Product Lifecycle Research

National Analysts works closely with clients to identify emerging needs, create responsive programs and maximize market performance throughout the product lifecycle by:

• Broadening understanding of the pre-launch environment and the contingencies for success in current and future marketplaces
  
• Helping to devise and fine-tune strategies that will create/increase product awareness and generate trial at launch/introduction
  
• Guiding and supporting clients' decision-making throughout the product growth phase when maximizing market share is the primary objective
  
• Helping to inform and guide strategies to maximize profit while defending market share during products' mid-life or maturity stage
  
• Working closely with clients during the product decline phase when extracting maximum returns from the brand is the primary objective.

Pre-launch ….

Clients from a broad array of industries rely upon National Analysts to help understand current and future market landscapes as they plan for new product launches.

For example, our Healthcare Practice works closely with pharmaceutical and biotech clients throughout the approval, clinical trials process to help clients gain a thorough understanding of the arena within which new products will compete, and their likely positioning and market penetration once launched.

Pre-launch research routinely involves qualitative and quantitative research to help clients successfully launch new products. Key questions/issues facing clients in the pre-launch phase and the methodologies used to address them include:

• Market needs, opportunity assessments and preliminary product positioning. Qualitative research (focus groups, one-on-one interviews) is often the starting point for needs/opportunity assessments and preliminary positioning efforts, while quantitative survey research often follows to further test and refine hypotheses derived from those efforts. Key questions focus on the perceived strengths and liabilities of current competitors and the nature and magnitude of unmet needs (opportunity) in the market; the extent to which the new product is perceived as addressing those needs; and the product features and benefits that will best differentiate and position it among key target audiences.
  
  
• Preliminary demand forecasts. Quantitative techniques like conjoint and discrete choice analysis are frequently used to evaluate alternative product configurations, forecast revenue and share, and help clients identify the features most likely to drive or suppress trial and sustain usage in current and future markets.
  
  
• Pricing research. The same quantitative modeling techniques used to develop preliminary forecasts for new products are also applied to test price sensitivity assuming different product configurations, brands and market environments.
  
  
• Market segmentation. Pre-launch segmentation helps our clients identify, profile and target the most receptive potential customers, and to understand the demographic, psychological and attitudinal dynamics that will propel and limit interest in the new product. National Analysts has a wide repertoire of analytic tools that enhance the usefulness of clients’ segmentation data, including need-based, occasion-based, multi-dimensional and individual level segmentation frameworks.
  
  
• Research to support marketing, promotions and communications. Since National Analysts usually works closely with clients in the early stages of product positioning, we are routinely asked to draw on our industry knowledge and marketing expertise to assess and fine-tune materials to be used in early promotional and marketing efforts. Qualitative techniques (focus groups, one-on-one interviews) are preferred methodologies.
  
  
• Tracking research. Quantitative tracking research often begins in the pre-launch phase, with a baseline survey designed to assess any pre-launch awareness and impressions of a product still in development; perceptions and use of currently available competitors; and anticipated positioning and usage of the new product once launched. Periodic post-launch survey research tracks changes from baseline over time in terms of awareness, impressions and market penetration of new products.

Product Introduction…

The primary objective at product launch is to build product awareness and trial usage among early adopters and rapid followers.

This phase of the product lifecycle is characterized by heavy marketing and promotional activity targeted to key customer segments. Emphasis is placed on building effective distribution channels, and generating momentum with regard to positive hearsay about and experience with a new product.

Thus, communications effectiveness and early-stage product trial are key concerns to clients in this phase, and National Analysts is often called upon for guidance in design and execution of research to address:

• Awareness and impressions of the product among early adopters and other "influencers." Data from this research helps clients fully understand and build upon positive experience in early adopter segments to encourage even broader trial, and identify any unforeseen barriers to adoption that will require attention moving forward.
  
  
• Effectiveness of launch-related marketing and promotional activities. Within the Healthcare Practice, for example, research may be designed to assess recall and effectiveness of both launch-related DTC (direct-to-consumer) media campaigns as well as those directed at professional market segments such as physicians, nurses, and/or pharmacists.
  
  
• Post-launch tracking research. The first wave of post-launch survey research typically occurs a few months after product introduction, and measures product awareness, impressions and positioning by early users; changes in perceptions since the baseline (pre-launch) research; and market penetration since launch. In addition to mapping the product's market progress, data from this and subsequent waves serve as guidelines for any necessary re-directing or fine-tuning of marketing and/or promotional activities going forward.

Product Growth …

Subsequent to introduction, a product may experience a rapid increase in sales and profit. At this time, the primary objective is to sustain growth for as long as possible while maximizing market share, often in the context of a growing number of competitors. It is common in this stage for companies to further differentiate a product and enhance its competitive edge.

Other methods for sustaining market growth include additional product-related services, entry into new markets or market segments, the creation of new promotional platforms, as well as the adoption of more competitive pricing strategies.

National Analysts has had decades of experience supporting and helping to guide clients' decision-making during this crucial phase of a product’s lifespan. Examples of the types of assignments we routinely conduct include:

• Assessments of value-added initiatives to help fortify brand loyalty and attract new users
• Evaluations of strategic alliances to broaden market reach and penetration
• Assessments of new pricing and reimbursement strategies to sustain growth and brand loyalty, while encouraging broader market penetration
• Analyses of repositioning efforts to take advantage of any changes in the marketplace
• Evaluations of alternative marketing and promotional campaigns and materials to build awareness and interest in broader market

Product Maturity …

As a product matures sales growth slows and competition intensifies. The primary objective in this phase is to maximize profit while defending market position. Companies frequently will seek to further differentiate products from competitors by diversifying the brand.

National Analysts has a long history of providing customized marketing research and consulting support to clients who are navigating products through maturity. During this lifecycle stage, we frequently conduct research to:

• Assess the appeal, potential positioning and forecasted use of new brand formulations or packaging designed to further differentiate the product (e.g., a new "SR," sustained release, form of a drug).
  
  
• Determine interest in and market prospects for potential product-line extensions (e.g., feature enhancement).
  
  
• Evaluate new pricing and incentives strategies aimed at attracting new users/switchers and fortifying loyalty of current customers (e.g., the "bundling" of a company's products at competitive pricing; volume discounts; improvements in distribution and purchasing processes, services, etc.)
  
• Enhance the effectiveness of marketing platforms and promotional activities, designed to re-emphasize brand differences and benefits, revitalize product interest, and entice new users and brand switching.

Product Decline/Change in Status …

In all product lifecycles there is an eventual decline in sales due to factors such as technological advances, demographic changes, shifts in preference, or increased competition. In most cases, the objective during this phase is to extract maximum revenue from the product while reducing marketing, sales and promotional costs.

There are various ways to maximize revenue gain during a product’s decline, including:

• The development and launch of replacement products.
• The transfer of the original product to a generic manufacturer or distributor in exchange for a co-marketing arrangement at a particular price.
• The development of new markets, applications or segments.

National Analysts is particularly adept at helping clients identify opportunities for revenue maintenance and growth as well as market replacement or exit.