What is a new product? Studies show that only about 10% of new products are really new, i.e. products that are innovation for the market.
In 20% of cases it is about new product line of an already existing product; in 25% - about an improved version of well known product; other 25 % - to change the product category. Last but not least, in 20% of cases - to re-launch or change the value of a known product.
Studies show that only one third of new products in existing product categories achieve market success also.
Risk of failure is high. It evokes an acute need for research support throughout the whole process from birth of a new idea to introduction of the product to the market.
We have a variety of research tools for each stage of developing a new product - from concept evaluation of the product through attributive test of the product to assessment of market chances of the product.