Product Lifecycle Strategy

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

Optimizes each phase of the product lifecycle through data driven decision-making and provides data through a product’s lifecycle from inception, development, launch, manufacturing, distribution, and marketing.

Product Development

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.

Product Portfolio Review

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.

Package Design

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.

Pricing Strategy

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.

Product Message Testing

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.

Channel Strategy

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.

Customer Needs Assessment

Identifies key customer needs, pain points, and challenges, as well as purchasing behaviors to guide product development and refinement efforts as well as launch strategy.

Sales Forecasting

Determines which variables, both internal and external to the company, drive successful sales using regression analysis to uncover statistically significant predictors of sales conversion.

Featured Insights

Reports & Briefs
Product development—either refining existing products or creating wholly new products—is a key driver of organic growth for most organizations. However, product development is not…
Reports & Briefs
Launching a new product can be an exciting new venture for companies. New product development (NPD) can help companies understand their place in the…

Join the 8 in 10 executives that say product research is critical to success