Product research as a tool for building a brand is a process that allows you to understand the needs, preferences, and opinions of customers regarding the products or services offered by the company. This enables the adaptation of the offer to market expectations.
Product research in the context of brand building
Product research is one of the key elements of brand research, as it allows for the assessment of customer satisfaction and loyalty, as well as the identification of the strengths and weaknesses of the offer. The research can be conducted at various stages, such as before market introduction, during use, or before withdrawal from the market. It can also cover different aspects, such as quality, functionality, appearance, packaging, price, availability, competitiveness, and image.
Product research in a nutshell
Product research is a process that allows you to understand the needs, preferences, and expectations of customers and adapt the offer to them. Product research has many goals and benefits, such as:
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Increasing sales and customer satisfaction by delivering products that meet their requirements,
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Reducing the risk and costs associated with introducing new products or modifying existing ones by testing them on the market before full implementation,
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Gaining information about the competition and market trends that can help create a unique marketing strategy,
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Improving the product design and development process by incorporating user and expert opinions at various stages of production/creation.
Product research can also be divided into two types. Both types of research are important and complement each other, allowing for a complete picture of customer needs and expectations and product potential.
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Qualitative research, which involves collecting deep and detailed information about customer behaviors, motivations, and opinions through methods such as interviews or focus groups,
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Quantitative research, which involves collecting numerical data about the size, characteristics, and preferences of the market, for example, through surveys.
Planning, execution, and analysis. How to do it?
Before introducing your product to the market, you need to check whether it meets the expectations and needs of potential users. Analysis and utilization of results are the culminating moments in the entire process of product research. To effectively analyze and utilize product research results, the following steps should be applied:
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Define the goal and scope of the product research. Determine what you want to learn about the product, what your assumptions and hypotheses are, what research methods you will use, and what success criteria you will adopt,
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Then conduct the product research according to the planned scenario and methodology. Collect quantitative and qualitative data from the selected group of users or potential users of the product, observing their behaviors, reactions, and opinions about the product,
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Analyze the data collected during the product research. Use appropriate tools and analytical techniques, such as statistics, data visualization, coding of open responses, thematic analysis, or sentiment analysis. All this is to extract the main conclusions and findings from the product research.
The last and most important step is to utilize the results obtained from the product research. Based on them, identify the strengths and weaknesses of the product, and confirm or reject your assumptions and hypotheses. Determining areas for improvement and product development is also possible thanks to the received analysis.
- Companies often wonder whether to conduct product research before it reaches consumers. I think they should ask another question, namely, can the company afford the risk. At the planning stage, a mistake can be eliminated, which will decide the success or failure of the product. As a result, we get a product that better meets consumer needs - adds Dr. Monika Jaremków, Director of R&D at the Biostat Research and Development Center.
