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Innovate or die
Innovation makes a significant contribution to growth and competitive advantage of organizations. Every year thousands of new products are launched into the market. Subsequently, established firms also must add innovations to their products to avoid obsolescence. Overall, the survival rate of many innovations is rather low because of their poor acceptance in the marketplace.
How to reduce the risks related to innovation?
Market research increases the chances of success of an innovation from its early stage of development. Market research allows you to identify opportunities and to adapt your product to the real needs of consumers.
When to conduct innovation research
There are three moments in the life of a company when the knowledge obtained from market research provides competitive advantage:
 Introduction. When a new product or service is being developed, market research can provide highly valuable insights through a better understanding of unstatisfied consumer needs.
Growth. Market research can help to achieve a higher ROI.
Maturity. When a product or service reaches its maturity, innovation research can find new opportunities for growth.
Our approach
Market research for the purpose of innovation is complex, especially when dealing with disruptive innovation. Hence, we seek first to understand consumers and their contexts. Then, we become facilitators of a co-creation process where consumers play a central role. As a result of that process, we can help you to fine-tune your business plan and to answer critical questions such as:
Are consumers truly interested in our new product or service?
What modifications should we make to our product to increase its acceptance in the marketplace?
What market segments offer more potential for our new product?
What is the potential market size? What sales volume can we expect?
What is the competitive environment? Who are our most important direct and indirect competitors?
What is the impact that our initiative will have in our franchise?
What is the optimal price for our product?
Tools
We consider that research tools, rather than an end, are a means to obtain relevant and reliable information for decision-making. Therefore, when recommending a tool or technique we adopt a holistic approach taking into account the market context and the strategic objectives of our clients.
Acertiva offers a wide range of traditional (focus groups, surveys, etc.) and emerging (virtual ethnographies, data mining, etc.) tools to respond effectively and efficiently to your questions related to your innovation projects.
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