Our market research process aids in the design and evaluation of a new product or service by evaluating the viability of the innovation with potential customers.
Methodology
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Defining the problem
Stakeholders often need guidance in properly defining the business problem they wish to address. Through collaboration we assist stakeholders in clearly articulating the business problem as well as the desired outcome, once an effective solution can be adopted.
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Formulating the right approach
Once the problem is clearly defined, we can begin to discuss a potential solution, if one has yet to be presented. Whether a product or service, we will preliminarily assess the viability proposed solution.
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Sample design
The task of sample design is done though collaboration with stakeholders. Whether a product or service, we collaborate on bringing the design to the highest standards prior to presenting them for research eva
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Data gathering
Whether through survey, focus group or feedback, we will gather real customer data to determine the market response to the new product or service.
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Interpreting the findings
Contrasting the findings against assumptions and hypothesis to evaluate the efficacy of the proposed product or service.
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Present the findings
Finally, we present a final report stakeholders that can be used in decision making, prior to the new product or service launch. These findings can aid in pricing, forecasting, as well as other decision making.