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Market Research in Product Innovation

Market Research in Product Innovation

Market Research includes all activities that increase knowledge about customers and markets to increase the likelihood of product success. It can occur as a continuous activity to measure a market’s pulse, to predict the magnitude of competitive moves, or to anticipate trends. Additionally, market research can occur as a series of projects to support a specific initiative.

Market Research uses scientific practices that use qualitative (customer interviews, focus groups, ethnography, etc) and quantitative methods (surveys, statistical data analysis, etc.)

Prior to ideation, market research informs which customer needs a new concept should address. After ideation, market research provides feedback about the concept itself along with specific commercial insights (SKU mix, volume estimates, pricing, etc.)

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PDMA Body of Knowledge: Market Research in Product Innovation Insights #3

Viewpoint Blog | July 19, 2021

PDMA Body of Knowledge: Market Research in Product Innovation Insights #4
Scott Burleson

If you’ve worked in marketing long enough, you’ve probably had the pleasure of creating value propositions backward. What does it mean, to create value propositions backward... [Read more]

Idea Generation in 21st Century

VIEWPOINT BLOG | June 16, 2021

Idea Generation in the 21st Century - an interview with Ty Hagler of Trig
Scott Burleson

Alex Osborn, an advertising executive, began documenting creativity as a process in the 1930s. Even today, we credit Osborn with key brainstorming tenets, such as deferring judgment... [Read more]

Confidently Creates Customer Value with Every Product Innovation

kHUB Article | May 7, 2021

Confidently Creates Customer Value with Every Product Innovation
Tony Ulwick

Product managers are critical to a company’s success. An article published by McKinsey went so far as to call them “mini-CEOs,” as they are responsible for what is arguably the biggest contributor to creating... [Read more]

PDMA Body of Knowledge: Market Research in Product Innovation Insights #3

Viewpoint Blog | April 15, 2021

PDMA Body of Knowledge: Market Research in Product Innovation Insights #3
Scott Burleson

When executing market research for innovation, it's important to keep the end in mind. Or at least to keep the next step in the process in mind. This next step? It's usually an ideation session. For the practical market researcher... [Read more]

When You Built It, But They Didn't Come

PDMA Webcast | March 23, 2021

When You Built It, But They Didn't Come
Rachel Rapoza

A lot of B2B companies have great products, but unfortunately, a lot of companies also struggle to effectively communicate the value of their products - or worst, they sound like everyone else. For some, great product messaging and positioning may seem... [Read more]

PDMA Body of Knowledge: Market Research in Product Innovation Insights #2

Viewpoint Blog | February 25, 2021

PDMA Body of Knowledge: Market Research in Product Innovation Insights #2
Scott Burleson

Market testing, otherwise known as “concept testing,” is the process of bringing a concept to a customer for their feedback. This can be done at various points of the new product development process... [Read more]

Frequently Encountered Quandaries (FEQs) in Jobs to be Done Innovation Research

PDMA Webcast | February 18, 2021

Frequently Encountered Quandaries (FEQs) in “Jobs to be Done” Innovation Research
Steve Hansen

This webcast will provide Innovation and Product Development and Management professionals with practical knowledge and know how on how to apply and leverage the JTBD framework to succeed in a... [Read more]

Use Needs-Based Segmentation for Innovation

kHUB Article | January 12, 2021

Use Needs-Based Segmentation for Innovation
Scott Burleson

Market segmentation is the process of dividing a market into smaller bits. For instance, you could segment by product, geography, customer type, value chain position, and so on. The variables of segmentation vary... [Read more]

Create Brand Stories That Buzz

PDMA Webcast | December 17, 2020

Create Brand Stories That Buzz
Arjun Sen

Based on high-impact brand origin & founder stories Arjun has created for brands. Customers decide emotionally and justify rationally. In a world where most businesses scream their brand features, Arjun has created crisp purposeful stories that break... [Read more]

PDMA Body of Knowledge: Market Research in Product Innovation Insights #1

Viewpoint Blog | October 9, 2020

PDMA Body of Knowledge: Market Research in Product Innovation Insights #1
Scott Burleson

Without proper market research, companies are treating new product development like a casino. Hoping and wishing for successes. After all, innovation is a problem-solving process. It’s just that we’re solving... [Read more]

What about Design Newness?

JPIM Article | October 7, 2020

What about Design Newness?
Katrin Talke, Sören Salomo, Jaap E. Wieringa and Antje Lutz

In several industries, new products are very similar in functional features but compete on their unique design. Firms like Alessi, Apple, Bang & Olufsen, Dyson, or Kartell all follow a design‐driven innovation approach... [Read more]

Design, Meanings, and Radical Innovation

JPIM Article | October 7, 2020

Design, Meanings, and Radical Innovation
Roberto Verganti

Recent studies on design management have helped us to better comprehend how companies can apply design to get closer to users and to better understand their needs; this is an approach usually referred to as user‐centered design. Yet analysis... [Read more]

How the Landscape of Market Research is Changing Faster, Better Insights with AI

kHUB Article | July 29, 2020

How the Landscape of Market Research is Changing Faster, Better Insights with AI
Kristyn Corrigan

Machine learning is an increasingly prevalent term in today’s market research landscape. But what is it and why is it so important? The ultimate measure of successful research in a mature and well-understood... [Read more]

Virtual VOC: How to understand B2B customer needs… without the plane ride

PDMA Webcast | July 16, 2020

Virtual VOC: How to understand B2B customer needs… without the plane ride
Dan Adams

Dan Adams of the AIM Institute has taught tens of thousands how to interview customers in-person and through web-conferences. Because of today’s travel restrictions, AIM has taken virtual VOC (VVOC)... [Read more]

Machine Learning: Leading the Insights Revolution

PDMA Webcast | May 21, 2020

Machine Learning: Leading the Insights Revolution
Gerry Katz and Kristyn Corrigan

Machine learning is an increasingly prevalent term in today’s innovation landscape. But what is it and why is it so important. The ultimate measure of successful innovation in a mature and well-understood category... [Read more]

Impact Matters: How to Design with Empathy and Leave Your Biases Behind

PDMA Webcast | September 19, 2019

Impact Matters: How to Design with Empathy and Leave Your Biases Behind
Alexandra Lung

Empathy requires us to put aside our culture, ideas and worldview in order to truly understand other peoples’ experiences. But most of the times, empathy is blinded by our own biases. As Product Managers and... [Read more]

Toward A Theory on the Reproduction of Social Innovations in Subsistence Marketplaces

JPIM Article | September 8, 2019

Toward A Theory on the Reproduction of Social Innovations in Subsistence Marketplaces
Laurel Steinfield and Diane Holt

Social innovations and their diffusion are critical in bridging the multiplicity of deprivations experienced by those in subsistence contexts. Yet they often do not... [Read more]

Being Innovative While Being Green

JPIM Article | September 6, 2019

Being Innovative While Being Green
Nicholas G. Paparoidamis, Thi Thanh Huong Tran, Leonidas C. Leonidou and Athina Zeriti

Eco‐innovations are an effective way for companies to strategically align themselves with customers’ growing environmental concerns. Despite their crucial role, scant research has focused on eco‐innovative... [Read more]

Looking for a Needle in a Haystack

JPIM Article | August 28, 2019

Looking for a Needle in a Haystack
Daniel J. Kruse, Moritz Goeldner, Katrin Eling and Cornelius Herstatt

The worldwide increase in societal challenges is putting pressure on humanitarian organizations to develop sophisticated approaches to leverage social innovations in the humanitarian sector. Since humanitarian... [Read more]

Lessons from Behavioral Science: A Great Product Isn't Enough

PDMA Webcast | September 20, 2018

Lessons from Behavioral Science: A Great Product Isn't Enough
Stephen Wendel

People don't always do what they say – or even what they sincerely want to do. That’s true in daily life, and it’s true in our products and with our users. Research in behavioral science can help us understand why good... [Read more]

So, Who's the Customer? Dealing with Complex Value Change

PDMA Webcast | April 11, 2017

So, Who's the Customer? Dealing with Complex Value Change
Gerry Katz

During this webcast, Gerry Katz will explore the complexity of managing the needs of many relevant 'customers' in business-to-business (B2B) product development. At the beginning of any new... [Read more]

A Novel Approach for Predicting and Understanding Consumers' Sense of Design Similarity

JPIM Article | February 17, 2017

A Novel Approach for Predicting and Understanding Consumers' Sense of Design Similarity
Thomas F. Schreiner, Thomas Fandrich, Mark Heitmann and Katrin Talke

Product designers continuously emphasize how important yet difficult it is to create new products with designs similar... [Read more]

Collecting Product Input Through a Well-Managed Customer Advisory Board Program

PDMA Webcast | November 2, 2016

Collecting Product Input Through a Well-Managed Customer Advisory Board Program
Eyal Danon and Gavin Nathan

Collecting Product Input Through a Well-Managed Customer Advisory Board Program is led by Eyal Danon, founder of Ignite Advisory Group, and Gavin Nathan, founder of customeradvisoryboard.org... [Read more]

Surprising New Research on B2B-Optimized VOC

PDMA Webcast | October 27, 2016

Surprising New Research on B2B-Optimized VOC
Dan Adams

Surprising New Research on B2B-Optimized Voice of the Consumer: Evidence for What Really Works is led by Dan Adams, founder of The Advanced Innovation & Marketing (AIM) Institute... [Read more]

More Than Just Heat Maps: Using Eye Tracking for Product Development

PDMA Webcast | 2016

More Than Just Heat Maps: Using Eye Tracking for Product Development
Kirk Hendrickson

When developing a new product, one of the biggest challenges is predicting how the product will compete once it arrives in the store. Will the package draw attention? Will the most... [Read more]

5 Ways to Build Your Customer into the Front End of Innovation

PDMA Webcast | October 29, 2015

5 Ways to Build Your Customer into the Front End of Innovation
Gerry Katz

Incorporating customer input into innovation doesn’t have to be painful – in fact, it can be incredibly rewarding. Customer knowledge and empathy are the essence of the design thinking and lean startup models... [Read more]

The Missing Link in Open Innovation

kHUB Article | 2015

The Missing Link in Open Innovation
INPEX

The open innovation movement is in full swing, and companies everywhere are turning to external sources for new product ideas. But, with open innovation now the standard business model, how can your company truly gain a competitive advantage... [Read more]

Value Creation, Value Added, and Other Clichés

PDMA Webcast | October 30, 2014

Value Creation, Value Added, and Other Clichés
Gerry Katz

During this webcast, Gerry Katz will explore new ways to think about “value” that, hopefully, will broaden individuals' approach to finding and creating it. The terms “Value Creation”, “Value Added”, and... [Read more]

Package Graphic Design

JPIM Article | September 1, 2014

Package Graphic Design
Franck Celhay and Jean François Trinquecoste

Designers and marketing managers often agree that visual codes, in terms of product and package design, typify certain product categories. These “category‐based visual codes” refer to the formal and graphic characteristics most frequently seen... [Read more]

Reinventing VOC for B2B

PDMA Webcast | December 12, 2013

Reinventing VOC for B2B
Dan Adams and Dave Loomis

This webcast covers four awkward realities and 12 new rules that offer a great summary of topical points for Product Developers involved in Business-to-Business (B2B) organizations. With the Webcast you'll receive a free interactive e-book “Reinventing VOC... [Read more]

Hijacked Again! Three Trends in the Field of VoC

PDMA Webcast | June 27, 2013

Hijacked Again! Three Trends in the Field of VoC
Gary Katz

In short, VoC is and always has been about the study of customer needs (see Figure 1) and was intended for developing new or improved products, designing new or improved services; and improving... [Read more]

Learn Social Networking from IBM

PDMA Webcast | June 20, 2013

Learn Social Networking from IBM
Ed Brill

Can social networking help you build better products or be a better product manager? According to IBM executive and author Ed Brill, the answer is yes. In this webcast, Brill discusses “Opting In,” lessons in merging product management and... [Read more]

Embrace Change by Embracing Innovation

kHUB Article | 2013

Embrace Change by Embracing Innovation
Gaurav Bhalla

The business world has always had a contradictory attitude toward change. At a cognitive level, companies acknowledge that ignoring change can be dangerous to their health—sometimes even fatal. However, that acknowledgment doesn’t always... [Read more]

Navigating the Conjoint Analysis Minefield

kHUB Article | 2013

Navigating the Conjoint Analysis Minefield
Steve Gaskin

Has this ever happened to you? Your client, who is a major manufacturer of high-speed color printing equipment, has hired you to perform a conjoint analysis, and in the process of designing the study, has told you that he is “100 percent positive” that his... [Read more]

A Framework for Understanding Emerging Consumer Needs

kHUB Article | 2013

A Framework for Understanding Emerging Consumer Needs
Andy Hines

New product developers are constantly searching for emerging or latent needs. It has almost become truism that one cannot simply ask consumers about their future needs—consumers don’t know. So, it is left to... [Read more]

How to Buy Market Research: Becoming a Smarter Client

PDMA Webcast | February 9, 2012

How to Buy Market Research: Becoming a Smarter Client
Gerry Katz

Much has been written about how to be a good consultant – what pleases clients and what annoys them. In this highly informative and entertaining on-demand webcast, long-time market researcher Katz... [Read more]

10 Ways to Screw Up Your VOC

PDMA Webcast | July 26, 2011

10 Ways to Screw Up Your VOC
Gerry Katz

Voice of the Customer projects are no walk in the park. Even the most seasoned product innovation and development professionals can find themselves stumbling in the realm of VOC. This webcast, 10 Ways to Screw Up Your VOC, sponsored by... [Read more]

Tapping the Wisdom of Crowds to Predict the Future

PDMA Webcast | June 23, 2010

Tapping the Wisdom of Crowds to Predict the Future
Jared Heyman

For years, prediction markets have harnessed "the wisdom of crowds" to predict a variety of real-world outcomes with great accuracy, from movie box office receipts to election winners. Now the world's leading brands... [Read more]