Position Your Product Strategy for Success
Inform each stage of a product's journey from ideation, development, launch, and marketing
Product development and refinement are critical for growth, yet most product ideas fail to launch, and few that do reach profitability.
Hanover Product Lifecycle Solutions provide essential insights during each stage of product development. Pulling from its library of options, we can apply a range of research methodologies with the difference-making data needed to ensure a product meets the customer’s needs, aligns with market expectations, and is positioned for success.
83% of executives say product development research is necessary for the success of a product.
Our product solutions help you set up your product strategy for success
Product Lifecycle Management
Generate new product ideas, refine existing products, price products, and develop go-to-market strategies with qualitative and quantitative research including concept testing, market opportunity, product testing, and shopper experience analysis.
Identifies how to optimize an existing product line and how changes to a product or product line will impact sales and the other products in the portfolio.
Produces data to aid in the development and refinement of product packaging including tests to optimize text, graphics, color, and even the package type to inform package design and development.
Examines the relationship between price and quantity of goods sold using regression analysis to measure the effect of price on sales or conjoint analysis to identify the price tolerance of consumers.
Tests the impact of advertising and/or marketing messages on likelihood to purchase a product and/or service to identify the most impactful messaging for associated products.
Identifies critical and influential touchpoints in the purchase journey to prioritize and strategize distribution efforts and identify the most impactful channel(s) for a product or service.
Determines which variables, both internal and external to the company, drive successful sales using regression analysis to uncover statistically significant predictors of sales conversion.
Rheem Measures Homeowner and Contractor Demand for Sustainability
“We wanted to take a holistic approach to understand consumer behavior, perceptions, and what words resonate with consumers and the trade when it comes to sustainability. Hanover’s survey insights helped inform our sustainability strategy: we saw that consumers and contractors really care about sustainability and value a manufacturer that is prioritizing sustainability in their business decisions. Hanover brought out research techniques like MaxDiff to help create the best survey instrument for our needs.”
– Kathleen Payne, Research and Customer Insights Manager, Rheem
Hanover Research Quantifies Promotion Offers for Princess Cruises
“We use Hanover for consumer insights projects that require more sophisticated research methodologies than our team has the capability for. Additionally, we never know what research questions will be coming our way so we value Hanover’s ability to switch gears quickly as we need them to. Being able to access this type of research on command has been a real asset to my team.”
– Brent Haydamack; Director of Market Research & Consumer Insights, Princess Cruises
BIC Leverages Hanover Partnership to Access the Consumer Voice
“We want buyers to learn what consumers want, and recognize that the product decisions we make are grounded in research. Because Hanover’s research helps our retail teams build buyer interest, applying this data has resulted in an overall increase in lighter sales.”
– Keith Last, Brand Manager, Lighters
Hanover’s Research-Based Insight Drives New Product Development
“Hanover’s predictions and estimates were right in line with the actual price tradeoff and acquisition rates we experienced during product launch. Our leadership team regularly says that this is the most heavily and thoroughly researched NPD launch that they’ve ever been part of.”
—Kevin Manzel, Director of Innovation, The Teaching Company
Sauer Brands Takes a Data-Based Approach to Drive Customer Loyalty and New Product Development
“We have launched three new brands and brand segments in the last year and Hanover has been there every step of the way for every single one of those brands in understanding how our consumers are going to use these products, when would they most use them, and what would they most use them on.”
– Shon Pagel, Director of Brand and Marketing, Sauer Brands
FLEXcon Company, Inc. Solidifies its Product Positioning with Hanover’s Focus Group
“FLEXcon was interested in testing its value proposition for a new product. It was important for us to understand how current and potential stakeholders perceive a brand, product, and service in their purchase decision. Hanover helped us determine what is most valuable and how to position the product. We were highly satisfied with the results.”
– Amit Roy, Business Development Manager, FLEXcon
