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  • What is the best way to truly understand your customers’ needs? That’s right, just ask them. It seems simple enough, however, many companies and product development teams omit this vital step in the process.

    Why Is Research So Vital?

    The results of market research are priceless to organizations that conduct it. Consumers’ likes and dislikes of a product and its qualities are revealed by the data gathered during research. It typically produces new concept direction and gives a glimpse into the future of a product or category. Research allows the design team to acquire insight into the minds of consumers and to adjust designs in order to compare them to one another until the final design is exactly what the customer wants at the price he is prepared to pay. Consider it like an eye exam. The patient tells the doctor which is better when he turns the lens. The same can be said for product research, which gives the designer the best chance of hitting a home run.

    In addition to capturing the emotional and behavioral response of a product, research can also raise a red flag when you are heading in the wrong direction. For example, if focus groups of parents tell you they will not pay $100 for a certain type of toy as it is presented; you can almost guarantee that it will fail on the market if you ignore their warnings. This finding is certainly invaluable when you compare the cost of re-evaluating the product to the cost of failing in the marketplace.

    As markets and consumer expectations change, knowing who your customer is and how they spend their money becomes more and more important. And, just when you think you know who the customer is and what they need or want, it changes. Research gives strong evidence of who the customer is and how to best reach them. More importantly, when used over a period of time, trends and market changes can become more easily identified. Analyzing the history of the research also reminds the team how the consumer and the product have changed over its lifecycle, which may lead to new areas of interest for future product development.

    As consumers have become more savvy, so have retail buyers. They have come to expect companies to perform due diligence as proof that a new concept, category or design will be successful. The most effective way to do this is to present the new product through the eyes of the consumer, through market research. Without this, you must rely on cold statistics, studies and your “gut feel”.

    In addition, rising product liability concerns have increased the need for product research. Understanding how users interact with products and the assembly, use and misuse of products has quickly become an important effort in liability consideration. Fortunately, liability concerns can often be seamlessly tied into many research methods, allowing companies to gather demographic, preference, market, trend and liability data with the same research program.

{"cards":[{"_id":"2ea615e8f6e774f616000012","treeId":"2ea61603f6e774f616000010","seq":22835488,"position":1,"parentId":null,"content":"What is the best way to truly understand your customers' needs? That's right, just ask them. It seems simple enough, however, many companies and product development teams omit this vital step in the process.\n\nWhy Is Research So Vital?\n\nThe results of market research are priceless to organizations that conduct it. Consumers' likes and dislikes of a product and its qualities are revealed by the data gathered during research. It typically produces new concept direction and gives a glimpse into the future of a product or category. <a href=\"https://davidhilson0.dsiblogger.com/37060663/best-market-research-rompany\">Research</a> allows the design team to acquire insight into the minds of consumers and to adjust designs in order to compare them to one another until the final design is exactly what the customer wants at the price he is prepared to pay. Consider it like an eye exam. The patient tells the doctor which is better when he turns the lens. The same can be said for product research, which gives the designer the best chance of hitting a home run.\n\nIn addition to capturing the emotional and behavioral response of a product, research can also raise a red flag when you are heading in the wrong direction. For example, if focus groups of parents tell you they will not pay $100 for a certain type of toy as it is presented; you can almost guarantee that it will fail on the market if you ignore their warnings. This finding is certainly invaluable when you compare the cost of re-evaluating the product to the cost of failing in the <a href=\"https://davidhilson.fireblogz.com/36647582/banking-market-research-company\">marketplace</a>.\n\nAs markets and consumer expectations change, knowing who your customer is and how they spend their money becomes more and more important. And, just when you think you know who the customer is and what they need or want, it changes. Research gives strong evidence of who the customer is and how to best reach them. More importantly, when used over a period of time, trends and <a href=\"http://davidhilson.arwebo.com/28946046/alcohol-market-research-firm\">market</a> changes can become more easily identified. Analyzing the history of the research also reminds the team how the consumer and the product have changed over its lifecycle, which may lead to new areas of interest for future product development.\n\nAs consumers have become more savvy, so have retail buyers. They have come to expect companies to perform due diligence as proof that a new concept, category or design will be successful. The most effective way to do this is to present the new product through the eyes of the consumer, through market research. Without this, you must rely on cold statistics, studies and your \"gut feel\".\n\nIn addition, rising product liability concerns have increased the need for product research. Understanding how users interact with products and the assembly, use and misuse of products has quickly become an important effort in liability consideration. Fortunately, liability concerns can often be seamlessly tied into many research methods, allowing companies to gather demographic, preference, market, trend and liability data with the same research program."}],"tree":{"_id":"2ea61603f6e774f616000010","name":"The Voice of the Customer - How Market Research Leads to Product Success","publicUrl":"the-voice-of-the-customer-how-market-research-leads-to-product-success"}}