NEW PRODUCT RESEARCH: LAYING THE FOUNDATION FOR NEW PRODUCT SUCCESS
In this 2-day seminar, you will learn how to design and implement marketing research studies to guide the new product development process. Specifically, you will learn customized, standardized and proprietary research methods used by professionals to:
- Develop an integrated new product development process from idea to launch.
- Create and develop concept ideas and statements.
- Understand the key components of a new product sales forecast.
- Optimize feature combinations using conjoint
analysis to meet the needs of various demographic or behavioral based
- Assess performance of new products under natural and simulated test market conditions to assess their trial and repeat purchase potential.
- Make decisions concerning brand name, package designs and positioning/repositioning.
NEW PRODUCT RESEARCH: LAYING THE FOUNDATION
FOR NEW PRODUCT SUCCESS Course Outline and Schedule
8:30 - 8:45 Introduction
8:45 - 10:30
NEW PRODUCT DEVELOPMENT PROCESS & MARKET DEFINITION:
The steps and stages in the new product development process;
the research needs during the various stages in the product life cycle and
the applicable methodologies; the market definition process, market
structure and segmentation.
10:30 - 10:45 Coffee Break
10:45 - 12:30 IDEA GENERATION:
Sources of new product
ideas; consumer and expert-based approaches to idea generation: ethnography,
co-creation qualitative, outcome-driven opportunity identification, etc.
Role of the customer and the marketer in ideation. Workshop on creating an
ideation research plan.
12:30 - 1:45 Lunch Break
1:45 - 3:30 CONCEPT EVALUATION:
system attributes, and sequential-monadic designs. Elements of successful
concept testing. Key considerations in presentation and evaluation of new
product concepts; what to include in a concept statement, workshop on
concept statement writing, how to design a concept test study and the
questionnaire, how to interpret the results; the purchase intent question
and the relationship between purchase intent and purchase behavior;
considerations for online testing: some problems with traditional concept
testing; naming research.
3:30 - 3:45 Coffee Break
3:45 - 5:00 CONCEPT/PRODUCT
Conjoint analysis: what it is, when to use it, how to use
it; case studies using conjoint analysis; alternatives to conjoint analysis;
variety optimization using TURF; price optimization.
8:30 - 10:30 CONCEPT/PRODUCT POSITIONING:
for positioning new concepts and existing products; use of perceptual
mapping and related techniques in positioning research; comprehensive case
study illustrating positioning a new product based on factor analysis.
10:30 - 10:45 Coffee Break
10:45 - 12:15 PRODUCT TESTING:
Key decisions in
product testing; interpreting product test data; packaging research; product
test designs for evaluating one, two or multiple products.
12:15 - 1:30 Lunch Break
1:30 - 3:15 FORECASTING:
Steps in planning a test
market, data sources and key measurements; simulated test market models (STM's),
how they work and when to use them; key components in a volume forecast;
forecasting principles; common sources of error. Workshop on designing a
forecasting research plan.
3:15 - 3:30 Coffee Break
3:30 - 4:30 LAUNCH MANAGEMENT:
checklist; the role of marketing research after product launch; sales and
consumer tracking; growth strategies; research for mature and declining