Fortunately, Winmark's expertise extends across the whole product lifecycle. From needs analysis and concept development to portfolio revision and price evaluation, we can help you to pinpoint the most propitious areas of opportunity and to launch marketable offerings that deliver the greatest ROI.
Winmark Works: Successfully targeting a new marketIn an effort to improve profit margins, a leading UK firm decided to create a new business stream in an underdeveloped practice area. The firm commissioned Winmark to find what would make decision makers invest not only in a new product, but in a firm they had never before embraced.
Winmark's response combined desk-based research (including freedom of information requests) and the provision of focus groups that allowed the firm to access its target audience and form important early relationships. We were also able to provide the firm with an overview of the market – i.e. competitors, rival products and average prices – together with a detailed profile of its future clientele. This included advice on how to attract them and the key factors that would influence their decisions to buy. Armed with our practical recommendations, the firm was able to make informed decisions about its pricing strategy, its likely profit margin, and to successfully launch its new product in the desired target area.