RESEARCH METHODS USED FOR NEW PRODUCT DEVELOPMENT
In a certain company who would like to develop a new product or products, there are many methods to be used so that they can develop a quality products and services that they can cater to the public. Technically there are two new products in the company, the first one would be a new product that is new to the company and the other one would be a new product that is new to the market. These vary widely in research methodology because of its differences in nature.
A new product that is new to the company but already accepted in the market is a product that is already available but has not been included in the product line of a certain company. To easily understand let us take the company of Coca-Cola, they are leaders in light beverages but they have not attempted to go into clothing industry. If Cola-Cola would engage in a business of clothing industry then they will be having a new product but in the market it is an old product since a clothing industry is heavily flooding the market.
A new product that is new to the market is really a new product that has not been introduced, to sight an example we would say a single vehicle that can transform to be used on Air, Land and Water would definitely be a new product since this kind of product has not been developed and no such product is available. This product is definitely a new product that has not been introduced in the market. This is not an exaggeration of facts but new products like this one would soon be a future trend if ever there would be a vehicle as good as this one.
Now that we know the differences between a new product in the company and a product that is new to the market, then we can now identify the research methodology that we are going to use to develop such products.
A new product that has been accepted in the market would only need a slight identification or changes in features and appearance since it is already known and appreciated by the public although sometimes it may take time to launch it to the market. A company who would like to develop a new product can simply imitate or override with the research methodology of the pioneering company; they can simply ride on to the techniques to develop their products much better than the market leaders. Example is the computer and cell-phone or the typewriter to computer. It grows beyond leaps and bound, every year a new product which is far better than today.
New products start and developed because of a basic needs, this is definitely true, most products start with the needs and most scientist develop their products that are highly needed. Ex. is Medicine, Cars, House, and Electricity etc. So we are going to focus on the research methodologies of new products that are new to the market. Generally these are Products and Marketing Research Methods;
· General Market Survey - A general survey for all residence is conducted. Company would gather figures and facts, interview people about the needs in the community; for example in a heavily isolated area where there are no transportation or communication, or an area where there are people susceptible to unknown disease ex: SARS in China or the nuclear flow in Japan. Companies have tried to find medicine that can prevent this isolated cases and disease so that people would be cured. Through this method they can come up with the hypothesis of what kind of product they are going to develop.
· Personal Interview – Same goes through the Market Survey but this time there are series of question applicable only to the people who are suffering or needing the products they are going to develop; as for China’ SARS, they are going to conduct a personal interview of people who are suffering from the disease.
· Data Gathering – If the company can get an actual materials or fossils needed to develop new products then the will gather data of what is best to use or decline, they are going to canvass materials for experimentation and conclusive observation to succeed.
· Experimentation and Observation – Depending on the volume of Surveys and Interviews and Materials they have gather, this time it will be brought to the office or laboratory for observation of what really is needed in this area. This time they are going to do an experimentation to create the final conclusion of what product they are going to develop.
· Actual Testing or Sample – All new products need to be verified and tested to prove its worth. This actual activity can also be a part of promotion or advertisement of new product launching. If they have proven that the product is worthy, then basically the company is then ready to mass produce their new product to the market. And basically these are the general methods of research used to develop new products and services.
Credit:ivythesis.typepad.com
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