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Feature addition
Background
A consumer electronics company was deciding on the possible addition of an expensive feature to an existing product. They needed to determine the feature's attractiveness to potential customers as well as determining a price point for the new feature.
Analysis + action
The target market for this product was identified through existing research and survey data. One-on-one interviews were conducted with over twenty consumers that fit the target market to determine the initial response to the new feature.
Qualitative information regarding their reactions to feature as well as quantitative information on value of the feature was captured during the interview sessions. The feature proved to be valued by the consumers and a price point was generally agreed upon by all those that were interested.
Results
The company introduced the new product/feature, resulting in sales that exceeded the forecast.
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Life cycle management |
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Marketing has been called civilized warfare. To win in the marketplace you must have more than a great product.
You need a total commitment to the product marketing process.
You have to believe, you have to create, you have to sacrifice, and you have to win. Great marketing is a crusade.
Read more ABOUT SWC's approach to solving product management challenges.
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