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Product research allows one to collect credible information concerning consumer preferences with regard to proposed offer. It makes it possible to get more familiar and better understand the needs of decision-makers in the purchasing process, customers making purchases, and end users.

This type of research constitutes a valuable source of information about the possibility of boosting the value of a specific product in the eyes of a particular customer group. Conclusions from such research often determine the success or failure of a given offer available on the market. They may result in the development of breakthrough ideas and the creation of innovative products.

Product research yields data that is essential for effective product management at each stage of the life-cycle. It plays a huge role at the stage of concept development and market launch – allowing one to minimize the risks associated with misguided ideas. Yet, that research is of significant importance also at the stage of sale decrease – at that point it may become an important source of inspiration on how to prolong the product’s life.

Solutions for Offerings that Product Research Provides:

• Is there a need for a new product on the market? If “yes”, what features should it possess, how can it stand out from the already available offer and who will be interested in it?
• Does a given product meet all key consumer expectations? If “not”, what could be changed to make it respond to recipients’ expectations more?
• How is the product utilized? Does it, for example, have functionalities that are not used? If “yes” then why and what can be done about it?
• What drives the purchase of a given product? What really makes a difference for people making purchasing decisions?
• Is the product considered attractive in comparison with other competitive and substitute products on the market? If “not”, in the development of which features one should invest?
• Are promotional actions (packaging, logo, visual elements, catchphrases, advertising campaigns) effective and well-perceived by recipients? If “not”, which from the considered ideas should be implemented?