Product development and innovation is critical to the long term success.

Success in new product and service development comes from having the right insights to leverage in designing the successful offer, experience, strategy and execution. We work with clients at each stage of their product development cycle to embed a clear understanding of the insights into the drivers of choice, consumption and adoption so that they can discover, define, design, and launch successfully.

What We Do

Determine the market potential, how the market is structured and the segments with the greatest opportunity. Working with survey data and other data sources we create models that help build the business case through a detailed understanding of the market.
From collaborating with clients to the development of concepts and initial testing, we help to increase the chances of success by helping to uncover the concepts with the strongest chances of success and to understand what drives or inhibits their chances of success.
With new products or refining existing offers we deliver insights into what features drive choice and how benefits are traded-off so that clients can develop products that have the strongest chances of success.
Setting the right price needs to reflect client objectives for penetration and profitability, their business model and how the market trades-off benefits. Using a breadth of techniques we tailor our approach to help clients find the price for achieving their objectives.
Even when successful, rarely does a launch go to plan. Understanding the reasons for success or failure is critical to determining the future support for the product and success of future launches.

Examples of What We Have Done

Faced with stagnating sales, a leading nutritional brand needed to better understand the size of different market segments in their market to inform their strategy planning. Based on an understanding of the client’s business model we developed a category revenue model that incorporated data from a national survey of penetration and consumption behaviour with population statistics. This model allowed the client to identify both consumer and product based segments that offered the greatest opportunity for sales growth and product development by both value and volume.
A charity focussed on social services was looking to expand their donor base. To help them target their fund raising activity, we developed a behavioural segmentation based on charitable giving and support behaviour. Combined with their emotional engagement with types of programmes offered by the charity the segmentation provided them with a meaningful way to develop communication and identified segments previously ignored in their communication.
Launching a new post-graduate and full fee paying course into a new market required a detailed understanding of what would motivate potential students to not only undertake the course but to also choose a new provider in that market. To do this we undertook a series of detailed depth interviews with a potential students who had providers, combined with analysis of competitor products to understand potential demand for different subject, experience, delivery options that addressed the personal aspirations of the market. From the project we helped design a unique offer that was attractive to the market and justified a price premium.
A financial services client looking to redefine one of its products needed to understand how to increase uptake and reduce attrition. Combining a survey using choice modelling analysis with different usage segments with qualitative research and a review of competitor and overseas products, we were able to understand the drivers of the different behaviour and provided the client insights and recommendations at the product redesign, strategic and tactical level. Recommendations were directly implemented and lead to reinvigorate growth.
Launching into a mature category with a unique offer that needed trade support, a multinational consumer goods manufacturer needed to know the optimal price for a new consumer goods brand that used environmentally friendly ingredients and production processes. In combination with different potential packaging and positioning, we undertook a choice modelling study that showed the price and design that would achieve the highest penetration and margin. When launched the product achieved targeted sales and strong distribution.

To understand more on how we can help you with product development contact us on innovation@erisstrategy.com.au