Figuring out where your product will live is a key to brand success.
Knowing what’s going on in the world that your brand lives within might seem like a no-brainer. This intuitive research phase is such a critical step in product development. One that requires your undivided attention.
Market Research Provides Insight
Even if your brand has been in the market for a while, things change all the time. In our post-pandemic environment, it seems like everything has changed. Brands are taking the opportunity to update or reinvent themselves. Consumer habits have changed which has impacted timelines and trends. If you’re planning to launch a product now, there’s nothing more important to its success than doing research.
What research will uncover:
- Demand. Is there a place for your product in the marketplace right now?
- Trends. How are people adopting and using specific products?
- New Concepts. Is there anything new and innovative out there?
- Manufacturing. Has there been any change in sourcing and manufacturing?
- Improve vs. Introduce. Do you need to launch a new product or improve on an existing one?
All of these things will help to influence how you move beyond the research phase in the Product Development cycle.
Feedback Provides Product Direction
Collecting and utilizing feedback is part of the research phase. Feedback provides you direction; a place to jump off from while you’re diving into the world of research. At MESH01, our platform allows you to access feedback from three crucial points in a product’s lifecycle:
These three phases of the product lifecycle represent the beginning, middle, and end of that product’s development and can provide some of the richest data. Why? Because that data is feedback provided directly by your core customer. They’re the people who are buying your product and have an affinity for your brand. They are your biggest supporters (and sometimes critics) and ultimately want to see you succeed because they benefit from your well-thought-out products.
Once you digest and apply the right feedback, you’re ready to begin the design phase.
For the first half of 2024, we’re going to be releasing informed content related to the Product Development process. We feel that there’s never been a better time than right now to share the tenets of this process, as well as our experience with it and how we’re prepared to help your brand take it on, head-on.
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