New Product Development
Industry Insights
Of 7 product ideas, only 1 idea will yield a successful product (McKinsey Global, 2018).
95% of new consumer products fail (Harvard Business School, 2018).
84% of customers say it is somewhat or very important that the company they buy from is innovative (Lab42, 2018).
New Product failure rate is between 25% and 45% depending on the industry (McKinsey Global, 2018).
Innovation is our Destination…
New products make the company and brand more competitive.
New product development makes the company stand out and be perceived by customers as innovative.
New products cultivate, maintain and increase a company’s market share by satisfying a consumer demand.
New products also increase brand exposure and awareness.
Relax! The Idea Monkeys are @your service.
We conduct a thorough market research and trend analysis for more effective results.
We define a target market for the product.
We conceptualize, design, develop and market newly created or newly rebranded goods or services.
We conduct quantitative and qualitative market research with our exclusive TM tools at all phases of the design process; while the product is being designed and after it has been launched.
We scale the new products up to any distribution request.
We help you promote them with our Intro Promo Kit.
We conduct the preliminary measurements and results.
We develop new, meaningful & innovative products that meet consumers’ needs and keep your company competitive in the global business jungle.