NEW PRODUCT DEVELOPMENT

New products are the lifeblood of companies, but unfortunately a risky proposition. Even with the right product at the right time, the road is fraught with hazards, and the window of opportunity to reap financial rewards is shrinking in many industries. So you need to get it right.

With millions on the line, keeping an an ear to the blogosphere can provide invaluable insights at every step of the product development process. Why? Just think how often you go to the web before making a purchase to see what others think abouit products or services. The online community has a LOT to say about what they buy, and can help answer questions such as the following in the concept and development stages:

• What consumer needs are unmet?
• What features are consumers looking for? Do the features differ among different demographic segments?
• What do consumers like or dislike about competitive offerings?

As you get closer to product launch, Umbria analysis can help you answer questions, such as:

• What is the pre-launch buzz about my product?
• What marketing messages are resonating with my target audience?

Finally, post-launch, Umbria analysis can help gauge reaction to make adjustments that can be critical to success.

• Is my new product resonating with my target audience?
• What other segments beyond my target segment are reacting with positive sentiment?
• How is my product being compared to that of the competition?
• Is my marketing message or promotion effective?

Market Intelligence & Recommendations

Umbria can tell you not only what is being said, but who is doing the talking, segmenting by age, gender, and sentiment. In addition, Umbria delivers not just data, but recommendations, helping your organization to plan during every stage of new product development.