Timely, well-planned and executed market
research consulting can be critical in product development. It aims to demystify the market mindset and the required
changes for optimal growth.
Product development usually
encompasses two aspects –– launching a new product or
bringing improvements to an existing one. It can be seen as the natural cycle
of any product ––
from its launch to its old age. In the
context of today’s ever changing market,
planned product development is not a marketing fad, but a critical requirement.
Market research can play a crucial
role in product development. Big companies spend millions of dollars through
their R&D departments for just this purpose. Market research consulting
is another affordable alternative. But first let us see how a consultant can
help in product development.
