of the three forms of ntelligence !! deas, Data, " Drivers !! to the product development process. We provide consulting and specific new product research market research capabillities at each new product development stage. Product development market research methods and tools used ma# var# according to the product t#pe, the e$tent of incremental change from other products, the investment and risk factors, and the costs of seeding the new product in the marketplace.
Product development is a sequential decision process. t%s a series of decisions, not one. t is ke#, therefore, to concentrate attention on the precise new product decision at hand, and think through the market research and creative tools needed for that stage.
or targeting engagement. Since each client compan# or firm is unique with its own set of issues and opportunities, we often begin our relationship with a decision identification and clarification engagement , what we call Decision &apping. -his identifies the most relevant problems, opportunities, and issues most relevant, and serves to clarif# the decision agenda. We believe this is a crucial step to ensure as consultants to #our compan#, that our research or marketing strateg# engagement meets #our specific management requirements. Further, Decision Mappingsaves both time and mone# as it sharpens focus as to the e$act work which needs to be accomplished in our remaining consulting or market research work for #our compan#.
4ere are some e$amples from industries we%ve served with management strateg# consulting and marketing research... Financial
We%ve conducted studies for brokerage firms, savings insitutions, banks, and companies that serve them. Financial services marketing studies include( ma5or market entr# studies and consulting for large mega!bank6 brand image studies , new product development market research6 price!positioning of online, *-& and credit card services,
upscale services6 site location anal#ses6 and advertising research We understand the financial services marketplace. )ur clients include Wells Fargo, 7e# 8anks, 9olden West, :S 8anks, 8NP!8ank of the West, &eritor, *laska Pacific, Northrim, and others.
&arket /esearch -ools( 'oncept -esting *dvertisng, 8rands, Products, Pricing, Positioning
see also Product Research
'oncept testing research evaluates advertising concepts, ad theme concepts and appeals, new product concepts, pricing, brand concepts, brand names, and positioning strateg# concepts.
)ur concept testing market research design approach for #our compan# will develop precise and specific concept statements for development, testing, screening and segmentation. 4ere we support #our product, advertising, or positioning, pricing, or branding concepts consistent with a multi!step process to #ield optimum results.
We emplo# advanced concept testing research measurement and questionnaire approaches using both qualitative andquantitative market research methods. Staged 'oncept -esting
Staged or sequenced concept testing acknowledges the importance of the iterative creative and refinement process involved in concept development. We believe our concept testing research philosoph# is what differentiates us from man# other market research firms. -hese principles guide our concept development and testing stud# designs(
Details
Concept testing is both a research and measurement activity, and a creative concept development activity. Testing outcomes spawns creativity so we build it in to the process. In the beginning, we focus on concept development rather than screening, which comes later. Concept development requires an exploratory market research mode and mindset, starting first using exploratory qualitative research methods such as depth interviews among target audience members. We address both tangible attribute clusters, and emotional appeals when creating concepts and building concept statements. We move from qualitative depth interviews, to larger sample time extended depth interviews, often employing online depth interviews which allow for repeated respondent interaction and concept incubation. !sing a hybrid research design, we blend the qualitative research mode with quantitative concept ranking, this to refine concept development and assessment of appeal. Thus, our approach to screening concepts favors smaller sample multiple waves rather than one large sample wave. "inally, we acknowledge that a full understanding of concept appeal must be assessed in a mode with maximum realism. #ere$s a case when we believe that online market surveyshave a strong advantage as they allow use of a variety of exhibits for the testing of advertising concepts, product concepts, brand concepts, and strategic positioning concepts.
Qualitative Explorations
'nce the target audience is identified !even if not totally precise", and some notion of the product category !or human need" is established, then *ualitative research is the first step. he purpose is to develop in-depth understanding of the target consumer+their motivations, perceptions, fears, and preferences. ,erceptions of competitive products can be explored. -nmet needs can be identified. New product ideas can be sought. he *ualitative exploration serves to identify new product possibilities as well as refine the target-market definition for those possibilities. .ualitative research is also useful in determining the starting points for ideation.
Innovation Services
/uilding on the foundation of understanding provided by the *ualitative research, (ecision )nalyst uses its 0maginators1 panel of 2,333 exceptionally creative individuals to help generate new product ideas. hese ideation sessions can be conducted online or offline, following creative processes developed by (ecision )nalyst. ) typical all-day ideation session of eight 0maginators1 produces from 433 to 533 uni*ue new-product ideas or idea fragments. (ecision )nalyst6s 0nsights 7 0nnovation eam then translates this raw ideation material into new product concepts. hese concepts can then be refined with *ualitative research before going into *uantitative testing.
Concept Testing
8oncept testing identifies potentially successful new products early on, so that you can focus limited research and development resources !and limited marketing resources" on the new product concepts with the greatest probability of consumer acceptance. (ecision )nalyst provides a suite of concept testing systems and services.
Packaging Research
,ackage graphics and copy are critical to new product success. (ecision )nalyst offers a suite of package-testing services to help develop a winning package that can help generate trial of the new product and pro&ect the appropriate brand image.
Product Clinics
'ur automotive research group conducts static clinics, dynamic clinics, and :( pro&ection digital imaging clinics. hese clinics range in si;e from small single city evaluations in the -.S. to large-scale multi-country clinics. <ach clinic is conducted by a dedicated team, led by a senior researcher experienced in all aspects of conducting clinics. (ata is captured using handheld devices to assure fast delivery of data tabulations. ,resentations of clinic results can be provided within 24 hours of the conclusion of the clinic in-person or via Web-based meeting.
&roduct research lets you understand what customers really want, allowing you to tailor your product offering to meet their needs and giving you a real competitive edge. %ew product research helps you refine product designs and plans before committing yourself to expensive product development costs. Whilst continuing product testing and research can drive innovation, keeping you one step ahead of the competition.
Initial product research can be used to evaluate new product ideas. Testing the conceptalone like this can help you discard unpromising ideas, allowing you to concentrate product development expenditure on more promising new products. 's the new product development process continues, product research helps you identify the key factors that matter to customers showing you what to focus on. &roduct research can link in with other aspects of marketing. "or example, it can help you assess how much customers might be willing to pay for new product features. (esearch can also be used to assess other aspects of product design, such as product packaging or names. In the retail sector, product research can be invaluable. The findings can help convince retailers to stock your product and also present information on the best means to display and promote it to ensure the best possible chances of success. )nce a product has been launched, product research often focuses on customer satisfaction. Together with research into competing products, product research like this can help you refine the marketing of existing products and inspire ideas for product improvements.
(ating
+ix ways to test your products on a shoestring budget Why you must test for success Find more articles, videos and tools in the /esources bo$ on the right.
Top of page
Testing your target market is really important, testing some ideas first or a prototype but test it before launching it. It is better to spend some money before than spending a lot more to correct mistakes. &rimary research -surveys. will give you the feedback you need. #ave a look on 2arketest site or ask me more information.
,enchmarking
2arketing can make a dramatic contribution to your success, yet many businesses fail to measure how effective their marketing is. 2arketing research can help you assess the effectiveness of your marketing strategy and measure the performance of individual campaigns. 3ou can use market research and benchmarking to help plan your marketing strategy and methods. 4ery often it$s the combination of marketing activities that produces results.
advertising coupons that let you identify which publications are generating the best enquiries. Web analytics on your website can generate statistics showing how visitors behave and which pages are encouraging purchases. 2arketing analysis and benchmarking doesn$t only help you measure marketing performance but also predict and improve it. "or example, techniques like list splitting allow you to test different versions of a mailing to find out which one will work best. 6nowing which marketing messages and media work best helps you spend your marketing budget more effectively in the future.
2arket research questionnaires, surveys and focus groups can be powerful tools for improving your understanding of your
market and customers. If you can$t find the information you want from your internal records or published market reports, you may need to invest in carrying out your own primary research.
*uestions must be carefully designed to avoid influencing the respondent$s answer or confusing them about what is being asked. "or example, if you ask customers how much they would pay, they may deliberately choose a low price in the hope of influencing you. Conversely, people might say they like a product sample 7ust to be polite. 8nsure you are asking the right people and encourage them to respond. Typically, market research surveys aim to get a representative sample of your target market. )ften, busy people will decline to answer, leaving you with a research sample that is heavily weighted towards those with time on their hands. ' professional researcher knows how to avoid this. These kinds of problem can be particularly acute with focus groups. %ot only do you have a small sample, but the group dynamic may lead individual members to give misleading answers. "or example, if an individual has strong views and tends to dominate discussions, a professional researcher will be able to moderate proceedings to make sure everyone has a say. "ocus groups can often be recorded or observed so clients or members of your staff can watch. If you don$t have the skills to carry out market research yourself, you should consider using an agency to work on your behalf. (esearch by professionals will provide an ob7ective and balanced view.
' market research agency can design, carry out and analyse market research for you. !sing a professional market research company can ensure that you get the information you need and avoid the risk of relying on inaccurate research. 2arket research agencies will also help make sure you$re complying with current data protection legislation. They will give you ob7ective feedback vital when it$s your idea, product or business. 2arket research companies will generally need budgets starting at 90,111. #owever, agencies used to serving businesses of your si:e are worth checking with even if you have a small budget. "or instance, you can 7oin omnibus surveys and ask a few questions of your own along with others. )nline surveys can also be done relatively cheaply.
If you have less to spend but need professional help, you may want to consider using a freelance market researcher to ensure ob7ectivity. ' freelance consultant can conductsurveys and questionnaires and also do qualitative research using face to face focus groups.
2arket analysis
!nderstanding how your market works and what customers want is vital. Industry analysis, desk research and customer research help you identify where to focus your efforts and how to maintain a competitive edge.
Customer research
Industry research and market surveys tie in with research into your customers. "or example, your own customer data should help you understand which market segments your existing customers fall into and what you should be doing to build market share.
If you don$t have all the information you need, you may want to carry out additional customer research. "or example, you might measure customer satisfaction to see how well you are performing, or survey lapsed customers to find out why they no longer purchase from you.
Our plastic injection molding products include agricultural products, kitchen products, tools, toys, promotional products, machinery components and much more. Peliton custom molders will match your sophistication level on any plastic project. Whether you want to meet the highest quality tolerances or save time and money, we will watch over your product to insure that only acceptable parts are produced. Scroll down to see a few of our recent custom plastic molded parts, manufactured and assembled at Peliton.
Plastic !oys
*edical Products
Plastic +andle
'oncept to Design
't ( < = 8ngineering we work with clients that have complete plans and specifications or 7ust an idea in their head. )ur skilled team of engineers will assist you in developing a clear understanding of your requirements and help you make the important decisions that will speed your design to market.
&old
&aking
3our pro7ect is in good hands with ( < =$s sophisticated engineering and mold making skills. Working from scratch or from your existing C'= file our engineers will create a mold design to meet your needs. With our advanced tool room technology and engineering excellence we will speed your product to market. In house mold making also allows ( < = 8ngineering to be very competitive. +ince there is no middleman mark up on tooling cost, the savings is passed along to you.
We currently have @ mold designers and A experienced mold makers on staff at ( < = 8ngineering. )ur experience in building multi cavity family molds can bring a cost benefit to your production requirements. The key to molding quality parts begins with well designed, well built and well maintained molds. ?et ( < = 8ngineering help you optimi:e your next in7ection molding pro7ect.
n5ection &olding
( < = 8ngineering currently has 0@ late model T)3) in7ection molding presses ranging in si:e from B1 ton thru C11 ton. These computer controlled machines offer reliability and repeatability so we can consistently supply high quality plastic parts.
Secondar# )perations
( < = 8ngineerings onsite secondary operations benefit our customers directly, by providing them with a one stop solution. #aving all the services you need located under one roof helps you speed your next plastic in7ection molding pro7ect to market. Secondar# )perations nclude 0. #ot +tamping @. +onic Welding D. +econdary 2achining A. 'ssembly C. &ackaging E. &ad &rinting
Product .$amples
2edical 8quipment
+imple or Complex
Customi:ed +olutions
Packaging .$amples
( < = 8ngineering can produce, package, label, store, < ship your product. )ur start to finish service makes your next in7ection molding pro7ect a bree:e.
n5ection molding -,ritish 8nglish/ moulding. is a manufacturing process for producing parts by in7ecting material into a mold. In7ection molding can be performed with a host of materials, including metals, glasses, elastomers, confections, and most commonly thermoplastic and thermosettingpolymers. 2aterial for the part is fed into a heated barrel, mixed, and forced into a mold cavity where it cools and hardens to the configuration of the cavity.G0H/@A1 'fter a product is designed, usually by an industrial designer or an engineer, molds are made by a moldmaker -or toolmaker. from metal, usually either steel or aluminum, and precision machined to form the features of the desired part. In7ection molding is widely used for manufacturing a variety of parts, from the smallest components to entire body panels of cars. &arts to be in7ection molded must be very carefully designed to facilitate the molding processI the material used for the part, the desired shape and features of the part, the material of the mold, and the properties of the molding machine must all be taken into account. The versatility of in7ection molding is facilitated by this breadth of design considerations and possibilities. &lastic In7ection 2olding &roduct 8xample
The
cooler
in
the
video
was
plastic
in7ection
molded
by
www.Ico2old.com
2any of the consumer plastic parts you see in stores use this process. In order to turn your invention into reality, working with a plastic in7ection mold manufacturer may be required. Q: How long does it keep drinks cold for? A: When charged in the freezer it keeps drinks cold for around 5-10 hours depending upon use conditions. When charged in the fridge it keeps drinks cold for up too three hours.
Q: oes it reall! glow like the picture? A: "#$% &t took 'uite a few shots and ca(era setting changes to get an unaltered i(age that looks )ust like it does in real life. &n a well-lit roo(* !ou get a glow that is less intense than in a dark roo(.
A: .he &+# ,lock +ooler- is (ade of /00$. .his is the plastic used in water 1ottles* )ust a (uch thicker a(ount for strength.
Q: +an !ou freeze it with the 1atteries in it? A: "es* the &+# ,lock +ooler- has 1een designed to freeze with AA 1atteries inside and work perfectl! the (o(ent !ou take it out of the freezer.
Q: &s the li'uid inside safe? A: "es* the li'uid inside is a 2ariation of the gels in traditional ice pack products and is 3 A appro2ed for use in coolers. .he +445#6 +ooler is the &+# ,lock +ooler-% A cool new wa! to keep !our 1e2erages cold and crisp. .he &+# ,lock +ooleris a re2olutionar! +445#6 cooler design that fits in a freezer and features a cool 1lue glow when the power is turned on%
.he &+# ,lock +ooler- keep 1e2erages colder (uch longer than traditional frozen &+# packs or (ugs thanks to intelligent engineering principles. .his is one of the reasons we call the &+# ,lock +ooler- the +ooler cooler% A(azingl!* it e2en keeps drinks like soda and 1eer colder than ice right down to their freezing point of 783.
.ake !our +445#6 cooler an!where !ou need to keep !our drinks ice cold% &t fits 17.oz cans and (ost 1ottles%
Noun 2. molding the act of creating something by casting it in a mold casting creating from raw materials the act of creating something that is different from the materials that went into it
;. molding a decorative strip used for ornamentation or finishing moulding bandelet, bandelette, bandlet, square and rabbet, annulet molding in the form of a ringI at top of a column architrave the molding around a door or window baseboard, mopboard, skirting board a molding covering the 7oint formed by a wall and the floor astragal, beading, beadwork, bead a beaded molding for edging or decorating furniture cavetto a concave molding shaped like a quarter circle in cross section conge, congee -architecture. a concave molding cornice a molding at the corner between the ceiling and the top of a wall cyma, cymatium -architecture. a molding for a corniceI in profile it is shaped like an + -partly concave and partly convex. decoration, ornament, ornamentation something used to beautify egg and anchor, egg and dart, egg and tongue a decorative moldingI a series of egg shaped figures alternating with another shape gorgerin, necking the molding at the top of a column ovolo, quarter round, thumb a convex molding having a cross section in the form of a quarter of a circle or of an ellipse quirk molding, quirk moulding a molding having a small groove in it rib a pro7ecting molding on the underside of a vault or ceilingI may be ornamental or structural subbase the lowest molding of an architectural base or of a baseboard surbase the molding or border above the base of a structure -a pedestal or podium or wall. tore, torus commonly the lowest molding at the base of a column <. molding a decorative recessed or relieved surface on an edge moulding, border edge the outside limit of an ob7ect or area or surfaceI a place farthest away from the center of somethingI Jthe edge of the leaf is wavyJI Jshe sat on the edge of the bedJI Jthe water$s edgeJ picture frame a framework in which a picture is mounted =. molding sculpture produced by molding clay sculpture, modeling, moulding, mould, mold sculpture a three dimensional work of plastic art
0. molding a preliminary sculpture in wax or clay from which a finished work can be copied modelling, modeling, moulding sculpture, carving creating figures or designs in three dimensions
mold>ing
-m l d ng. n. 2. The act or process of molding. ;. +omething that is molded. <. 'n embellishment in strip form, made of wood or other structural material, that is used to decorate or finish a surface, such as the wall of a room or building or the surface of a door or piece of furniture. 'lso called mold0.
#2aluating product design* product usage* and consu(er acceptance of new and e9isting products 6esearch is also conducted to collect infor(ation a1out co(petiti2e products :ew product acceptance 0roduct testers .est ;arkets 0roduct 6ating ,oards #9isting product research