New Product Research
Conventional new product research can be misleading. After all, why is the failure rate for new products so high?
Our approach is unique:
We uncover gaps and flag problems that would otherwise work against your new product’s success. Combining analytics and Competitive Intelligence, we then assess the likelihood of your product concept succeeding.
Market Opportunity Assessment
We identify whether an opportunity exists, define this opportunity and provide market entry recommendations.
We obtain in depth answers to such questions as:
- “How big is the market?”
- “Is the market growing?”
- “What are the key drivers for demand?”
- “What are the barriers to entry?
- “Which customers account for majority of sales?”
We then reach out to your prospective buyers to uncover which suppliers they use, why they chose these suppliers, how often they purchase, how much they purchase, and what would make them switch to a new supplier.
Sales Win/Loss Analysis
Sales win-loss analysis/research is obtaining insights from your buyers about how your sales team performed in pitching new business. The goal is to get feedback to improve messaging and uncover reasons when they did not win the business.
To raise sales presentation effectiveness, we ask your buyer:
- Who else was competing for the business?
- Did your presentation generate confidence or create doubt?
- Did your sales people display a hunger for the business?
- How has the buyer’s perception of your company changed?
- What their suggestions are for your reps to improve.
And, we provide you with an easy-to-follow scorecard.
|VENDOR PERFORMANCE RANKING||(1=Poor;||10=Excellent)||ACTION STEPS|
|– Understood buyer’s needs||9||6||Increase preparatory research|
|– Took their time||8||9||None|
|– Knowledgeable||8||5||Run product workshops|
|– Well organized||9||6||Conduct rehearsals|
|– Clarity of product differentiation||7||4||Update sales literature|
|– Gave suggestions||7||8||None|