New Product Development
New Product Development (NPD) is a systematic and methodic process to develop a product and successfully introduce it on the market. Based on idea generation, there are two important processes that run parallel to each other
- Development, construction and design of the product
- Market strategy, market research and market launch at the end
Emergent Actio can support this process with various measures. They differ depending on the phase of the development process:
- Delivery of basic data for SWOT analyses
- Determining market trends
- Support for idea screening by using empirical data to evaluate the idea
- First assessments and success criteria for customer benefits und value proposition
Development, construction and design of the product
- Obtaining empirical data (qualitative and quantitative) to evaluate product features and types of uses
- Concept testing and questionnaires
Market strategy and market research
- Market potential analyses
- Competition analyses
- Target group specification
- Expectations and acceptance by potential customers
- Price research
The results will show you the potential of your developments on the market, how you can maximize it and successfully introduce the product.
Furthermore, the above methodology delivers information that can be used in the context of Business Model Canvas.
It is important for us in the process to use methods of market and marketing research that further innovations, instead of preventing them. For more details see also Innovation Market Research.