Innovation Practice: develop innovative products and services

MMR's Innovation practice helps clients to develop, launch, and maintain an innovative suite of products and services that serve the needs of end consumers and trade customers. Our Innovation practice offers expertise in areas such as:

  • New product innovation
  • Unmet needs and adjacencies
  • Concept and product evaluation
  • Pricing optimization
  • Trade customer need identification

New Product Innovation

MMR helps our clients develop innovative products and services. We work with our clients to assess the strengths and weaknesses of product concepts under consideration, or to make choices among multiple concepts that are competing for funding and attention. We also work with clients on their internal innovation processes.

Unmet Needs and Adjacencies

Much of the process of new product innovation involves locating consumers’ and customers’ unmet needs, particularly those latent needs that drive category growth. We work with our clients to identify and satisfy unmet needs with new and innovative products. We also help clients locate adjacent areas where capabilities such as technical expertise, distribution strength, or brand equity can be leveraged into new product growth.

Concept and Product Evaluation

MMR conducts a variety of concept and product tests to evaluate concepts and products under consideration. The data from those tests can be used to improve or refine concepts or products prior to launch, or to choose among alternative products for introduction to the marketplace.

Pricing Optimization

MMR pricing studies help our clients gain understanding to be used in setting prices for new or existing products. As part of our pricing studies, we seek to identify the price levels that maximize revenues and/or profits. Pricing studies address questions such as how much to charge for a new product, or how to optimize prices for individual product or across an entire menu or category of products.

Trade Customer Need Identification

Bringing a new product to market requires not only a good product, but often also requires support from trade customers, such as distribution partners, retailers, or resellers. MMR studies identify needs of trade customers, and identify the product and service attributes that are most likely to generate support for product introductions.

 



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