While technology has made gauging market response infinitely easier, the ultimate end-goal of a transformational product strategy remains the same: to introduce highly profitable new products/services.
New products and services are the lifeblood of a company, but identifying and optimizing meaningful innovations–products and services that are not only appealing, but also highly profitable–is extremely difficult. You need to get a product and pricing strategy in place that will minimize risk and maximize growth.
We bring experience working with companies at all stages of the product strategy development process to:
- Generate ideas and discover new product and service opportunities give a specific customer target and positioning.
- Configure the most profitable combination of features, benefits, and price.
- Test thousands of alternative concepts in terms of sales potential and profitability, not just product appeal.
- Develop a detailed marketing plan that supports product strategy success.
- Forecast month-to-month performance of the plan in terms of brand awareness, trial, repeat purchase, revenues, share, and profitability.
The end result of our product and pricing strategy work is a fully-configured, highly profitable product or service concept and/or pricing recommendation that represent the best opportunity for innovation and market expansion. You will also have the ability to test different marketing plans and budget allocations, as well as understand the effects of potential competitive response.