“Before anything else, preparation is the key to success.” – Alexander Graham Bell
You have a great idea for a new product or launch. You are certain that people will want to buy it. It seems so obvious that it can hardly fail.
Unfortunately, nothing in life is certain. You might not remember Clairol launching “A Touch of Yogurt” shampoo, Google selling the wearable tech of “Google Glasses” or toothpaste brand Colgate’s frozen food range. But millions of dollars was spent on all of these launches over time.
None of these are necessarily bad ideas. Some were misunderstood, others simply ahead of their time. But they were failures. There’s no shame in failure. Indeed as someone who had a few good ideas – Thomas Edison wrote: “I have not failed. I’ve just found 10,000 ways that won’t work.”
However there’s one way to help avoid plunging absolutely everything into a disaster – and that is market research.
Finding out exactly what the public thinks about a certain idea, can sharpen your focus, help you avoid pitfalls and foresee any major problems.
A wide range of opinions and answers will give you insight on how your product or launch will go down. You may even discover a way to pivot entirely based on the responses. It can certainly be something to rely on or help you sell an idea to get people in your organisation onside.
At Perspectus Global, we can help you test out an NPD concept via quantitative surveys, and qualitative methods such as focus groups. For more info about how we can help, get in touch info@perspectusglobal.com