“Evaluating the potential of a market, the status of the offering and the demand for a given product” is the general definition of market research. Out in the field, more subtle realities coexist. UMI sheds light on the methods used and purposes for carrying out market research for innovative projects. Let’s begin with a definition …
Each day, consulting firms (whether or not they specialize in innovation consulting) seek solutions to improve the customer experience of owners of innovation projects. This is far from an easy task, because innovators’ needs and expectations are constantly changing. Let’s take the specific example of market research studies for innovative products. To ensure that their studies …
B2B consulting firms: the 3 main challenges of innovative products Read More »
LinkedIn Twitter Facebook According to the latest growth studies, the innovation consulting sector is doing well, with a number of specialist consulting firms being launched, whereas the majority of generalist consulting firms are choosing to increase their focus on innovation projects. Successful innovation has become imperative for businesses in all sectors, which promises a bright future …
Innovation consulting firms: what innovation project owners expect of you Read More »
The days of relying solely on past experiences and knowledge to make sound innovation decisions are gone. Analytical intelligence alone isn’t cut out for innovations previously unseen and unexperienced by the market. Thus, innovative market intelligence is fundamental for a new product’s success.
Often, companies have ground-breaking ideas but lack the organizational structure to get them off the ground. The more strategic and methodic your innovation and decision-making process, the higher the chances of the innovation thriving in the market.
Innovation is probably key for any company wanting to make their mark in their industry. Many have created teams, events, and initiatives to stimulate innovation in their company. But innovation can’t simply be summed up in a single declaration. Innovation for innovation’s sake alone serves no purpose.
Sometimes life turns up some amazing surprises. Not only has your innovation got potential in the market, but there are also additional applications to which your project could be applied. Whilst these sectors weren’t originally planned for at the start of the project, they certainly deserve some attention. Let’s see.
You’ve decided to conduct a market research study. Well done ! You clearly know what you want to get out of it ? You’re definitely on the right track. Here are some tips about what to ask and how to ask it.
B2B research is immensely useful and often vital in order to stay relevant, competitive and profitable. Here are three big B2B market research challenges and how to overcome them.
You are aware that a market research sheds light on which of your innovations are relevant and which may need to be forgone. It can also be a tool for validating the commercial potential of your innovation, finding strategic partners and even acquiring more commercial leads. But what else can your research report tell you? The answers may surprise you.
Most of businesses fail are due to poor market research. Getting yours right is critical for the success of your innovation projects, as well as for your investors, partners and banks. What is the ideal market research process to lead a winning entreprise ?
You need the competitive intelligence, market awareness and strategic insights that will help make your innovation thrive. You need an ace up your sleeve: market research. But how do you know which type of research is the most advantageous for your business?
B2B market research studies is an essential step to validate the potential of your product. What you may be less aware of is that market research studies can also help gains credibility, visibility, and expertise to find partners such as distributors, suppliers and even clients.
The purpose of managing an innovation portfolio is to create favorable conditions to develop concrete innovations.
From validating the potential of your innovations, to captivating your investment committee, find out how to easily manage your patents.
No-Go is NOT a failure. Instead, it’s proof of your ability to accept reality. Paradoxically, the earlier it occurs in a project, the more time you save. But how do you proceed in order to reorient your project correctly
Faced with traditional market research studies with their reputation for being costly and time-consuming, automated market research studies are gaining popularity amongst innovative companies that need fast, reliable responses at an affordable price. But how does automating market research reduce costs?
Your company can innovate on many levels: with products or services, sales, distribution methods, production methods, or even organizational methods. From increasing your productivity to developing brand image, innovation is now an essential step for your company. Here’s why.
For budget reasons, you’ll likely be tempted to carry out the market research yourself without using any specialist tools. There are however many disadvantages to this method that could impact the performance of your market research and thus its results.
If you want companies and investors to be interested in your innovation, you need to convince them that your project offers a lucrative market opportunity with little risk. How do you accomplish this? By simply measuring the market potential of your innovations. But to do this, you need to know the right questions to ask before you launch.
When you carry out an exploratory market study you have to handle negative feedback. Don’t panic. Negativity is not an end in itself. It can easily be turned into positive insights to create value for your innovation.
If you want to found a company or successfully lead an innovative project, market exploration is a fundamental step. The basic aim of this study is to quickly determine the information needed to identify your business opportunities to rapidly launch your product onto the market.
Does the product respond to an existing need, will customers be willing to pay the asking price? Is the product likely to be well received by distributors? In short, does your innovation have a real potential? So many questions that make it interesting to analyze your environment, to study the possibilities and to define if your innovation is worth it. Well, where to start?
Whilst it may be true that is becoming easier to carry out “bad” market research, it is also a fact that the democratization of access to powerful tools opens new avenues. The field of market research has disruptive innovations, just like any other field. These are opportunities for all concerned to move closer to greater efficiency and relevance at lower cost.
Innovation is hard, you make mistakes sometimes, but their is some kind of innovation mistakes you must avoid to do if you want to lead a winning entreprise. Here’s the list.
In 2015, it’s has been estimated that patent trolls cost the economy $29 billion a year. It is widely acknowledged that a patent troll, is the pet peeve of all entrepreneurs. That’s why we want to give you all the essential tips to deal with those ugly goblin.
