Market Research Case Study New Product Development

Market Research Case Study New Product Development

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. 

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