Own the future
Optimise and validate innovations to deliver their full potential Before an innovation can be launched onto the market, it is critical that it should be optimised and fully validated. Launching new products can be an expensive exercise – both in terms of the cost of production and distribution, and the risk of launching a sub-optimal product. A business needs to understand which segments a new product will appeal to, which existing products it will cannibalise and what market share it will achieve.
Our New Product Development philosophy is shaped by these business needs. NPD research requires a broad range of research tools, from simple concept testing to late-stage product optimisation through to comprehensive market forecasting. At GfK NOP we have deep expertise across the full spectrum, including a multitude of advanced conjoint and modelling approaches.
Our Innovation framework utilises many customised tools to deliver robust, consistent results. Our differentiator is the ability to deliver these results in a consistently easy-to-use way, so that you can derive maximum value from the tools.
We don't simply deliver research results, but transform them into the business context. So, rather than delivering preference shares from a concept test or conjoint exercise, we transform these into market forecasts of consumer behaviour. These forecasts are fully calibrated to the marketplace, factoring in product awareness and availability as well as consumer inertia.
Results are delivered in the form of customised market simulators which allow you to simulate any market scenario at the click of a button. These simulators are built in a completely customised format, making them easy to use and with the ability to link different projects together.
Our Thinking
Take a look at some examples of the work we have conducted in our library of case studies and points of view.
Corrine Moy