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Product Development Reduces Risk and Increases ROI: An Assessment of COVID-19 Impact

Businesses are more risk-averse than ever—in fact, over 2 in 5 organizations have launched product development-related activities as a direct result of COVID-19, as many executives see it as a valuable way to reduce risk. Being confident in an investment’s ability to generate revenue is imperative in the current economic climate.

Hanover Research reissued its 2020 Product Development survey to determine what, if anything, had changed since the start of COVID-19. The results showed that the strength of this sentiment has increased almost universally amid the pandemic.

You Will Learn

Learn how COVID-19 increased the value of product development

The pandemic has made executives more risk averse. Half of executives indicate they need increased confidence levels when it comes to a product launch. In fact, nearly 80% say they need to be very/extremely confident a product will be successful to proceed with the launch, and half believe they need to be somewhat or much more confident a product will be successful to move forward with launch.

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