Case Study: Defining a New Product for the SMB Market
WE WANT TO PURSUE A NEW PRODUCT OPPORTUNITY How should we define the product to maximize success in market? Who is most likely to use and buy this product? How should it be priced?
We worked with a telecommunications company to support the development and launch of a new product. The company asked High Start Group to help define the product, target segments, feature prioritization, pricing, and value proposition.
Multi-stage primary research included brainstorm sessions to surface key needs in target segments, focus groups for product feature prioritization, detailed interviews to understand example use-cases, usability testing to improve the user experience, and quantitative surveys (max-diff, conjoint and cluster analysis) to determine pricing, ideal features, and product bundles.
This project allowed our client to methodically optimize their product offering, value proposition and pricing for each target segment. Additionally, it continues to provide a clear outline of additional features and services for the product roadmap.