October 17, 2019
Market research is the key to developing a customer-centric strategy and a well-structured battle plan for an organization’s product development activities. Product and marketing strategy, including specific go-to-market initiatives and plans, should focus on three basic elements: customer needs, business goals, and product design considerations. Strategies and tactical plans should include gathering secondary market intelligence and conducting primary market research in these key areas. Finally, preparing the organization for product planning includes aligning internal teams, engaging with research partners, and coordinating plans and actions among all stakeholders and partners.
Whether a company is planning to add a new product line, enhance an existing product, expand into a new market, or eliminate an unsuccessful product, this checklist will help organizations develop clear product and marketing strategies and sound tactics for going to battle.
Develop a strategy and structured plan that includes the following:
Gather intelligence and conduct primary market research across the three focus areas from the following:
Prepare the organization for product planning by aligning internal teams and stakeholders and engaging with experienced market research and product design and development partners.
Market research is the basis for successful product development and planning and is key to survival in the battle for new customers, increased customer retention, market share, and revenue growth. Before developing new products or feature sets, the focus should be on determining customer needs, business goals, and specific product design considerations using research to guide those decisions.
Levvel is a strategic, full-service technology consultancy that knows how to conduct market research and then execute on the research findings with agile product design and development. We help clients transform their business with strategic consulting and technical execution services, working with your IT organization, product groups, and innovation teams to design and deliver on your technical priorities. We have deep expertise in application development, DevOps, cloud technology, product innovation and design, market research, and payments.
For more information, contact us at firstname.lastname@example.org.
Research Senior Manager
Anna Barnett is a Research Senior Manager for Levvel Research. She manages Levvel's team of analysts and all research content delivery, and helps lead research development strategy for the firm's many technology focus areas. Anna joined Levvel through the acquisition of PayStream Advisors, and for the past several years has served as an expert in several facets of business process automation software. She also covers digital transformation trends and technology, including around DevOps strategy, design systems, application development, and cloud migration. Anna has extensive experience in research-based analytical writing and editing, as well as sales and marketing content creation.
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