This study included designing and conducting primary research to explore the most desired features of a potential new product among members of the target market. The project started by conducting focus group sessions to gain a better understanding of the desired product features. The focus group information was used to guide the development of the survey questions. The survey was sent to members of the target market audience; the results were analyzed; and a report was prepared for management. When the desired product attributes identified in the research were compared with the engineering and production costs of obtaining those attributes, it was determined that the new product line would not be pursued, as it would be too difficult and expensive to manufacture and ship the finished product. By avoiding the costs of designing, manufacturing, and promoting a product that would have ultimately not met the market’s expectations, the research provided the insight that led to the decision that saved the client a tremendous amount of money.
- Based on the research findings indicating what would be required to differentiate its product from the competition, the client decided to abandon plans for the new product
- The client’s decision spared the tremendous expenditure of time, energy, and money on the cost of promoting the new product as well as the design, testing, and manufacturing of a product that would ultimately prove unprofitable