PRODUCT RESEARCH

 The purpose of product research is to develop a product line which meets the needs of consumers in general.

Product research facilitates the process of making products more attractive, useful and agreeable to consumers.

Meaning of Product Research:

Product research is one major area of MR. It is concerned with different aspects of a product which include name, features, uses, package used, brand name given, price, consumer support and so on.

The term product research covers all aspects relating to manufacturing and marketing of a product. Product planning and development, product innovation and modification, product pricing, product life cycle studies branding, labelling, packaging, etc. are the different areas aspects) of product research.

Packaging and branding are treated as two components of product research. This is because they are closely connected with the product itself. Moreover, sale depends on the product as well as on its packaging and branding. In product research, existing products of the company are made superior (in quality) and agreeable to consumers.

In addition, new products with promising market demand are developed. This is called new product research.

Product research is directly related to product-mix which is one component of basic marketing mix.

There are four components of product mix. These are:

1. Product range

2. Brand,

3. Package and

4. Service after sale.

Product research has two important aspects. These are:

a. Technical aspect of a product, and

b. Marketing aspect of a product.

Technical research of a product is conducted in the laboratory in order to develop a product with latest design and features at the lowest possible cost. Products marketing research relates to the attitudes of consumers and their preferences towards the specific product.

Product research is necessary at the product planning stage. This is because marketing will be easy and quick when the produce manufactured is as per the needs and expectations of consumers. For this, product opportunities must be studied and product must be adjusted accordingly. Marketing efforts will not be rewarded if the product to be sold is not as per the needs and expectations of consumers.

This suggests that marketing research should start at the product promotion stage.

The researcher should suggest the details of product (nature, features, packaging, etc.) which can be marketed effectively. This creates proper background for success in marketing efforts.

 

IMPORTANCE/ADVANTAGES OF PRODUCT RESEARCH:

Product research is important as it offers the following advantages:

1. Product research helps to explain the features of the product.

2. It helps to simplify the product line.

3. It enables a manufacturer to develop new products with good market demand in the existing product line.

4. Product research brings best sales returns.

5. It widens market for the product and also creates goodwill for the product and its manufacturer.

6. It facilitates appropriate price fixation of the product. Product research brings to the limelight the different uses of the product for effective publicity for sales promotion.

7. It facilitates modification and renovation of existing products so as to make them highly competitive and agreeable to consumers.

8. It enables a manufacturer to introduce attractive package and brand name to the product for sales promotion.

 

METHODS OF CONDUCTING PRODUCT RESEARCH:

There are three methods used for the conduct of product research as explained below:

Product Testing

1) Paired Comparison Testing – Consumers are not told about the brand being tested and are given a new and an old product and are asked to choose. The samples know that they are testing and are therefore aware about a probable difference.

FMCG’s would often do this since there are so many products. This is like the Classic Coke Test Case. This kind of testing tells us about branding – the strength of branding – are consumers aware of product variations?

Do people really understand the style that a fashion house stands for. Response rates for distinctions would be high because people know that there is a test happening. Placebo Testing also has an effect here because the palette assumes that there are differences – and thus the palette expects change and there is a false perception of things being different.

2) Staggered Comparison Test – Respondents Test 2 Brands with a time lag with the identities masked. One half of the respondents receive Brand A and the other half receives Brand B. The respondents are then given the same products in reverse and are asked to note any difference in the brands. This kind of comparison tests the ideas of respondents with respect to their influence by peer pressure and their association with a product with respect to how their choices are dictated.

3) Disguised Comparison Test: This duplicates the actual market where for different brands, the same packaging is used and the respondents are told that they will be asked about their reactions later. In this case, the respondents are studied in order to recognize if they have noticed any difference at all. Further, they are not aware of the test being taken and believe the products to be free samples

This is the opposite of the 2 above. The sample does not know they are part of the test. They are just given free samples. They just think that they are getting 2 free samples. They don’t know that they are getting test. Sometimes they don’t realize that its different. They think it’s the same product.