NEW PRODUCT DEVELOPMENT
New Product Development
Only 10% of new products and services succeed. Post mortems indicate the keys to success: address (and stress in communications) the unmet needs of the target audience, and identify the features and price point that are optimal in terms of appeal and profitability...and do market research to ensure you find this formula.
7 Iron Consulting has optimized hundreds of products and services. The effectiveness of our approach is demonstrated in our book, “Market New Products Successfully.” Our approach includes brainstorming a multitude of alternative strategies and testing these in “simulation” research. The end-result is the optimal strategy: Targeting, Positioning/Messaging, Product/Service features, and Pricing. And, in the hands of an expert, the work can be done quickly and cost-efficiently.