The State of Product Development

Share on twitter
Share on facebook
Share on linkedin

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 without risk. The journey from initial ideation to launch involves significant time and resources, and even then, 80% of product launches fail.

Hanover Research surveyed the attitudes, behaviors, and preferences of executives across B2B, B2C, and B2B2C organizations to understand how to most effectively pursue product development. Our research shows many executives have a high need for confidence in a product to proceed with launch.

Discover key insights from the survey, including

the state of product development

Understand Product Development

In order to succeed, product development must rely as much on external factors, such as competitor offerings and customer needs as it does on internal factors such as design refinement and packaging. However, organizations that invest in a rigorous and circumspect product development process will reap the rewards—securing an ROI of nearly 15x and average revenue of $1.5 million.

This report details the value organizations reap from product development, how they conduct the process, the top challenges they encounter, and best practices to help lead them to a successful product launch

Become a client

Access the best custom research to help hit your organization’s goals. Request your custom consult below and a member of our team will be in touch.

Have questions? Please visit our contact page.

Let us come to you!

Receive industry insights directly in your inbox

Our newsletters are packed with helpful tips, industry guides, best practices, case studies, and more. Enter your email address below to opt in: