Hanover’s Product Innovation Solution helps you develop products that delight current customers and attract new ones by surfacing marketable ideas, refining concepts, and ensuring customer adoption after launch.

We help you answer key questions and develop strategies for success:

  • What do our customers need and what products address that need?
  • What products make financial sense to add to our portfolio?
  • What features will customers value in our product?
  • What is the optimal product price?

Hanover’s Product Innovation Solution

Hanover’s Product Innovation Solution helps companies surface the most marketable ideas, refine concepts, and ensure customer adoption after launch

Customer Needs Analysis

screenshot: Customer Needs Analysis

Spot unmet customer needs

Assess customer challenges or problems and identify opportunities to innovate or introduce new products to solve them.

Product Concept Testing

screenshot: Product Concept Testing

Evaluate product concepts

Test the viability of new products and features to confirm market interest and better focus your resources.

Product Portfolio Rationalization

screenshot: Product Portfolio Rationalization

Maximize reach while minimizing complexity

Evaluate your product mix to ensure that you are appealing to the greatest number of customers without needless complexity or cannibalizing existing products.

Qualitative Message Testing

screenshot: Qualitative Message Testing

Validate messaging and positioning

Test your current or proposed messaging with customers to ensure that it works.

Price Optimization

screenshot: Price Optimization

Set the right price

Strike the right balance between increasing revenue and increasing margin as you set prices.

Outcomes

  • Drive growth with products that customers want to buy
  • Reduce product development risk and misfires
  • Improve the return on investments

A Word from One of Our Corporate Clients:

We are always looking for more data, more inputs, and more insight to make good choices for the future of our business. By leveraging Hanover’s price elasticity report, and corroborating these findings with our own research and assumptions, we were able to make a concrete business decision regarding our product positioning with confidence.

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- John Jorgenson; Senior Vice President, Marketing

Whatever your goals, Hanover will partner with you to create a custom approach to support your needs.

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