So, you have developed a new product and it’s awesome! It was probably quite a journey to get there… lots of going around in circles until finally you have a new product that is perfect to launch your business to the next level.
What happened… why is it not selling???
You have listened to your sales guys, you have listened to the requests of your customers, you have many years of product and industry knowledge… This product was a perfect fit.
But – it’s not selling.
Did you know that almost 95% of new products that fail is not due to the product itself… it’s due to the fact that you failed to carry out sufficient specific market research.
The product may be perfect, but Market research helps you to understand your clients’ actual needs, determine the best opportunities, minimize your losses, and plan the most effective marketing campaigns.
One better…. Get really specific primary market research done by an independent company. Unbiased and with a fixed affordable price tag. Don’t let your new product fail!
Incidentally, I have some data here regarding R&D teams in the UK. Hundreds of R&D teams have told our researchers that their top three frustrations are:
Really powerful data for us to confirm that we are indeed positioning ourselves correctly to serve your needs… there is obviously plenty of other data there which also tells us that we need to change a few things… watch this space!
See the link in the comments below. Case studies are available on request.