Your Products

The Challenge

The cannabis market is characterized by a large number of companies selling as much as they can, of whatever they can, to whoever they can. Unfortunately, the renegade buying pattern of consumers today cannot and will not last. Consumer scrutiny will increase, price sensitivity will grow, and the products that last will be those that are supported by disciplined thought from the get-go.

Successful new product development is a detailed, phase-gate process that demands well-organized strategy and multi-source decision support at every step along the way.
 
How Research Can Help

New product development research can drive critical decisions at each point in the process. Without it, companies are destined to make ill-informed decisions and to repeatedly offer products with no real shelf life or chance to succeed. In contrast, well-informed product development can be supported by targeted research at each of the following stages:

  • Creating a set of new product concepts through organized ideation;
  • Filtering a large set of concepts into a more targeted and usable set of well-founded ideas;
  • Refining new product ideas into concrete products that are defined by specific price points,
  • customer benefits, and messaging; and
  • Testing refined ideas to ensure that the products will be viable in the marketplace.

 

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