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Market research for new product the market research process

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Presenting this set of slides with name - Market Research For New Product The Market Research Process. PPT design can be viewed with Google Slides and MS PowerPoint software. Slides are instantly downloadable on a single click; can be downloaded as JPEG and PDF format. Easy and smooth editing available; can be edited by anyone even without any specific knowledge. Guidance for making changes has been provided by our professional experts. High quality images and icons are used in this design.

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Content of this Powerpoint Presentation

Description:

This slide presents a structured outline for "Market Research for New Product (Option 1 of 2)" and is divided into two parallel processes: The Market Research Process and The New Product Development Process.

On the left, The Market Research Process includes:

1. Primary & Secondary Research into Consumer Views and Product Needs: This step involves gathering initial data and insights about consumer preferences and product requirements from existing sources and new research.

2. Concept, volumetric, and packaging testing: This is the phase where the concept's appeal, the potential sales volume, and packaging options are evaluated.

3. Consumer usage Research: Researching how consumers use the product provides valuable feedback for further development.

4. Pre-testing of Image and Advertising Research: Here, the product's branding and advertising strategy are tested before a full-scale launch.

5. In Marketing monitoring: After the product is in the market, ongoing monitoring helps to gauge performance and make any necessary adjustments.

On the right, The New Product Development Process includes:

1. Identifying Consumer views and product needs: Similar to the market research phase, this step focuses on understanding consumer requirements for the new product.

2. Product concept and packaging development: Based on insights, the product's concept and packaging are developed.

3. Testing the product: Prototypes or initial versions of the product are tested to refine it further.

4. Brand Positioning and Advertising Development: Strategies for branding and advertising are crafted to effectively position the product in the market.

5. Product Launch and post Launch: The final step involves launching the product and ongoing activities after the launch.

Both processes are integral for the successful launch of a new product, and their synergy ensures that the product is well-researched and fits the market demand.

Use Cases:

This slide can be utilized in various industries:

1. Technology:

Use: To guide the launch of new tech gadgets or software.

Presenter: Product Manager.

Audience: Product Development Team.

2. Consumer Goods:

Use: For strategizing the introduction of new consumer products.

Presenter: Brand Manager.

Audience: Marketing and Sales Team.

3. Healthcare:

Use: Developing and launching new medical devices or pharmaceuticals.

Presenter: R&D Manager.

Audience: Research and Development Team.

4. Automotive:

Use: Outlining the market strategy for new vehicles or automotive features.

Presenter: Marketing Director.

Audience: Automotive Design and Engineering Team.

5. Food and Beverage:

Use: To plan market entry for new food products or drinks.

Presenter: Product Development Specialist.

Audience: Culinary and Marketing Staff.

6. Financial Services:

Use: Launching new financial products or services.

Presenter: Product Innovation Lead.

Audience: Bank or Financial Institution Executives.

7. Entertainment:

Use: For market research and development of new entertainment content or platforms.

Presenter: Content Strategy Manager.

Audience: Creative and Production Team.

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