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Product Service Development

The Challenge

  It is well known that most new product launches will ultimately fail in the marketplace, generally in spite of substantial marketing research efforts conducted throughout the development process. While the most documented statistics on product failure come mainly from the world of consumer packaged goods, the stakes and the odds of failure may actually be even higher for durable products, services, pharmaceuticals, and other industries.

One of the main reasons for this problem, we believe, is that traditional research methods tend to be far better at measuring the past than at predicting the future. Recognizing this challenge, Burke has developed a suite of research techniques that support decision-making at every step in the process. Whether you are choosing which new ideas to invest in, preparing new concepts for launch, or improving existing products in a competitive context, Burke has a proven approach that will maximize your odds of success.


Thought Leadership

  We believe that to understand what consumers and decision makers will actually choose to purchase, the research context must be as realistic and similar to the "real world" as possible. Not only do we emphasize this core belief in Burke Institute seminars, we put it into practice in all our product and service development approaches. Product/Service Development research is executed in the most realistic setting possible, whether that is in stores or restaurants, in the respondent's home or workplace, or in simulated store environments. Within the appropriate setting, respondents are asked to make hypothetical shopping decisions or trade-offs among real alternatives and with all the information they would likely consider about each. By tightly controlling these variables, we collect data that accurately reflects the most likely outcomes for any given scenario.

Our Process

  Every business situation is characterized by unique challenges, requiring a unique solution. Burke researchers blend the scientific rigor of predictive statistical modeling with highly customized approaches. We take the time to build a relationship with each client and to fully understand the specifics of their organization, their competitive situation, and the marketing actions being considered. Then we develop a targeted research design that focuses on the exact information needed to make an informed decision. This method eliminates the need to rely on a database of the past performance of dissimilar products, choosing instead to employ sophisticated models customized for the unique needs of each organization. Using these techniques, we then provide easy-to-use simulation models and tools that allow our clients to explore a variety of what-if scenarios before making critical business decisions.

 

      
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