consumer market research

( 1 ) 5 % 01 02 03 04 05 06 07 R Food Research Lab A Unit of guires HOW DOES MARKET AND CONSUMER RESEARCH HELP IN NEW PRODUCT DEVELOPMENT ? IDEATION Businesses can develop ideas for innovative products by analysing consumer preferences and unmet consumer needs . CONCEPT EVALUATION Consumer research allows businesses to evaluate product concepts , increasing the chances of product success . MARKET VALIDATION Understanding market demand and identifying target consumer groups can aid in the prioritisation of product features . COMPETITOR ANALYSIS Conducting a SWOT analysis helps businesses to differentiate their products from their competitors . PRODUCT FEATURES Market and consumer research helps in developing new products with unique features . UK : + 44-161 818 4656 India : +91 9566299022 PRODUCT TESTING Gaining feedback from consumers helps in making iterative improvements . POST LAUNCH EVALUATION Gaining and monitoring consumer feedback , analysing sales data and keeping track of market trends can lead to improvements in the product . de t Y f [email protected] www.food researchlab.com